Business transformation is a term that has been widely used in recent times to describe the change in the way business processes are experienced and improved. It involves a shift in mentality and the development of a business strategy that can continue to evolve in the future. To successfully implement a business transformation, it is important to focus on the following aspects: strategy, integration, identification, communication, execution, measurement, and customer experience. In the process of digital transformation, a company needs to rethink its business model with a strategic digital mindset.
Leadership develops a digital business transformation strategy and decides how modern technology could improve the product and all aspects of the customer experience. From strategy to integration, here is a comprehensive guide to the 7 most important steps. The first step is to develop a strategy. This means rethinking your entire operating model and making fundamental changes to your processes, technology, and people.
It is essential to involve staff and periodically reevaluate the implementation plan and adjust it throughout the transformation process if necessary. The second step is integration. This helps to outline subprojects, their objectives, timelines, and budget limits. It's also crucial to plan how the changes will be communicated to staff and customers.
Depending on the size of the company, the time from strategy to execution can take several years. The third step is identification. A company needs to identify all the areas, work processes and systems that will be affected by the transformation. This step helps to move the overall strategy to the next level.
The fourth step is communication. It is essential to plan how the changes will be communicated to staff and customers. With so many levels and steps involved, business transformation doesn't happen overnight. The fifth step is execution.
Unlike other digital transformation strategy frameworks, the cyclonic MBT framework takes a holistic approach. It is integrated in a systematic and repeatable way and allows the company to make incremental improvements. The sixth step is measurement. Remember to measure the performance of your original process so that you can compare your transformation effect with this.
The seventh step is customer experience. See your product from a customer perspective and use this thinking to drive the methodology and execution of your process transformation. Organizations also transform processes to improve their results. Not only is processing more accurate, but the new workflow only takes six hours to complete, which is 92% faster than before. Not only is the information now 100% correct, but the shipping workflows take no more than 48 hours to complete. Business process transformation is not simply implemented by change, but it ensures that your company continues to grow and innovate, creating even more efficient operating models.
Ignoring transformation opportunities simply to maintain the status quo is a fairly short-sighted business strategy and can lead to loss of growth and value. Nokia Corporation is an excellent example of a company that had to transform itself dramatically in the face of changing market dynamics. Between 1985 and 1995, they expanded their original product portfolio, consisting of paper, rubber and cables, and began specializing in consumer electronics. This segment was later replaced by mobile telecommunication networks. IBM serves as another impressive example of business transformation that lasted several decades. As these examples illustrate, business transformation may not just be an option for any established organization but rather an essential ingredient for long-term success.