Three Truths of Business Transformation

Business transformation is not a new phenomenon, for as long as there have been businesses, there have been examples of them reinventing themselves through either necessity or a natural shift in the direction of their industry.

Nokia, the Finnish tech firm known best for their mobile phones, began life as a paper mill. IBM began life selling commercial scales and punch card tabulators. These are, of course, transformations on the more drastic end of the scale.

Many businesses undergo a much subtler, yet no less critical metamorphosis. In a recent KPMG survey only 18% defined business transformation as an all-out
turnaround effort resulting in an overhaul of the business model. 51% defined business transformation as a continuous process of aligning business model to support strategy and 31% defined it as narrower efforts limited to specific functions, processes or areas.

It is these last two groups, and the level of transformation described by them that we’ll be examining in this paper. While business transformation might not be new, it is perhaps more relevant in today’s business world than ever before. When progress was historically slow and steady, great leaps in technology and business processes are made every year in the modern age, leaving companies with a stark choice: evolve of die.

Naturally, this means we’ve seen a marked increase in businesses reinventing themselves and repositioning themselves to ensure their survival. But transformation is not an easy process, it involves real cultural shifts,
technological reinventions and of course new processes to hold it all together.

Download the white paper to examine the key elements of business transformation in order to help you successfully navigate and stay the course of reinvention.