Tech Glossary
What is Business Transformation?
Business Transformation is a strategic process where the company reshapes its business model, processes and technology to meet the market's demands and opportunities. By implementing a business transformation, a company can increase its competitiveness, efficiency and profitability. There are various methods and tools to implement a successful business transformation. Examples of this include mapping existing processes, analyzing market trends and customer needs, as well as implementing new technology and business models. It is important to have a clear strategy and management to guide the business transformation in the right way. There are many companies and consultants that offer services in business transformation. Examples of consulting firms specializing in this area include McKinsey & Company, Boston Consulting Group, and Accenture. These companies can help organizations design and implement a successful business transformation to meet the challenges and opportunities of the future.