Vol: 12, Issue: 4 2022

Page: 23-36

An Investigation on the Strategy Formulation Methods used during Corporate Transformation

Noushad Ali, Dr Peeyush Bangur

Received Date: 2022-10-20

Accepted Date: 2022-11-04

Published Date: 2022-11-21

http://doi.org/10.37648/ijtbm.v12i04.002

It has been stated that transformation is modern society's attempt to prevent extinction in the face of digital disruption. While it is critical for leaders to develop new strategies, business models, and organisational projects that embrace change, the true issue is directing their people through the transition from their present state to their intended future state. This necessitates constantly assessing progress and adjusting based on new information provided by emergent intelligence. During the strategy formulation process, the majority of these businesses rely heavily on their internal research and development teams or innovation departments as one of the primary sources of innovation. While small independent teams can generate impressive leads during the invention process, it is these organizations' ability to incorporate these leads into full products while incorporating other components that is truly impressive.

References

• Michael B., and Nitin N., (2015). Cracking the Code of Change, Harvard Business Review
• Harold L. S., Perry K. and Alan J., (2015). The Hard Side of Change Management, Harvard Business Review.
• David A. G. and Michael A. R., (2015). Change Through Persuasion, The Hard Side of Change Management, Harvard Business Review.
• Paul N. and Tim B., (2016). Reinvent Your Business before It’ s Too Late, Harvard Business Review, (January/February, p. 83).
• Petri A. and Jenni M., (2018). The Practice of Creating and Transforming a Business Model, Journal of Business Models, (Vol. 2, No. 1 pp. 6-18)
• Anne-Mari H., (2019). Business Model Transformation Process in the Context of Business Ecosystem, Oulu Business School, University of Oulu
• Michael L., Patrick L. and Larry L., (2018). The Design Thinking Playbook: Mindful Digital Transformation of Teams, Products, Services, Businesses and Ecosystems, John Wiley & Sons, In.
• Eric R. and George R., (2018). The chief strategy officer playbook, Bright Light initiatives. “A Case Study on the Transformation of the Engineering Organization at BMW 2006-2012”, April 10, 2013)
• Diana V. and Pelle W. (2018). Four types of strategy work: Choosing the right implementation approach, The chief strategy officer playbook, Bright Light initiatives.
• Rita D. M., and Ian C. M., (2017). Th Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty. Harvard Business School Press.
• Mohan N., (2017). Strategic Business Transformation The 7 Deadly Sins to Overcome, John Wiley & Sons, In.
• W. C Kim. and Renée M., (2016) Blue ocean strategy: how to create uncontested market space and make the competition irrelevant, Harvard Business School Press.