Business transformation consulting insights to help companies adapt to new and innovative strategies

Business transformation is a significant part of organizational development. One of the most important rules for any business to remain successful is to reinvent themselves and adapt to changes on a continuous basis. Companies that understand this rule always remain on the competitive side by changing themselves according to the market scenario. In this, the people, process and technology are aligned in a way to meet the business vision and objectives. A change in the business model can be required because of many reasons. They could be emergence of digital technology that needs to be incorporated into business, social engagement and more efficient ways of computing. This change management strategy aims in adopting new and innovative strategies.

Group50 a leading business transformation consulting firm,  follows the practice which elevates the transformation game with experienced business transformation experts and IT consulting capabilities to speed implementation and value realization for their clients. Their engagement begins with an assessment, followed by more in depth workshops and project management to guide and drive implementation. They optimize operations, leverage innovation enabling technologies, and elevate the transformed process with embedded analytics and new innovative capabilities including artificial and or cognitive intelligence.

Business transformation can be categorized into two forms mainly:

Operational transformation

For this type of transformation, different ways of digital technology are utilized for bringing in operational efficiency. The processes are operated at a better, faster and cheaper pace.

Strategic transformation

In this strategic transformation, all the existing strategies are modified or completely changed and the newer ones are adopted. It is about changing the core or essence of the businesses.

It is commonly seen that middle market companies face many of the same challenges as large domestic and global companies driven to significantly change their business model. Businesses need to adapt more innovative ways to improve employee experiences, provide better customer service, increase revenue and higher market share.  With business transformation, all the processes get streamlined and organizations become more agile in adapting the changes in an easy and quick manner. The processes and activities are modified in order to meet the new business objectives. Unlike their larger competitors, middle market companies lack in resources for effectively planning and making business transformation changes. In such scenarios, they need to:

·         Re-invent and simplify business processes to remove complexity and uncover new efficiencies.

·         Improve business performance with data driven insights.

·         Infuse speed of execution and increase organizational agility to respond quickly to new opportunities and competitive threats.

·         Leverage new models of computing (cloud, software as a service, platform business services such as ERP, MRP, HRIS, CRM, etc.) to reduce cost of operations which are non-core to the business. The end result is to free up capital and human resources to focus on core aspects of the company to drive growth and profitability.

 Business transformation consulting services can surely help businesses carry out this strategy. They act as the management’s helpline and can provide valuable advice to the top and middle management of the organization. Business transformation is not a one-time process instead it is an ongoing process. Of course the consultants can start the ball rolling but after then it is the responsibility of the management and the company’s workforce to keep the pace and carry out the process successfully till the end. These consultants would bring a diverse set of experience and a higher level of skill set on board. They have carried out such projects before also and understand what it requires to make the process effective and successful. This is definitely one of the major reasons why companies seek business transformation consulting services.

To utilize your resources to the optimum level and taking your organization towards the road of business transformation, consult a renowned firm like Group50. They focus on various areas of business transformation and utilize over 50 assessments and workshops designed to provide a client’s leadership team with the appropriate insights to how their business operates and identifies the opportunities to significantly improve business performance. Their consultants have the resources and skills set that will enable them to make the entire transformation journey with their clients.     

For more information, talk to a Group50’s Business Transformation expert today!

 

  

Strategy execution consulting to formulate and execute strategies with a systematic approach

 

Strategic execution is the method of implementing the business plans. It is a common scenario where most of the companies aren’t aware of the right way of doing this. They lack a proper framework and mechanisms that constantly remind all the stakeholders that they need to use the business strategy as the litmus test for everything they do. This is the reason they fail at executing their corporate strategies and meeting the expectations. All the business stakeholders tend to get so caught up in the day to day noise that strategy becomes somewhat void.

If you have a strategy execution process in place, this will not happen to your business. Group50, a leading strategy execution consulting firm has worked on many projects and they rigorously test their activities against the business hierarchy of needs developed by them. These needs are applicable to any organization, industry or group. They apply various tools, cloud based software systems and assessments that are designed to identify strategic and operational gaps throughout the company and workshops that are designed to engage process owners and functional leaders in the development of roadmaps that address identified gaps. 

Although your firm’s strategic planning may be detailed, accountable and result driven. But it all goes in vain if it is not executed properly. The strategy may sound good on paper but the reality is to effectively execute it. Strategic execution is all about tuning and implementing your business planning in order to produce the optimum results.

Importance of strategic planning and execution consulting

Provides a sense of direction

Strategic planning and execution aligns your business activities and processes with its core objectives. Due to the ever changing business environment, work pressures and strict deadlines; your company tends to lose its way. Without setting a proper way to execute your plans; resources and tools aren’t utilized effectively. On the other hand, the companies having a right method handy have a sense of direction in which they can head for a desired state.

Bring an external perspective

A good consulting firm would have years of experience and have executed many projects successfully in multiple industries verticals. Some of the projects on which they have worked might have faced the similar challenges just like yours. They have a greater level of expertise that will enable them in providing long term solutions to your business. They will definitely bring a fresh and unique approach of looking at the underlying issues and would also not let you settle down on short term fixes.  

Enhances communication

For effectively executing the strategic plans, communication becomes essential between managers and the team. It exemplifies the commitment of the workforce towards the business objectives, and they become responsive and innovative in their work strategies. It fosters efficiency, productivity and growth of the company.

Helps formulate and execute strategies with a systematic approach

It is one the most significant advantage of the effective consulting services that can aid your business. These consultants apply logical and systematic approach that completely contributes towards developing and executing strategies in a better way.   

Give feasible solutions to the difficult questions

Before the development of a strategic plan and executing it, the organization will face all the challenging scenarios. These consultants can provide a proper way of implementing all the management processes. They will also provide feasible solutions that will give the leadership a complete understanding of the strategic opportunities that lie in front of them and also realization of the company’s full potential. 

Gives a competitive advantage

It provides a foresight into future challenges and the methods to tackle them before they become worse. This in turn provides a competitive advantage to your company over others in the market and improves overall sales and finances.

For having a clear understanding of the strategies and how they need to be executed, every company must utilize the strategy execution consulting services. Consultants at Group50, utilize the “Where to Play – How to Win” approach to strategic planning. They have all the robust tools and methodologies to make you effective at strategic execution.

To find out more on strategic execution consulting, you can talk to an expert at Group50.