Business Transformation

Business transformation - the process of specifically designing new business strategies, models, and operations to support new business models (such as digital business) and changing existing solutions, systems, processes, and information to support new business models.

The benefit of this approach is that it positions the organization to be able to take advantage of digital business opportunities. The cost of this approach is that it requires a specific investment in the strategic planning and execution planning efforts needed to support new business models, and to enable people and cultural change management investment.