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When the Greek philosopher Heraclitus stated in 535 BC that: ‘Change is the only constant in life’, little did he realise how fast-changing our modern day life was to become. Business transformation, otherwise known as business change, is the modern-day strategy for dealing with our constantly moving times.
Never before has it been so important to move with the times. In this blog we’ll look at why change is so important for businesses and how to make sure your business transformation is a success.
The goal of business transformation is to improve the performance and competitiveness of an organisation so that it can respond to the changing demands of the market and achieve long-term sustainability. It can refer to any change in the way a business operates. For example, digital business transformation is when companies implement new technology and software systems that enhance the way they do business. But business change can also be a more subtle shift in direction, for example, a change in company culture, strategy or circumstance, such as when a merger or acquisition happens.
It takes a team of people to implement transformation within an organisation. The members of this team will have various roles depending on the type of transformation required. This team will usually consist of contractors, freelancers, interim or permanent staff, hired specifically for their skills to implement the desired change.
Change Management is the term that is used to describe the implementation of transformation within a company. It is headed up by a Change Manager who will develop a plan to implement the change, ensuring a smooth transition for everyone involved. A good Change Manager will communicate the ideology behind the change initiative so that all stakeholders, including employees, are on board with the process. The Change Manager will then monitor and evaluate the results of the change over a certain time period.
With around 50% of business transformations ending in failure, it is essential that companies have a good change management team in place, overseen by a highly skilled and qualified Change Manager. At ea Change, we specialise in the recruitment of skilled business change experts for all types of industries and have successfully deployed many transformation teams through our ea Resourcing department.
Things move quickly in the corporate world and companies need to be able to react quickly to keep up. Companies that employ business transformation can be more agile which allows them to be more responsive to shifts in the market and to emerging trends and customer expectations.
By its very nature, transformation is about always moving forward. It’s about pushing boundaries, adopting new systems and technologies and discovering new ways of doing things. This is especially true of digital transformation, where innovative new technologies are being developed and implemented all the time.
Customer experience is a cornerstone of successful business transformation. Organisations that understand their customers’ evolving needs and expectations and can adapt their products, services, and interactions accordingly are businesses that will ultimately succeed.
We’ve seen it in the natural world – those species that change and adapt, survive. It’s the same in the business world. In today’s dynamic marketplace, companies that stand still tend to fall behind. Whereas companies that embrace change future-proof themselves for long-term success and longevity.
Because of the nature of how we operate in the 21st century, most business change initiatives today will be digital transformations of some kind. This is because technology permeates everything we do. Digital transformation is the integration of digital technology into all areas of a business, incorporating cutting-edge technologies such as AI and cloud computing to enhance productivity and customer experience.
Digital transformations should always strive to improve how a company operates and how it delivers value to customers. However, while business transformation might have a finite goal once behaviours have changed within a company, digital transformation is more likely to be an ongoing process that mirrors our fast-paced, ever-evolving digital landscape.
Many companies choose to use a specialist business transformation recruitment agency such as ea Change to help implement their business change. A specialist business change recruiter will understand what is needed to deliver a successful business transformation and will know the right people for the job, whether you’re looking for interim staff or permanent hires.