In today’s world of project management, change and organizational development we often come across the word Business transformation. We are now using this world frequently but have we ever wondered that what exactly Business Transformation is? Why this term is being used so many times? All the transformation requires an owner to rethink that how the enterprise creates the value of today and in future. Today all transformations require us to think big because the incremental improvement is not just enough to win in this disruptive business environment.

Business transformation is an opportunity to define the aim that goes beyond incremental change. It is an opportunity to rethink the business strategy and models to deliver breakthrough value. So Business management is a change in management strategy that has a goal to align people, process and technology initiative of a company more closely to its present business strategy and vision or aim. This will help the business to support, strengthen and innovate new business strategy of a business. Innovation is the key driver of any business or organization. Transformation and change is an issue for many businesses, research shows that 70-80% is a failure rate of the change program.

Many organization undergo such business transformation to cope with changing need of product market. It ultimately helps the bottom line of the organization in improving by increasing the revenue or decreasing expenses or by both. Transformation and change is an issue for many businesses, research shows that 70-80% is a failure rate of the change program. Many organization undergo such business transformation to cope with changing need of product market. It ultimately helps the bottom line of the organization in improving by increasing the revenue or decreasing expenses or by both. The factor that triggers the business transformation can be internal or external. External can be change or new regulations or may be funding sources become unavailable. While in internal factors it includes: business outgrows the management skills or production of products that require marketing. Transformation is a challenging task for many organizations. Strong core internal team and with outside support and expertise will be in a position to strengthen the marketing strategy. The team that is being chosen decides the success of the business transformation. The right people or team will define the achievable roadmap and then they will execute the plan. But it does not mean that team is more important than strategy. No strategy is perfect but if the team is strong, it can adapt to the necessary changes.

After making a strong team it is important to have the right strategic vision. this means to anticipate that what customer wants and how best to achieve it. After that Execution is the hardest part, more than half of companies fail because, although they have the right strategy for the business, but they are not able to execute the plan. A business should take a broad view on the customer demands when a company is embarking on business transformation as customer needs the solution not only a specific product, it needs to be aligned with the customer’s demand- in fact, it needs to anticipate the demands.