Strategic transformation may be necessary in response to market changes from "summary" of The New Strategist by Gunter Muller-Stewens
In the dynamic business environment, organizations must stay alert to market changes and be prepared to adapt their strategies accordingly. Strategic transformation may become necessary when external factors such as shifts in customer preferences, technological advancements, or competitive pressures create challenges that cannot be overcome with existing approaches. When market changes disrupt the status quo, companies must reassess their current strategies and consider making significant changes to remain competitive. This may involve reevaluating their business model, entering new markets, developing new products or services, or even restructuring the organization. Strategic transformation requires a holistic approach that involves not only changing the external-facing aspects of the business but also addressing internal processes, culture, and capabilities. It is not a quick fi...
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