International Journal of Transformations in Business Management

International Peer Reviewed (Refereed), Open Access Research Journal

E-ISSN : 2231-6868 | P-ISSN : 2454-468X

IMPACT FACTOR : 5.987 | SJIF 2020: 6.336 | ICV 2020=66.47

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Abstract

Vol: 12, Issue: 4 2022

An Investigation on the Strategy Formulation Methods used during Corporate Transformation

Noushad Ali, Dr Peeyush Bangur

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.

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