Business transformation is an overarching term for making fundamental changes in how a business or an organization is run. It might include strategies, structure, processes, leadership, culture, and technology.
The aim is to boost organizations to become more efficient and relevant to their customers and reach exponential growth, beyond the typical incremental advancements. It may mean unlocking the potential of employees and harnessing intellectual property and proprietary technology.
The realization that transformation is becoming urgent for a broader scope of companies within the life science industry is spreading.