As a follow-up from my last article - where I shared thoughts on one of the key differentiators for the businesses of tomorrow being the ability for people to make data-driven decisions within an environment of emerging, fast-paced transformation - this month I dig a little deeper into how sensing your market and making sense of your data are crucial in remaining a competitive and viable business, enabling you to continuously change faster than the competition.
How I learned to lead a creative force within.
Digital evolution is an ongoing journey for every business.
Gone are the days of saying that you have ‘done’ digital after a major technology overhaul. Instead, it is an evolution to transition and optimise your business continually. Even digitally native companies know that they have to innovate and stay ahead of the game because of growing disruption and rapid technological change.
Most digital transformation strategies are neither strategic nor transformational.
Michael Porter, the famous Harvard Strategy Professor said “If we’re satisfied with vague strengths and weakness lists, we’re not thinking very clearly about strategy”. “There’s a distinction between operational effectiveness and strategic positioning”.
“Should we be on the cloud or have our own servers? That’s an operational effectiveness question. What we understand is that operational effectiveness is not strategy”.
Digital transformation starts with a change in mindset. How much time and resource should an organisation commit to making that mind shift?
It’s said that “strategy is where we create our competitive advantage”. How much money, how much time and how many people are dedicated to finding a new competitive advantage?
“Culture eats strategy for breakfast” according to Peter Drucker. How much of your business resource is invested in changing that culture?
In the 5 Change Blocks of Digital Transformation, we highlight the ‘process of innovation’ as a key element. But what do we mean by “innovation”?
Employee silence occurs when employees make conscious decisions to not provide information, opinions and feedback, raise issues or make suggestions. It can occur for a number of reasons, such as a belief that providing an idea or feedback is futile as it will be ignored, or a fear that expressing a view differing from that of colleagues or management risks professional relationships, job opportunities and security.
On the 9th of June, The Business Transformation Network held a VIP event on Delivering Customer Centric Continuous Improvement, which was attended by Director level transformation professionals from a number of FTSE organisations and alike.
Below are some of the key thoughts and notes from the evenings’ event, which will give you an insight into the discussion points:
A big thank you to Russ Miles who hosted our most recent TTN event, 'Business Innovation in Conjunction with New Technologies'. It was a great evening that raised lots of thought provoking discussion. See below for a brief summary of the points covered.