Transformational Business Change Report

Business must ready itself for change and be primed for opportunity. Surprisingly, whilst many companies may be aware of this they do not necessarily adapt well to new technologies or processes, according to a Report – that surveyed 106 executives, conducted by Forbes Insights. In reality, successful transformation means more than merely adapting to change; it means rewriting business models or even reshaping your own industry.
Regulatory change, increasing competition and changing customer expectations as well as technological change were named as the most pressing issues by respondents to the survey. These may seem like everyday problems for any business, but ignoring them can lead to the kind of slow attrition and deterioration in performance that saps customers and employees. And any of these catalysts—together or alone—can spell the beginning of the end for a struggling start-up or a century-old industrial company.
Evolutionary developments can be just as provocative. Big Data and the advent of the cloud are catalysts that very few businesses have fully embraced. These applied technologies clearly have the power to revolutionize many industries, yet many companies are still struggling with how to integrate them into their business plans. One case in point: just 60% of the companies surveyed report that they are taking full advantage of data analytics to better understand customers and to act on that information.
The outcome of business transformation can mean life or death for a company or industry…
Business – Transformational Change Report

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