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Tuesday, December 6, 2022

4 Types of Business Transformation | HBR

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Sprinted transitions demand considerable stakeholder involvement.

The transformation has become a famous phrase in business, but firms must understand the many changes and how to handle each. Based on two dimensions, we’ve established a typology that clarifies four kinds of business transformations: 1) Is the change motivated by organizational demands from inside or external forces? 2) What is the transformation rate? Typically, accelerated reforms are performed in reaction to external pressures, such as regulatory measures.

They are characterized by a sluggish pace and considerable management of stakeholders. The issue for managers is constructing a compelling story to generate the required energy and drive for change. It will be challenging to follow the intended path without a motivated staff. Managers must be capable of recognizing and diagnosing the types of transitions they face. Due to Russia’s invasion of Ukraine, a case of hijacked metamorphosis may be seen.

When new, disruptive rivals join an industry, hijacked changes may also occur. We propose making it a habit during meetings to ask yourself what changes you are now experiencing or will soon encounter.

https://hbr.org/2022/06/4-types-of-business-transformation

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