Business Transformation Strategy – Growing Business with Diversification

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An ancient method used by mankind to survive is to migrate from one place to another in search of food, shelter and vegetation. Business transformation is same as a person’s behavior. Business thrives under the optimum stance of its market value. As soon as a business realizes that its market value has decreased it shifts the technology and manpower to a different line of business. This is supposedly a new venture that requires a complete registration from scratch. People do not believe in this kind of change because the company is new to the product line. There are several competitors ahead of this venture and a procedure requires commitment from internal and external customers.

Predictably, one could imagine how the phase changes a company’s reputation. A few successful ventures are Wipro, HCL, HUL and Aditya Birla. These are the success stories of the present. But, the transformation was not easy for them as it included the risk of loosing potential internal customers to other business entrepreneurs. Entrepreneurship comes with great responsibility which involves social responsibility with a great deal of importance to patriotism. Patriotism forms the basic platform for any business to succeed. Businessmen tend to become selfish such that they form alliances openly i.e. defensively promoting other business lines depending on the contract.

Some of them do this offensively by directly becoming the opposite party of their venture. This is called offensive marketing where the companies contract with one another to showcase their product by taping the investors and customers emotionally. Some businesses mark themselves as niche marketers by showing a new innovated technique that does not compete defensively or offensively but standing out in the crowd.

The double cross of this strategy is; consumer centric popularity and broad investment agenda. This strategy not only invokes customers to try the new product under the proper regulatory norms as well as invites investors to inquire their possibilities of partnership. In short a business cannot be transformed with out proper market research and investment strategy in place. After all, people are the ultimate verdict of any business to succeed. Business transformation is an identical expression of new venture with a firm capital investment with experienced industry gurus. Our modern business invites multicultural and cosmopolitan audience and internal customers who demand attention via traditional path.

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