"Business Transformation is the process of fundamentally changing the systems, processes, people and technology across a whole business or business unit, to achieve measurable improvements in efficiency, effectiveness and stakeholder satisfaction. As such, a business transformation project is likely to include any number of change management projects, each focused on an individual process, system, technology, team or department."
The need for business transformation may be caused by external changes in the market such as an organisation's products or services being out of date, funding or income streams being changed, new regulations coming into force or market competition becoming more intense. This management approach also incorporates Business Process Reengineering and is widely used:
Business transformation is achieved by one or more of: realigning the way staff work, how the organisation is structured, the core product or service portfolio of the business and how technology is used. Typically organisations go through several stages in transforming themselves:
Business transformation can lead to developing new competencies and making better use of existing competencies.
Examples of organisational transformation include:
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