Transformation is considered as a fundamental change in organizational logic, which is always caused by a fundamental shift in behaviours (muzyka de konig & Churchill, 1995). In other words, the term transformation implies strategic improvements in the value chain of an organization.

Business transformation can be applied to techniques/processes to further gain market share, increase revenue and customer satisfaction and reduce expenditure. It is relevant to quickly state, that Business transformation is not just about reducing costs or reducing expenditure and improving profitability.

No doubt, we are in the age of fundamental and fast-moving changes, characterized by the globalization of the market, use of information technology, new forms of organizational structure and networks (Baden-Fuller & volberda, 2001). So if you don’t adapt to the trends of the time, you may not attract the gains that follow the change.

Again, Business transformation is a concept, encompassing a range of competitive strategies. These competitive strategies are what many leading business leaders adopt to achieve significant improvements in their organizations.

A successful transformation involves the invention of strategies and management processes that will enhance sustainability. Take note, therefore, that a transformation that is not sustained over a reasonable range of time may not achieve successful outcomes.

Hence, this article intends to reveal the five most productive strategies models that can enhance a “successful” business transformation.

5 Strategic Models To Adopt For Successful Business Transformation

1. Business Process Reengineering

A business process is a collection of activities designed to produce specific outputs for specified markets. In simpler terms, it emphasizes on the plan of work done within an organization. It uses resources that have specific inputs and expected outputs.

Business process reengineering is equivalent to redecorating a house. It has to do with the remodelling of the business process and the reconfiguration of resources to match market requirements.

“Business process reengineering (BPR) is the fundamental rethinking and radical redesign of business process to achieve dramatic improvements otherwise referred to as transformation in critical measures of performance’’…. hummer and champy….

If your business must experience transformation, especially in this highly competitive business age, you need to undertake a business process reengineering (BPR) to bring much-needed innovations to change the outdated business processes.

2. Be A Learning Organisation

Our insights show that solving problems not only requires experience but also a definite degree of methodological creativity.

After surveying about 830 companies in 2015, the association for talent development based in the United States found that organization with a culture of learning was some at the highest performance as they had higher levels of customer satisfaction.

The best way for employees to be more productive and achieve goals that can transform a business is for employers to provide them with opportunities for continuous learning. This helps employees to improve their skills, increase flexibility and more adaptive to the complex changes arising from technology and business ethics.

No longer is learning and development just a periodic event. It is more important than ever to understand the changes in the business world, how technology impacts business and creating plans to adapt to these changes.

Employees could be sponsored to business seminars; they can be mobilized for online business courses just to improve on their expertise and are expected to create, deliver and manage value.

3. Digital transformation as an enabler.

One of the key elements of business transformation is the efficient use of technology. It is more complex to excel in the global business world, without technology.

Online shopping is more efficient than shopping in a store; digital marketing is more efficient than high-cost newspaper, television and/or radio advertising.

The relevance of information technology in business transformation cannot be overemphasized, because most business transactions and operations cannot be concluded in the 21^st century without technology.

Technology has helped to automate numerous business processes thereby increasing productivity. A simple example is- rather than only being able to reach the company during business hours, the customer (client) can conveniently interact with the company on its website or through social media, e-mail and instant messaging.

The best approach to business transformation is the efficient use of information technology. There increasing push for digital transformation as an enable for business transformation.

4. Benchmarking

Benchmarking is the process of comparing your organization, your operations or processes against other organizations in your industry or in the broader market place. It is the practice of comparing business processes and performance metrics to industry best from other competitors.

One key strategic approach that can be employed to aid and drive a successful business transformation is to benchmark against other competitors that are outstanding in selected business performance indicators.

The process of benchmarking initiates measures of time, quality, cost and effectiveness plus customer satisfaction.

Benchmarking helps you to generate ideas for improving processes, approaches and technologies to reduce costs increase profit and strengthen customer loyalty and satisfaction which are evidences of transformation

5. Engagement Of Independent Advisors.

The laudable capabilities of consultants (independent advisors) set them apart from other professionals not just because of their prior experience but because they do more research to gather more knowledge so they can become a solution to any kind of related problems.

