Digital Transformation term is being used widely recently in technology corridors, but what does it mean for an enterprise ? What actions should an organization take ? are the points briefly addressed in this post.
Here are the 5 Action Steps.
Action 1 : Innovate your Business models/Services/UX
Action 2 : Focus and Transform Processes, not just technology
Action 3 : Construct a Comprehensive Governance Framework
Action 4 : Transform Culture (Working Culture)
Action 5 : Think how emerging technology can improve your product and services
Above is a very broad, quick, actionable bullet points items, which need a dedicated deep dive-in and bring out what specific points under each of 5 heads, needs to be covered in realizing the Digital Transformation dream. The deep dive will bring out the "Why", "What" and "How" of goals an organization wants to achieve.
Digital Transformation of companies doesn`t mean "only technology change".
Since an organization, or a company, a firm or an Enterprise, irrespective of it`s size and revenue, is a combination of People, Tools Knowledge, Skills and unique Capabilities, it has to take into account all 360 degree view of complete organization and bring out the best strategy for the company which is unique for it and is not a result of straight copy of business models of the competitors.
Only either of above 5 points, or few of them will not suffice, it has to be holistic. Of course it can be done in phases. We have seen many companies aiming for Digital Transformation without taking into consideration their "People" and "Process" aspect. More risky is aiming for digital transformation, without defining the "Value proposition" they want to realize. At the same time we have seen companies bringing out real value to customers, when the above 5 steps were thoroughly followed.
In above Exhibit, where on one hand, point 1 and 2 are more about business enhancers which will directly add to business growth , on the other hand, 3 4 and 5 are business enablers which will result in operational improvements.
So when you think of Digital transformation, you need to ask "How the new technology landscape help my organization in achieving new revenue growth along with how can we transom our operational part, encompassing tools, knowledge and processes with an essential `People` part in it".
This approach goes beyond the borders and cultures. The focus is more on enterprise to think deeply and see the "how we work and how we can add value in the market improving the customer growth and companies bottom lines".
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