The increasing complexity of web technologies and internet and their swift evolution has imposed lots of challenges for the business organizations and companies. They are projected to attain optimal operation of their present information system for business performance while safeguarding integration of latest web and internet technologies in their technology architecture. To sustain the pace with such customer needs and competitive environment enterprises needs to provide a sustainable and innovative solution which has got an edge over other players in the market. So, for that purpose many organizations experience process of business transformation.
Now essentially what is business transformation as per Mike Giuffrida? Business transformation is the principal change to the way a business functions, whether that be moving into a new market or functioning in a new way. It is a method that attempts to support an organization’s activities relating to individuals, technology and process more closely with its business vision and strategy. This important change aims to meet long-term purposes. Some of the foremost key drivers of the companies of Michael Giuffrida are time shifting, cycle time, logical costs, re-skilling, convenience and speed of delivery. Majorly in business transformation customers demand is primarily about more service for less money in less input and with less time.
To get substantial profitability and cash flow, the business leaders go for definite business transformations which will make your performance supportable. Some of the project or the toughest challenges requires fundamental changes in the business model. At definite times there is a requirement to get back your strategic creativity back on track to deliver effective outcomes. The business transformation will aid your organization to attain higher customer service levels and an improved customer experience. A knowledgeable manager like Mike Giuffrida has worked across the world in economic services, with deep experience in Bank Risk Management, Asset and Wealth Management, and Insurance. Personal skills include communication and leadership skills, organized problem solver who works well in team environments. Experienced in dealing in tough situations and therefore a highly regarded resource in emergency situations. Stronger invention, with new services and products launched with augmented speed to market in Hartford and Southington and reduced risk of catastrophe through correct design of the delivery assurance and transformation of the programmed purposes and the business case.
According to Mike Giuffrida , there are five rudiments of business strategy i.e. trigger, vision, framing alternatives and selection. And consistent with it there are eight essentials for transformation strategy they are alternatives and scope, establish capabilities, target model, governance, energize people, ecosystem, business case and individual case and design principles. Hence, the principal challenges for the companies of Michael Giuffrida providing solutions and company taking the solution is that there should not be any struggle in assimilating new technology with prevailing architecture while ensuring adaptability and flexibility.
Lastly, the organizational course that advocates the deliberate intent has to be vibrant about the points that required to be achieved, the type of capabilities and values that are required and how all this is going to be executed for effective change management to take place.