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Business transformation
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==Components== Business transformation is achieved by one or more of: realigning the way staff work, how the [[organization structure|organisation is structured]], the core [[product portfolio|product or service portfolio]] of the business and how technology is used. Typically organizations go through several stages in transforming themselves:<ref>[http://hbr.org/2007/01/leading-change-why-transformation-efforts-fail/ar/1 Harvard Business Review] January 2007 Kotter</ref> * Recognising the need to change and gaining consensus amongst stakeholders that change is necessary * Agreeing what form the change should take, the objectives of the change and a [[vision (business)|vision]] that describes a better future * Understanding what the organisation is changing from and what needs to change in detail * Designing the new organisational way of working and its support and management * Testing and implementing changes, usually in waves (this may take place over a number of years) * Bedding in the change so that the organisation cannot move back to how it was and achieves the intended benefits Business transformation can lead to developing new competencies and making better use of existing competencies.<ref>Bak, O. (2016). Investigating Organisational Transformation in Automotive Supply Chains: A Case Study on B2B and Extranet. Strategic Change, 25(3), 299-314. </ref>
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