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When is the right time for your business transformation??

Created by : Purvi Ghosh, Marketing analyst, Percept Advertising  | 07 26 2010 07:02:22 +0000
Industry : Consumer DurablesFunctional Area : Business Policy(Strategy & Execution)
Keywords : business & strategy business transformation business overhaul transformation of business transforming your business
Activity:  294 views;  last activity : 08 03 2010 16:41:09 +0000

If a brand is doing well, growing year after year, people go for transformation, transformation happens mainly for 2 reasons one when the going is good, so that they can target new market and other stuff, and the other reason being when one's business is going through a crisis, so there is a  overhaul of few things so that they get back on their feet.


http://www.ibhar.com/images/Business-transformation.gif

But seriously, When is the right time for a business transformation? when the going is good or when it is in a crisis??  Do share your views on this....

  
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When the going is good Vs When it is in a crisis
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I agree with your views Ms.Purvi Ghose.

It is always advisable for doing transformation when the business is on the flourishing stage which will facilitate/enhance good returns.

 
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  07 26 2010 18:20:38 +0000
 
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Every time is the right time to transform, but a company is truly judged when the transformation is made in time of crises. And so many companies does that. \

Profits can be made in good times as well as bad times!!

It all depends how hard we push for taking care of employee sat as well. So that's why I voted on this side..
By Satwinder Singh, Program Manager, Confidential  07 27 2010 07:47:25 +0000
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When the going is good becaus it is possible after that it might reach maturity & start declining as there will be nothing new to offer unless you offer something new.
By Wajid.Pathan , Enterprenuer (Designer /Developer/Supplier), Self Employed  | 08 03 2010 16:41:09 +0000
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actually it entirely depends on situation when it needs then do proper evaluation and analysis then go for it
By Vivekanand , Senior Consultant (Economic & Rural Research) SAARC Nations, United Nations Development Programme  | 08 02 2010 12:34:13 +0000
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It is difficult to specify a right time for business transformation. Continuous Environmental Scanning helps to keep tabs on the business trends in the specific domain. Based on an analysis of the key issues facing the business and the goals that are needed to be achieved and the ROI expected from the business transformation, the change is initiated.

This change can be during the good or bad times. However, change during the bad times is generally undertaken to ensure that the organization will become better in the future. Change is undertaken during the good times to further capitalize on the good business conditions and exploit these conditions to further attain a higher growth in the future...
By Badri N Srinivasan, Head - Quality, Valtech India Systems Pvt. Ltd.  | 07 27 2010 17:18:47 +0000
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I THINK WHEN IT GOINT IS GOOD. TANSFORMATION REQUIRED WEALTH AND STRATEGY BOTH THESE COMES IN OURSELF @ WHEN COMPANY IS GETTING GOOD RETURN.
By RAVI PRATAP SINGH, B.E.(Honos.), Mechanical Engineering  | 07 27 2010 05:13:54 +0000
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Business transformation is normally done to achieve a quantum additional return on top of what the strategy already is. When correctly timed such a transformation can provide rich rewards and focus the business both in the minds of the employees and the clients.
By RAMESH KANDADAI, Principal Consultant, ARM Consultants  | 07 27 2010 03:25:10 +0000
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Hi all, In my Opinion transformation need when business is near to mature, if business is in maturity stage then profits will be stable and customer may move and can demand for change so we have to customize the things as per customer's perspective...
By Arvind singh lodhi, Sr. Executive, Cognizant Technology Solutions-UBS  | 07 26 2010 17:46:45 +0000
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Hello Purvi,i think it is correct to transform when things are going good but latter part will become obvious to run the show!so it depends on the current situation.i think there is no hard and fast rule as such.natural and wise option will be to change when everything is going good.
By jairaj shyam prasad, Production Manager, BOSCH Ltd  | 07 26 2010 14:37:16 +0000
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I believe a business should be transformed both when the going is good and when it is in a crisis. The reasons are that you transform your business hen the going is good so you are as ready as you can be when the crisis arises, and you transform your business when it is in a crisis to overcome the crisis and be ready for when the going is good. A business can never be static, it must be alive, flexible, nimble and dynamic.
By Robert Moore Bernardos, Senior Finance, Operations & IT Executive - advisor to foreign investors  | 07 26 2010 09:00:15 +0000
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I think it would be better to go for a transformation in a business when the going is good, I would like to take an example of Godrej company which is there from our grandparents days, and suddenly they went for a corporate re-branding effort in 2008. Present in around 27 product categories with close to 100 products, brand Godrej suddenly donned vibrant
colours while retaining its signature style in its logo at the start of the Indian Premier League 1 in 2008.

And their effort is geared to address future consumers. And they believe transformation should come when times are good and not when you are in a crisis. Otherwise, investments come under pressure. The Indian market and consumer are changing fast and one need to address that.
By Purvi Ghosh, Marketing analyst, Percept Advertising  | 07 26 2010 07:02:22 +0000
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TRANSFORMATION BECOMES A MUST WHEN THE GOING IS NOT GOOD AND THE NEED FOR MID COURSE CORRECTION BECOMES INEVITABLE AS THE BUSINESS MUST RUN AND SHOULD NOT BE WOUND UP.

TRANSFORMATION WHEN THE GOING IS GOOD IS DONE, TO CONSOLIDATE YOUR POSITION AND TO INCREASE OPPORTUNITIES TO INCREASE THE BOTTOM LINE.
By s.baalu , Consultant, XYZ LTD  | 08 02 2010 12:25:51 +0000
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Best time for transformation is of course during recession and all major companies have done it on some or other day when faced with crisis.let it be GE, FORD ...........................
By Anupam Pandey, Asst. Manager/Manager (Technical), Indian Air Force  | 07 26 2010 23:36:06 +0000
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In my point of view transformation is not only suitable when business is going good, It is also one of the best strategical step for a business organization when crisis comes in business. 

I can give a example of Satyam computer service Ltd. Which became famous after coming in crisis. Most of the people invested money in it when it value had gone down and Kotak mahindra takeover it which had not have any experience in Technology. This is one type transformation.

We can take others examples of transformation Coca cola, Pepsico and Nestle. Which transformed after coming in crisis whether it is products range or its price.
By sanjay kumar, MBA/PGDM student, LLOYD BUSINESS SCHOOL  | 07 26 2010 08:47:40 +0000
Argue for "When the going is good"
Argue for "When it is in a crisis"
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