Business Transformation – A way forward to Refresh & Re-build the Market Positioning

Business Transformation

 

  • Continuously re-creating market positioning is a challenge faced by every organization in today’s highly competitive market.
  • Progressive organizations are able to deal with this on a pro-active basis, nut most others are unable to match their internal shifts with the fast changing external market dynamics
  • Therefore, ongoing and periodic business transformation is not only a good to have activity, but one of the most critical business driver today.

In today’s competitive era, every organization is facing the critical challenge on; 

“How to stay Competitive & continuously re-create it’s market positioning”? 

If I dwell into fundamental of this question, it gets started with the past success formula which itself can become bottleneck in staying agile or bring fresh perspective to organizational reality.

While a progressive organization is able to deal with this on a pro-active basis, quite a few organizations are almost hitting the “Death Curve” as they are not able to cope up with the external changes and lack speed of internal shift.

I have tried substantiating my perspective with a real case study … 

This company which has been into existence for more than 20 years, holding market leadership and has highest manufacturing capacity to serve the market demand. The earlier success had contributed in the company culture of working at the internal comfort and did not realize that in an external world “Go to Market” time has been reducing for any new entrant in the market.

This company was hit by the crisis as one of their largest customer turned into a competition. The situation had worsened when the departed customer had poached talented team members across the levels. The company’s other facts also had become a bottleneck like retaining internal resources, encourage employment opportunity in generations, operating from remote work locations, decision making time, & already built extra production capacity.

To deal with this near to death situation, company had to give a hard look to it’s current situation and draw a comprehensive transformational plan. They had to choose any one from the below two options:

Business Transformation-1

As they were known to build sustainable management practice rather than adopting the quick fix approach, they chose to work on the later option..

Business Transformation-2

The company had to build internal change team from various functional groups and the task force was led by one of the board member. The design and implementation of Business Transformation Framework was accomplished in 5- 8 months’ time frame.

The massive project ended on the following notes:

  • Company has started reusing 85 % of the capacity and re captured 8 % lost market share.
  • The company built it’s human resources with equal balance of home grown and vibrant fresh talent from outside
  • The new well-articulated competency framework has allowed to create two level back up for each critical position
  • Built internal organizational excellence team who will continuously focus on making internal business processes to keep it agile
  • Resilience has been ingrained as part of the DNA in organization culture

This experience has helped the company to build internal business case and put up a mandate at board level to auto-run the transformation activities every 3-5 years irrespective of crisis situation.

As an Organizational transformation specialist, I strongly believe that Business transformation is not a “Good to have activity” but “The most Critical Business Driver” in today’s competitive world.

 

The article is written by Ashish Patel for Arab Business Review

To read more thought-leadership stuff by leaders from Arab Region, please visit Arab Business Review

 

 

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