Business Transformation can mean different things to different people, depending on what part of the organization you speak with.
To understand what “business transformation” means for your business, is rooted in the prediction that roughly 75% of all SP& 500 organization will undergo a major turnover within the next 15 years. Another site predicts that 33.33% of companies will be delisted for over the next 5 years. While another fact is that many companies are dying sooner because they are failing to adapt to increasing complexity.
So What Does Business Transformation Really Mean?
Transformation is operational and strategic at the same time. Operational or tactical as the emphasis is on producing/creating or servicing faster, better, with higher quality, and at more efficient costs than what you currently capable of. It’s Netflix moving from DVD to streaming media to creating its own content based on consumer behavior and patterns.
It strategic because it involves doing what you’re doing in a fundamentally unique and different manner now while planning for and driving towards your companies future strategic business offerings. The very essence of the company is reinvents to support trending consumer, geo-political and environmental demands. It’s like Walgreens shifting from retail pharmacy to chronic illness treatments and Amazon moving into the cloud computing space as it scales it retail offerings.
When done correctly, transformation will be fuel for your organizations growth engine. If done poorly, everyone will be wishing they “stayed the course” to boring.
In order to hold a competitive edge in today’s business climate, a company must be able to adapt to change quickly. Unfortunately, many companies find their organizational structure and process discontinuity hampers their ability to adapt. Working with many business units, processes that are uncoordinated, diverse operating systems and decision-making standards that are uncertain can simply make change very difficult. Fast responses to marketplace changes are practically impossible under the circumstances. Organizations looking to gain market share while building products and services that sustain long-term growth must adopt a business transformation mindset.
Sonora is here to help. We provide our clients with customizable and flexible services that address even the most complex of challenges. Sonora delivers the solutions necessary to improve performance, enhance processes, reduce complexity and even improve organizational effectiveness. We can do all this while helping our clients maintain control and transparency.
Our advisors can help you too, pinpoint potential opportunities for process optimization, better align business processes with core business needs, deliver clarity and transparency to business users and regulatory agencies, and define long-term strategic products and services that foster business growth and continuity.
Sonora’s Business Transformation Approach
Current State Assessment: This process involves baselining your organizations’ current state, identifying existing benchmark performance levels, areas for improvement and strategic direction.
Transformation Planning – Clearly outlining the reason, objectives and to desired change, the organization wants to accomplish
Transformation Roadmap & Design – Identify team, action plan, establish data analysis and requirements method
Transformation Deployment – Executing against transformation plans and strategies