In certain cases business transformation is the only way
of enhancing the firm's activities and the single source of shareholder
value creation.
Business transformation can be a highly productive process
when the firm is simultaneously faced by four challenges: decreasing
sales, deteriorating market share, degrading profitability and,
as a result, destroyed value. These challenges are normally accompanied
by a series of secondary symptoms such as high attrition rates,
the lack of new product or service ideas and decreased morale among
employees. Management must avoid rushing to fill gaps in the firm's
current business model and realize the need for overall and systematic
revision of the firm's activities. As a rule, this process begins
with top management reaching a decision that:
- the existing ways of doing business have become obsolete and
outdated;
- the market environment has changed but we don't know how;
- we must take this company through full renovation which will
help us unlock growth, restore efficiency and unchain our talent
to innovate
- we must prepare ourselves for the times of change and difficult
organizational transformation
- People are key to any transformation - to ensure that the process
is a success, securing their buy-in is a must
This subject will be addressed in more detail at a workshop called
Transforming the Business for a Better
Future.
For more information, please follow our Upcoming
Events section.
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