Research on the 7 Business Transformations (Choose 1 transformation): 1-From sup

Question

Research on the 7 Business Transformations (Choose 1 transformation):

1-From supplier-centric to customer-centric.

2-From push to pull.

3-From transactions to relationships.

4-From ‘trucks and sheds’ to ‘end-to-end’ pipeline management.

5-From functions to processes.

6-From stand-alone competition to network rivalry.

7-From inventory to information

For example, if you choose From inventory to information

Answer the following:

1. What is this business transformation?

2. Why is this important to business?

3. What happens if your firm does not observe this transformation?

4. What skills are needed to make this transformation?

5. What technology do you need to make this transformation?

6. Give a specific case example. ( 5 sentences long paragraph. - You may use
any resources - the internet, books, ...)

Explanation / Answer

1.

This business transformation comprises of giving a different color to the way business is conducted.

2.

So, instead of treating the daily monetary events as merely transactions, one creates more value by regarding these trivial affairs as part of the relationship formation.

3.

If the firm is not observing this transformation, the usual approach is only applied. This disregards the unique aspect which is associated with the business transformation.

4.

The foremost skills are required in the training of the human resources. The people handling the day to day business scenarios must be versatile enough to adapt to the changes.

5.

No technology as such is required. It’s more of the change in the mindset.

6.

For instance, buying toilet rolls the small scale cottage industry provider not only provides employment to the needy ones but also ensures the raw material used is organic and environment friendly. This though is merely a monetary transaction but viewing from a different angle provides a different picture of the scenario.

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