structural (adjective, struc-tur-al, \ ˈstrʌktʃərəl \) transformation (noun, trans-for-ma-tion, \ ˌtrænsfərmeɪʃən \)
Definition:
- a) is the process of transferring a substantial amount of a company’s resources from one business unit (or other similar entity) to another that was provoked by a fundamental change that occurred in the organization’s policies or strategic goals.
- b) is a nation-wide transition from a labor-intensive economy to a skill-intensive system that allows a country to increase its productivity and income, and concentrate on the those manufacturing and service-providing industries that are currently in high demand.
In a Sentence:
- Dom-Ino is undergoing a structural transformation as the company is changing its business model. Reportedly, the management plans to shift their distribution focus from retail stores to its website.
- If a country wants its economy to evolve, it has to go through a structural transformation. A few countries in Africa have already completed this process, and several more are undergoing it as we speak.
Synonyms and related words: institutional transformation, waste transformation, transformation, transformation curve
