Increasingly in the worlds of project management, change and organizational development the term Business Transformation is being used. But what does it mean? What is exactly is Business Transformation? Is it change re-branded? Is it outsourcing? Is it a way for IT companies to sell additional services?
The need for business transformation may be caused by external changes in the market such as an organisation's products or services being out of date, funding or income streams being changed, new regulations coming into force or market competition becoming more intense.
It's transform or wither in today's business environment, with multiple transformation triggers creating strong pressure simultaneously. This state of affairs results from two factors, explains Robert T. Vanderwerf, Transformation Strategy Leader, KPMG LLP. "We are living in interesting times, with multiple transformation triggers all present at the same time, all [...]
Deloitte has been named a global leader in business transformation consulting by Forrester Research, Inc., receiving the highest scores in all three evaluation criteria: Current Offering, Strategy, and Market Presence (tied). " Deloitte drives business transformation with its customer and industry knowledge and shows a remarkably high quality for all related services," says the report.
Today's corporate watchword word is transformation, and for good reason. One study suggests that 75% of the S&P 500 will turn over in the next 15 years. Another says that one in three companies will delist in the next five years.