Thanks to digitization, companies across industries are racing to migrate “analog” approaches to customers, products, services, and operating models.
Some companies are redesigning their capabilities and operating models to take full advantage of digital technologies to keep step with the “connected” consumer – BtB and BtC. Others are creating qualitatively new business models – and tremendous value – around disruptive digital opportunities.
Managing digital transformation will decide which businesses will survive and which not
There is no debating it, becoming a digital company is difficult. Organizations face reams of change when facing digitization. But companies that don’t move in that direction, and move quickly, they will become a prime candidate to be disrupted them-self. Disrupt, or be disrupted.
Every company is a technology company. If the company don’t transform, the industry will be transformed
For those who still believe that digitization is about creating social media sites or developing a responsive website, here is the truth: Digital technologies will disrupt value chains, organizational structures, operational processes and revenue models. And they will change every industry and every company. Managing digital transformation will decide which businesses will survive and which not.
Consider how these digital organizations have disrupted industries:
- Uber – Digitized the taxi experience and transformed the transportation service industry
- Airbnb – A completely consumer-enabled and digital experience business model for hospitality
- Square – Revolutionized mobile payments that could disrupt banking and financial services
- Netflix – Traditional TV industry is been disrupted by “over the top” like Netflix
So the time has come for business leaders to answer four fundamental questions in order to secure their company’s future existence:
- How will digital disruption precisely affect our industry and business?
- How fast will it happen?
- Is our organization ready for the digital transformation?
- What are the essential next actions needed to redefine our company’s role in the digital world of tomorrow?
The real challenges of digitization is not technology #digitalization #corporateculture #fintechClick to tweet
The real challenges of digitization is not technology
But becoming a digital organization will require new leadership skills combined with connecting people, processes, data, and things.
Don’t let the digital transformation suffer from “The Titanic Disaster“. Titanic sank after colliding with an iceberg! Organizational culture is like an iceberg! The iceberg that sinks organizational change!
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The real challenges of digitization is not technology — http://www.torbenrick.eu/t/r/fid
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