Transforming business

Transforming business is the process of revising and re-thinking traditional business models to increase competitiveness and surpass industry benchmarks. It involves rethinking both structure and operations to create a better customer experience, reduce cost, improve product/service quality, and ultimately become more efficient and profitable. Transformation is often driven by changes in customer demands, technology, legislation, or industry trends. The process is often assisted by the use of technology, such as Analytics and Performance Management systems, and techniques such as Lean Six Sigma. Transformation business can also involve process redesign, innovation, marketing and human resources.