The need for Business Transformation in light of ever-shortening business model life spans

Disruptive forces and broader economics are driving changes in business on an ever growing scale and at an ever faster rate, shortening the lifespan of business models across all industry sectors, demanding radical change. The impact of Covid-19 has accelerated the need for change across nearly all industry sectors by exerting greater pressures on many businesses whilst offering opportunities to others.

Business leaders must consider how to disrupt their business models on their own terms before they are disrupted by economic forces or new market entrants – self-disrupt and thrive, or be disrupted and fail.

What is business transformation?

"Transformation" of a business can include any one or combination of strategies depending on the drivers for transformation and the ultimate long-term objectives and can vary from selling non-core assets to improving your capital structure, from creating new supply chain models with other market participants to implementing new technologies or route to consumer platforms.

In this series we consider the various aspects of formulating, preparing and implementing a transformation strategy, starting with the right mindset.

The right mind-set – what does it take?

Whatever the ultimate aim, transformation involves a mix of clear strategic vision, granular analysis and highly effective preparation and process. However good the planning, problems and challenges will arise: the process also requires an open and flexible mind and lateral thinking, not easy to maintain during a long journey. It is critical to see both the woods and trees throughout. Below we consider the key elements of the mindset needed.

Addleshaw Goddard has the experience and expertise, across all key industry sectors, required to advise you on your business transformation strategy and the team to help implement it. Our core team is set out below; please feel free to contact any of us.