Consequently, when you seek advice from a specialized expert, you will have the ability to develop solutions based on the experience-based information they provide, culled from solid facts.

Many firms, especially private ones would have had better corporate governance that drives improvements if they had engaged the services of an expert consultant.

It may interest you to note that experts offer advice based on tried out past and current experiences that provide them with valuable insights and experiential knowledge of local operating environments.

Transformation in business does not only require experience especially a narrow experience, but also a definite degree of methodological creativity. Expert consultants have the methodology and creativity that can transform your business beyond your expectation. Hire one.

“In the business world, everyone is paid in two coins: cash and experience. Take the experience first from experts; the cash will come later.” ……. Harold Geneen……

Sometimes all your business needs to get transformed is a fresh and qualified set of ears and eyes to provide useful insights that have been suppressed by the “daily routine factor”.

Takeaway

In conclusion, business transformation can be achieved by being constantly abreast with new trends as they unfold. This article emphasised that successful implementation of business transformation does not occur by default. It is a product of deliberate innovative strategies. Therefore companies should take conscious actions leveraging the five strategies we so far discussed. 

Request For Our Services

We can help to transform your business. Whatever major problem that is looming over your company, we can help you solve it. We are a team of solutions looking for problems. We are Gabriel Domale Consulting, a management consulting firm.

We can work with your company to develop and implement a business strategy that will drive growth and secure a competitive advantage.

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Gabriel Domale Consulting, under the leadership of Dr Leesi Gborogbosi, has the expertise to help companies to develop and implement cost reduction programs as a competitive advantage. We will provide support in cost analysis, contract management, contract optimisation review, contract tender boards and transparent performance management, and compliance monitoring.

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Dr Leesi Gborogbosi worked with Shell Nigeria, a Royal Dutch Shell Company, a leader in the oil and gas industry, for 26 years. He was Project Finance Manager of Upstream Oil & Gas Projects (Headline size: $8 bln) - Southern Swamp Associated Gas System, Forcados Yokri Integrated Project, Otumara, Adibawa, Agbada and Assa North/Ohaji South Projects. 

Dr Leesi provided advisory services namely, strategic planning, budget management, contract performance review, knowledge management of third party cost reduction, supplier financial risks assessment and mitigation plan, funding strategy and risk management. These services covered the full life cycle of 7 major upstream oil/gas projects, power facilities and export pipelines.

See his profile: https://www.www.gabrieldomale.com/blog/consulting-my-drive-is-to-help-companies-in-africa-to-grow

Our leading consultants are ex-managers from the oil and gas industry with a minimum of two decades of hands-on leadership experience and insights.

Our Consulting Services Include:

1. Finance.
2. Value-For-Money Audit.
3. Taxation & Audit.
4. Strategy.
5. Contracting Strategy.
6. Budget & Planning.
7. Performance Management.
8. Merger & Acquisition.
9. Due Diligence & Deal Advisory.
10. Governance, Risk & Compliance.
11. Leadership Training.
12. Human Capital.
13. CFO & Non-Executive Director - Search.
14. Transformation.
15. Cost Reduction & Optimization.
16. Facilities Management.
17. Digital/Data Analytics.
18. Public Sector.
19. Institutional Reforms.      

Core Sectors We Focus On In Delivering Consulting Services

1. Oil & Gas.
2. Capital Projects / Construction.
3. FMCGs.
4. Hospitality.
5. Technology.
6. Financial Services.
7. Public Sector.
8. Agriculture.
9. Non-Profit Organisations.

Our Value Propositions

Gabriel Domale Consulting collaborates with finance leaders to make crucial decisions and optimize performance. By focusing on financial excellence in finance systems, accounting operations, budgeting, finance transformation, cost reduction, governance, risk, and compliance.

We provide support to business and finance leaders to help them to identify growth opportunities and create value. Using excellence in strategy implementation, capital efficiency, building strategy, planning frameworks and the crafting of innovative funding solutions. We deliver projects within costs.

Read more: https://www.www.gabrieldomale.com/blog/management-consulting-services-by-gabriel-domale-consulting