Business Transformation

Business Transformation: The New Norm

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As customers, competitors and technologies evolve at a rapid rate, business leaders must be proactive to effectively address the threat of disruption and drive competitive advantage in the marketplace.

This has resulted in a dramatic increase in the number of significant change initiatives that companies have launched in recent years.  And we do not see this slowing down as the relentless pace of change continues to increase exponentially. Constant and rapid change is now the norm.

Because of these dynamics, transforming your business continuously in an agile fashion is key to success. Companies that can pivot quickly in transforming their business will have a significant competitive advantage. Those that don’t will cease to exist.


					
 
							
 

			
    
		
 
	
 

 







	
    
    


        

			                        


				
Interested in learning how to make business transformations agile?  Check out our latest content on the topic in our Guides, Webinars, Client Stories, and More.



            
 
        
 

    
 


 




	
    
    


        

			                        


				
What is Business Transformation?


Business transformation has numerous meanings to many companies ranging from tactical to strategic and event-driven to evolutionary. Our definition of business transformation is “Driving competitive advantage in the market through the deployment of strategic changes and ongoing performance improvements across an organization, encompassing people, culture, process and technology.”


True business transformation is complex and multi-faceted and impacts all parts of your business. The relationship model below illustrates the business elements you need to consider in a transformation journey. Each business element is critical on its own but collectively requires structured integration with others to deliver new business capabilities and achieve world-class performance levels.




Hence, transformation is not just about updating your vision, rolling out a new technology solution or improving processes. It requires a holistic view into building and delivering new capabilities to achieve a competitive advantage.



            
 
        
 

    
 


 




	
    
    


        

			                

        
TAKING AN AGILE APPROACH TO BUSINESS TRANSFORMATION


Based on business transformation complexity, a thoughtful approach is required.  There are several key aspects of transformation that are critical to consider in transforming your organization in an agile manner.


It starts with an analysis of your current situation and the business drivers impacting your business, including customer, competitor, regulatory and internal pressures. Essentially, you need a 360-degree “real-time” understanding of your organization’s performance. The ability to quickly attain and assimilate data to inform effective decision making is critical.


From there, you can develop a compelling vision, strategy and business architecture to guide the ideation, design and delivery of world-class business capabilities in an agile fashion to drive value quickly. And of course, you must enable and sustain this change through an intentional focus on people, culture and change governance.


The graphic below defines Centric Consulting’s point of view around the six key areas essential to successful business transformation, and the need to build agility into each of these areas.





    

            


				
Customer and Business Insights


Customer and Business Insights


It is imperative to know where you stand today to transform your organization. Based on the rapidly changing nature of customer expectations, technological advancements and new competition, where you stand can shift in the blink of an eye. As a result, companies must gather and process real-time business and customer insights and effectively leverage these analytics to feed both planning and operational activities.


Vision and Strategy


Vision and Strategy


 


Companies can no longer rely on three- to five-year strategies (or even one-year strategies) to guide their organization. Dynamics are changing too rapidly. While you still need a North Star to guide your organization, it can’t be so rigid that you can’t make adjustments based on current and evolving business drivers.


Business Architecture


Business Architecture


 


Companies must inherently build agility into their process designs, organization structures, workforce and technology infrastructures to enable adaptive change. So, each of these elements must work together cohesively to ensure you can continue delivering world-class capabilities as business requirements change.


Agile Value Delivery


Agile Value Delivery


 


Organizations must continuously and incrementally deliver value to the marketplace. Business and IT teams must collaborate closely to provide new business capabilities at an accelerated pace. To do that, your company must leverage agile and modern software delivery techniques that can help you create and bring new products and services to the market quickly.


People Culture


People and Culture


 


Without a focus on people, your organization can’t effectively transform, let alone transform with an agile mindset. Companies must build change leaders across their company and establish a culture of change that engages all employees.


Enterprise Portfolio Management


Enterprise Portfolio Management


Enterprise Portfolio Management (EPM) has historically received a bad reputation for slowing down progress due to heavy governance and a bureaucratic way of doing things. However, based on the ever-increasing pace of change, EPM is quickly emerging as a strategic business capability required to facilitate end-to-end strategy execution, enable business agility and accelerate value realization — not hinder it.



            
 
        
 

    
 


 

    


                

            

                
                

                    

                


                

                                    

            

        

    
 


    

                

            

                
Guides

                

            

            

                            

        

    
 


    


                

            

                
                

                    

                


                

                                    

            

        

    
 


    

                

            

                
Webinars

                

            

            

                                
        

            
 
                

                
                

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Rethinking Business Transformation: Building Business Agility Begins with Culture 

                

        
            

        
                            

        

    
 


    
    


		
        


            


				
                    
                    


                        


                            

                                                            
 

							
                            


                                    

        
Client First Approach

    


                                

									
“Centric has been a pleasure to do business with. I continue to be impressed with the level of talent the Centric leadership team has brought to the project. Their ‘client first’ approach has brought a freshness to the experience which can be seen in every person on the team.”


 



                                


                                

                                    David  O'Toole, Director of Strategic Program Operations, World Wide Technology                                

                            
 

                        
 

                    
 

				
            
 

        
 

    
 



    

                

            

                
Client Stories

                

            

            

                                
        

            

                

                
                

                    Client Stories
                 

        
                

                    
Business Transformation Initiative to Sustain Historic Growth 

                

        
            

        
                                
        

            
 
                

                
                

                    Client Stories
                 

        
                

                    
Customer Experience Transformation: Improving Customer Retention With Business Process Management (BPM) 

                

        
            

        
                                
        

            
 
                

                
                

                    Client Stories
                 

        
                

                    
Leading a Cultural Transformation to Increase Engagement and Trust 

                

        
            

        
                            

        

    
 


    


                

            

                
                

                    

                


                

                                    

            

        

    
 


    

                

            

                
Additional Insights

                

            

            

                                
        

            

                

                
                

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[Podcast] Going Deeper with Business Transformation: Part One 

                

        
            

        
                                
        

            
 
                

                
                

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[Podcast] Going Deeper with Business Transformation: Part Two 

                

        
            

        
                                
        

            
 
                

                
                

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How Business Process Excellence Ensures Successful Transformation 

                

        
            

        
                            

        

    
 





	
    
    


        

			                        


				

        

            

                
            

        

	
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