Business transformation initiatives update a company’s production methods and aim to ensure it operates more efficiently. However, the author suggests that a reactive, piece meal approach to needed change relegates a company to lagging behind its market and stagnates its growth. A proactive, holistic approach to business transformation ensures that a company is attuned to its evolving market environment. It secures the long term the survival, sustainability and success of a company. Findings from this study suggest that customer focus, transformative strategy, ethical practices and well executed growth metrics are essential for successful business transformation. The study shows that transformative leaders step away from limited competitor driven tactics to focus on securing long term growth, superior service delivery and stakeholder satisfaction. These companies use technology to unlock new markets and engage in open collaboration with their customers to create valuable new products. The study reviews metadata drawn from published interviews with transformative CEOs to derive the rules of business transformation. While there are many business development options to choose from in the 21st century, the author challenges company management teams to rethink their company strategy and adopt the essential rules of business transformation to secure their long term survival and success. The study suggests that business transformation is not about making a profit from a bottom-line business plan. Rather, it is about taking the lid off performance, ensuring company sustainability and relevance while fulfilling stakeholder expectations, today and into the future.
Key words: Transformative strategy, business transformation, ethical leadership, transformative leadership, sustainable performance, business rules, 21st Century.
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