The corporate buzzword of the decade — business transformation. Every company is doing it, so you should too, right?
But seriously, business transformation is more than just a trendy catchphrase. Business transformation means making important changes to how your company works, how you do things, what tools you use, and the way your company culture operates. And it definitively should create quantified value for your organisation and stakeholders by enabling it to achieve its vision and objectives.
The reality is that transformations are complex. However, programs are more likely to be successful if there is a clear strategy, effective governance, a dedicated transformation office and a willingness to embrace change. In short, executives need vision, courage and leadership to inspire the entire business to be on board and work together towards the same goals.
The benefits of successful transformations go beyond meeting your challenges and capitalising on market opportunities. Projects will fundamentally challenge and change the way an organisation operates, from its products and services to its technology and processes, to its culture and values.
Importantly, successful transformations will leave the organisation and your people with the ability to continue growing value long after the desired project benefits have been delivered.
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