At a time when the pandemic gained momentum, many fundamental functions behind the digital transformation have been key catalysts to deal with the crisis. From internal communications happening virtually to cloud-based platforms automation, clearly, these solutions are set to emerge as permanent components of the standard enterprise.
Many companies consider their digital transformation to be a subsidiary branch of marketing or IT, mainly because their initiatives are focused on technology or around the product. On the other hand, many of the executives considering this transition don’t really grasp its implications beyond the implementation of digital tools or building IT infrastructures.
Leveraging digital for Business strategy, not the other way around
Over the past few years, major business strategy contributors such as Deloitte and MIT Sloan carried out global research to find out what differentiates digitally mature organisations from others. According to their insights, what gives leaders an edge on competition isn’t the tech itself, but the way it was integrated and how it was leveraged for business. Solutions and infrastructures were not simply empowering their established processes and practices. Quite the contrary, these acquired assets drove the re-imagining the nature of their operation models.
Business and digital are becoming increasingly associated, in such a fashion that one can hardly be thought of without the other, and not only for large-scale companies or technology firms. At this point, the decision maker’s concern is not “why” or “when” to address this challenge, but rather “how” and “where to begin”.
Integrating technology into overall architecture and strategy is crucial to achieving business objectives. However, this cannot be accomplished through deployment of multiple stand-alone solutions in response to specific narrow problem sets. Leveraging a coherent digital strategy across the entire value chain is the key to ensure your potential to grow and deliver transformational impact.
Tech-Savvy Leaders Should nurture Talent and digital Culture
While hierarchical organisation may have served well production-oriented economy a century ago, such structures do not have the attributes required to effectively lead current business models. According to the same research, there is two leadership elements holding the management back on their journey to embrace digital success : agility and risk taking.
In a period of great complexity, leadership is especially vital during transition. But due to insufficient involvement of decision makers in day-to-day operations, capturing the potential implications of digital on work activities remains a tricky task. Strong managers exert a positive influence on the workplace culture, through providing employees with the inspiration and competencies required to deliver on their objectives. Therefore, it’s very important to ensure that top-down initiatives are guided by digitally literate executives.
Conclusion : crossing the digital chasm
There is more to digital transformation than just IT systems, leveraging the cloud solutions or moving your marketing initiatives to the digital environment. The point is not to have an ambitious roadmap, but to build a well-rounded business strategy that integrates all the digital capabilities together for strategic end.
Focus less on buzzwords or trendy jargon surrounding digital. The fundamentals of business are still unaltered, yet with the emergence of the numeric wave, accumulating digital means will not necessarily give your firm an edge on competition. Customers must stay at the heart of your proposal, suppliers will always be your powerhouse, while markets will forever remain uncertain and unexpected. Addressing your clients’ needs and expectations is the longest race. Sure, technology is an integral part of the answer, as far as it’s focused towards a strategic business purpose.