Business Transformation and Change Management are both not only different but important for business operations presently. In simple definition, transformation is a deliberate and significant shift while change management is the process of implementing that change or enhancing existing technology or business operations.
BUSINESS TRANSFORMATION
Business Transformation occurs in various situations for example –
- An organization undergoes a significant change in its strategy (for example launching new products or discounting legacy operations)
- A change in organizations mission to adopt to new strategy
- An acquisition or merger (acquiring a competitor firm or a new organization with new products) or adoption of advanced technology (for example, the implementation of SAP for improving business operations in manufacturing firm)
CHANGE MANAGEMENT
Change Management occurs in various situations for example –
- When there is a technology change such as implementing new software or component of the software or
- When there is a tool to improve specific functions such as implementing new reporting tool or organizational change,
- Improving processes or streamlining functions that can also be considered as an operational change additionally,
- Incorporating new regulations, new policies are also part of the change management.
The scope in Business Transformation may involve complete 360° change that may have wider and deeper impact on the company whereas Change Management could have limited or specific goals to achieve and impact may be limited within the scope.
Business Transformation and Change Management gives your organization a new focus and direction with improved decision making process and improved business operations. For detailed and quick information on Business Transformation and Change Management, pls check the video –
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