What is Strategic Transformation?
In any business, a strategy plan is always established to outline the mission and vision of the business and how the leadership aims to maximize their company’s potential fully. But in our ever-changing world, sticking to your established plans might not always work. What may be the perfect strategy for your service business today might fail by tomorrow. That’s why allowing your company to undergo strategic transformation can be a great benefit.
With strategic transformation, changes are implemented to the operations, models, or even to the company’s essence to improve and maximize profitability in a changing market environment. These transformations are based on data-driven analyses as well as creativity to ensure a successful service business.
Formulating how to transform your service company’s strategic plan begins with these steps:
- Using market research to determine needs and requirements.
- Conducting benchmark evaluation of the internal productivity and efficiency
- Determining the size and forecast of the Total Available Market and revenue potential
- Identifying and evaluating strategic options in terms of revenue
- Developing of the Servitization Strategy and Business Plan
Benefits of Strategic Transformation
By determining how to improve your strategic plan, your company can gain numerous benefits, including but not limited to:
- Higher service revenue and profit
- Improved responses to customer needs
- Improved innovation
- Creation of new revenue streams
- Increased customer loyalty
- Setting higher barriers to competition
And to achieve these benefits, Blumberg Advisory Group has developed a Servitization Map that can help your service business grow into a reputable service provider.
Reinvent & Redesign for Growth with Blumberg Advisory
Your company deserves to reap the full benefits of Servitization. That’s why we at Blumberg Advisory group have developed a Servitization Map. This framework, delivered by our expert consulting team, provides objective, data-driven analysis and the creativity needed for success. If you’re ready to map out your Servitization journey, contact us here to help you maximize your company’s potential.
Why Work with Blumberg Advisory?
Blumberg Advisory Group is a leading research and consulting firm to the Field Service, Reverse Logistics, and Aftermarket Service Industry and has been in business for over 40 years.
We pioneered helping companies manage service as a strategic profit center. Our clients include leading brands such as IBM, Siemens, ABB, Fujifilm, Kodak, Johnson Controls, Schneider Electric, etc. and have experience in a broad array of vertical markets:
Information Technology
Telecommunications
Industrial Automation
Medical Devices
Life Sciences
Building Controls & Systems
Heavy Equipment & Machinery
Consumer Electronics & Appliances
Let Us Help You With Your Business' Strategic Transformation
Schedule a free consultation with us today!
