𝑪𝒉𝒂𝒏𝒈𝒆 𝒐𝒇 𝑶𝒓𝒃𝒊𝒕 𝒊𝒏 𝑩𝒖𝒔𝒊𝒏𝒆𝒔𝒔 – 𝘛𝘳𝘢𝘯𝘴𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯
In this fresh series let’s look at the most important desire of an entrepreneur i.e. the change of orbit in business and how to approach it and what it takes to actually draw the trajectory which shall take us to that orbit that we aspire.
The businesses across the globe have been facing growth and challenges as a part and parcel of the business cycle.
Today’s business environment is characterized by rapid, extensive change and unpredictability. The combined effects of demographic shifts, globalization, hyper–connectivity and feedback through social media are posing many external challenges to companies. In addition, we see that companies are often hampered by internal complexity that makes change difficult.
Business Transformation is no longer a wishful activity to undertake rather have become a necessity. It is important for companies to start transforming themselves before they are forced to do so by external challenges or succumb to a state beyond recovery.
But too many companies, especially those with a mind leading them which is either unaware of the transformation ways or is not finding capability to run or is found stagnant due to some rigid beliefs, fail to transform themselves till it is too late.
Flat sales, rising costs, disgruntled customers, demotivated employees as well as increasing and new competition are typical late signals that a company needs fundamental change. Yet, it is only after the business comes under severe pressure that they wake up to the need for this change.
In this series we shall look at highlights of how an integrated top–down effort can be initiated & undertaken by small to big companies to drive successful transformation.
The work begins by defining the agenda of transformation after identifying the roots which needs to be shaken, unearthed or watered for a better growth of the business tree.
Some important parameters which warrants this change could be
~ Changing customer behavior
~ New technologies and competitors to deal with
~ No growth in business for prolonged time
~ Absence of continuously failing short & medium term goals thus rendering the long terms goals either not existing or redundant.
Such a transformation costs and never comes for free. Costs could be in terms of cash, efforts, time, some hard calls, some change in mindset by shaking beliefs, or even the last closing the business if transformation agenda also does not lead to any improvement or the problems are many and solutions less.
We shall continue this discussion, however till then do remember Synergeze Consultants Private Limited we are helping companies especially MSME’s to take this transformational journey and move up the ladder of success and growth.
Till then would love to see your comments on the need and impact of transformation
