In a recent meeting with a customer and client about the journey to jump to the cloud, a stakeholder asked me these questions, “So, why business transformation? And how do we do it?” As business transformation can have many definitions in a program, I wanted to make sure to respond appropriately and factually. To set the stage, let’s offer a standard definition, according to Wikipedia:
Business transformation is about making fundamental changes in how business is conducted in order to help cope with a shift in market environment.
My shared answers provided further definition and attempted to address the “Why” and the “How”
- When new technology transforms systems and functions in the workplace, businesses must have the right processes, and — critically — the right leadership and resources to sustain the change and realize value over the long term. That is why business transformation.
- The prevalent pace of change and endless emerging technologies continuously impacts corporate performance and demands new considerations for future-state operating models. There is a growing need to balance internal and tactical know-how and experience with external emerging expertise and leading practices from industry. That is why business transformation.
- To succeed in this dynamic environment, any organization needs to navigate a business transformation journey, and that begins by understanding how its business will change as it implements technology, for example in migrating to the cloud. Start by looking inward, not backward. That is how you begin your work with business transformation.
- Leaders must identify key competencies required to manage the new technology, as well as understanding the impact to core functions and operations (e.g., customer service). Then, the organization must align its processes to the required functional enhancements brought about in the cloud. Finally, leadership needs to support the transition, and continue to navigate the organization through the transition to the desired state. This is how to make business transformation successful for the long term.
What other tips would you share for answering the “Why?” and the “How?” when it comes to successfully transforming your business?