In my experience, 'business transformation' can mean anything from small scale evolution to large scale revolution. It can encompass one or all elements of commerce: sales, process, production, strategy, culture, systems, structures, people... Knowing what is meant by the word 'transformation' is critical to designing and implementing a programme which works and delivers the desired performance uplift for the company.
Today’s corporate watchword word is transformation, and for good reason. One study suggests that 75% of the S&P 500 will turn over in the next 15 years. Another says that one in three companies will delist in the next five years. A third shows that the “topple rate” of industry leaders falling from their perch has doubled in a generation. Software is eating the world. Unicorns are prancing unabated. Executives at large companies rightly recognize that they need to respond in turn. And yet. When executives say transformation what do they really mean? Often, the word confuses three fundamentally different categories of effort.