Digital Business Transformation

“Digital “has the dubious distinction of being one of the most commonly used business terms of today, and one of the least well defined.

What is Digital: The convergence of multiple technology innovation enabled by connectivity, Naturally, these innovations evolve over time, but the most relevant technology innovations today include big data and analytics; cloud computing; mobile solutions; social media and other collaborative applications; connected devices and IoT; artificial intelligence and machine learning; blockchain; and virtual reality

What is Digital Business Transformation: Digital business transformation is an organizational change though the use of digital technologies and business models to improve performance

Objective:

1.   Digital business transformation is to improved business performance  

2.   Digital business transformation is based on a digital foundation

3.   Digital business transformation requires organizational change – Change that includes processes, people, and strategy.

In sum, Digital business transformation involves much more than technology  

The Digital Business Transformation Journey

Why to Transform:  Assess your digital opportunities and threats

What to Transform:

· Choose how to differentiate by combining cost value, experience value, and platform value

·  Choose your appropriate response strategy: Harvest, Retreat, Disrupt, and/or Occupy

Digital Response Strategy Playbook

Defense

Retreat: Withdraw from business when revenues dry up, or move into niche

Harvest:  Block disruptive threats, maximize revenue from businesses under attack

Offense

Occupy: Win the competition for new market by out- competing rivals

Disrupt: Disrupt your own core business or create new markets

How to Transform

·      Define a roadmap for digitization across your organizational value chain

·      Build Digital Business Agility: Hyperawareness, Informed decision making, and Fast Execution

Management also must change

New offers for Management Personnel

Examples

·      Innovation Leadership: Guide innovation through leadership

·      Digital Leadership: Managing in the Networked World

·      Agile Management: The Role of the Manager in Agile Teams

·      Design Thinking : Leadership Garage