Contemporary trends in the global economy, including development of global Information technology result in more and more companies becoming global enterprises. To mark its existence on the global market, a company should not only have suitable financial means, assets and workforce but also most importantly an efficient system of management. The paper presents a following hypothesis. In order to stay ahead of their competitors, a company should have a management system which would allow them to react instantly not only to opportunities but also to existing and potential threats. The traditional organization is no longer competitive. Based on hierarchical structure it is not able to take advantage of opportunities created by globalization and protect itself from threats which may arise. Thus, transformation should take place here. Replacing a hierarchical organization (object oriented) with a flexible organization (problem oriented) seems promising. Specialist literature refers to it as a project oriented organization. The first part of the paper presents methodological problems of applying reengineering and x-engineering approaches to the transformation of the organization. The second part contains an analysis of effects and barriers of the transformation exemplified by the organization which has undergone the above mentioned process.