TRANSFORMATION | Meaning | Need | Process | Challenges | BBA/MBA | ppt
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This video consists of the following:
• Meaning of Transformation
• Need of transformation
• Transformation process
• Different challenges/difficulties in transformation
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• Meaning of Transformation
The term transformation means a thorough and qualitative change in form or character. Both individuals and organizations could be transformed.
Organizational transformation means a drastic change in the way things are done and in the basic assumptions of the organization.
Transformation requires change in the way an organization in managed, in its business process and in the behavior of its people. The way an organization treats its stakeholders also undergoes change during transformation.
Transformation becomes necessary when incremental changes prove inadequate or there are extreme external pressure for radical changes.
• Need of transformation
1. Obsolescence of existing management patters, systems, routines and practices.
2. Continuous changes in the external environment forces.
3. Increased competition in the market because of entry of new players and launch of substitutes.
4. Insufficiency of small incremental changes.
5. Need to redefine the business i.e. formulation of new mission and goals.
6. Adoption of Total Quality Management (TQM).
7. Building flexibility into business processes.
8. Enhancing the sustainability and public image of the organization.
• Transformation process
1. Creating a shared vision
2. Formulation of appropriate strategy
3. Establishing the right metrics
4. Developing the road map
5. Building the right team
6. Implementation and follow-up
• Different challenges/difficulties in transformation
1. Reformulation of vision and mission
2. Management of drastic change
3. Development of team
4. Competitive edge
5. Focus on complete transformation
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