Strategic Business Change:
Business is a continuous cycle of change:
- Businesses need to improve continuously to ensure their market competitive advantage.
- Markets move and change, customers change depending on their needs and wants
- Customers look for businesses that are reliable, provide high-quality products, and have integrity towards their customers
- Customers look for businesses they can trust
Businesses need to be able to adapt to change
- Business success is a consequence of business change
- Changes ensure a business provides the best up to date services and products to their customers
- Change ensures continuous improvement
The analysis strategy:
Why is a business change is needed?
- Understand the reason “WHY” the business change is needed
- Understand the customers perspective of your business services and products
- Something to keep in mind, you need your customers more, than they need you
- Customers vote with their feet and their wallets
- Without customers, you have no business
When is a business change needed?
- Is there a change in your specific market, products, or services domain
- Is there a change in customer tastes or needs for your products or services
- Have your competitors innovating faster and better than you
- Have you decided you are going to preempt and lead the industry change
- Are your systems and operating processes outdated and in need of reinvention
What type of business change needed?
- Streamline customer experience
- New or upgraded technology is needed to future proof your business and bring your systems into a new era in your industry
- Are you upgrading or providing new products and services for your market
Who is impacted by the business change?
- Your customers
- Regulators in a regulated industry
- Government departments
- Industries that you provide services to
- Partners and third parties that provide services to your business
- Your business partners
Where in the business is the change needed?
- Business locations – international and local
- Business Units – business operating model
- Business Product snd Service lines
How will the change be made successfully?
- Identify the success factors
- Ensure the change strategy is not compromised by looking for cheap, quick options
- Select the change delivery team members that have the skills needed
- All individual team members including individual members of any partners need to have their skills validated
- High-level analysis needs to be done upfront even if you decide on an Agile programme – you need a good quality roadmap
- Delivery plans need to be implemented after the high-level analysis is complete
What do you need to consider for your next steps?