Business transformation
The reason for the need to business transformation through external changes in the market such as products or services may be because they are old or financing or sources of income for the enterprise are changed and new regulations come into force or competition in the market becomes more intense. This management approach also includes the reengineering of administrative processes, and is widely used.
Business transformation is achieved by one or more of the following: reorganization of staff work, how to build an organization, core products or business service portfolio and how to use technology. It is usually implemented through many stages of transformation. Recognizing the need to change and obtain a consensus among stakeholders that change is necessary is the most important element of change success. However, it must define the goals of change and vision that describe the future of their preferences. Usually over several years so that the Organization can move to what it was and achieve the desired benefits.
Transforming a business can lead to the development of its capabilities and improve the utilization of existing competencies.
