It is not about Digital Transformation; it is About Transformation in Digital World
When you shift the traditional modus operandi of doing business to the modern technology platform its digital transformation. The profound transformation of business and enterprise activity, processes, competencies, and strategies leveraging the digital mix of technologies brings about a disruptive innovation in an organization.
“The secret of change is to focus all your energy not on fighting the old but on building the new”. Change is imperative; so is a digital transformation for all businesses. To which industry you belong is irrelevant, what matters is, are you willing to adopt it or not. Industries, such as logistics, medical, software, travel, hospitality,
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Due to increased mobile penetration and connected world Internet of Services, as the Internet of Things is enabling it, started playing a crucial role in digital transformation.
Factors Driving Digital Transformation
Technological Innovations: The speed at which technology is evolving is more impactful more than ever before. Nevertheless, technology change isn’t alone responsible for transformation, but it is also, about how it is used and adopted by customers, partners, competitors, and stakeholders.
Customer Behavior and Demands: This alleged customer behavior or customer induced information has nothing to do with the technology. On the contrary, technology is an enabler that causes and brings about change in the customer behavior and expectations when used by businesses. This is probably the best example to demonstrate how organizational disruption is not caused by technology but merely strengthens it when combined with other
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Technologies on the other hand always came with challenges and opportunities; whereas, regulations and ecosystems have always germinated. That is nothing new. Therefore, when we are speaking about digital transformation, it is not just embracing new technology, but it is also about bringing disruptive change in the thought and culture of an organization. Similar to social business, a digital business and any other forms of customer-centric marketing and business processes, requires the ability to work across silos. In many cases, digital transformation even is about totally reworking organizational structures, which can be as much about collaborative methods, Centers of Excellence as removing specific silos. It requires a strategic approach, maturity models, benchmarks and the end goal making it a
Once the new products are identified for your business (Milestone One), how has the use of technology helped or hindered this organization in determining which new products to
Managing transformational at National Computer Operations is an article discussing the dilemmas faced when a company is forced to implement changes within a two year timeframe in order to compete with other emerging computer technology companies. NCO’s Managing Director Gar Finvold, decided to review NCO’s market position and to look for improvement opportunities that change implementation enhancements would ensure that NCO would emerge and maintain their position as the leading computer support services firm.
According to Oxford dictionary, transformation is a marked change in form, nature, or appearance. Personal change management is based on our preferences and available alternatives. In terms of organizations, however, the complex process of changes takes a lot of efforts and time. It involves drastic changes on organizational level that are caused by either external or internal triggers. The example of external change is when competition pushes our businesses to meet certain standards and provide the same or higher level of product quality or service. Internal triggers to change are when an organization detects internal faulty processes that fail to perform and should be corrected within an organization. There are lots of economic factors that could have transformational impact on our businesses. Therefore, force organizations to change and transform companies into something else. For instance, currency devaluation, market globalization, emerging companies, competition, the evolution of technology, the
Hawkins (2009) states that transformational leaders scaffold all employees’ efforts towards the mission, advance communication avenues within the organization, and share all threats from competition to organizational waste to define the problems in addition to the need to reorganize for the future success and survival of the organization. Transformational leadership styles are critical to the progression of IT governance through achieving rap...
Brynjolfsson, E., & McAfee, A. (2011). Race Against the Machine: How Digital Revolution is Accelerating Innovation, Driving Productivity and Ireversibly Tranforming Employment and the Economy. Lexington, Massachusetts: Digital Frontier Press.
Changing situations throughout the world affect all organizations in business today. Therefore, most organizations acknowledge the need to experience change and transformation in order to survive. The key challenges companies face are due to the advancements in technology, the social environment caused by globalization, the pace of competition, and the demands regarding customer expectations. It is difficult to overcome the obstacles involved with change despite all the articles, books, and publications devoted to the topic. People are naturally resistant to fundamental changes and often intimidated by the process; the old traditional patterns and methods are no longer effective.
Netflix is a classic example of ‘Disruptive Innovation’ as it illustrates how a technological vision transformed the industry (Halal 2012). As characterised by Christensen (2008), disruptive innovation disrupts the trajectory by initially providing an inferior performance to existing product and serving a market segment that was not or could not be attended before. The uprising of Netflix disrupted and exerted tremendous pressure on Blockbuster Inc. which eventually filed for bankruptcy (Zalewski 2013). Netflix primarily falls under Radical Change in the Trajectories of Industry changes since core assets and core activities of the business are constantly under challenge (McGahan 2004).
Digitization: An ongoing process of creative destruction innovators use both new and established technologies to make deep changes at the level of the task, the job, the process, even the organization itself. (Erik Brynjolfsson, 2011)
In this age of rapidly changing technology, market-driven decision making, customer sophistication, and employee restlessness, leaders and managers are faced with new challenges. Organizations must build new structures and master new skills in order to compete and survive.
In every business offered by any organizations, it is very important to ensure that the customers will always satisfied with services provided. People nowadays are looking for the new technologies, new markets, new ideas and also new inventions. Thus the organization must always keep up with the current changes in demand to ensure that their services are still relevant to the customers. The changes of demand also called as an evolution and to achieve these, the organizations are advised to have a process that we called as “Business Transformation” (“Business Transformation: The Importance of Change,” 2014).
Organizations and individuals have to strategically position themselves in order to take advantage of the growing technology and achieve business competitive advantage while at it (DeHaven 2010 pg 1). Technology has enabled globalization; where ideas, products and services have been shared. This has promoted foreign businesses thus helping different economies all across the globe. Different organizations and individuals have realized that technology will keep growing and changing and the best strategy will be to adapt it other than holding to rigid ways of doin...
As society grows and evolves, technological advancements and innovations continue to develop and consistently change different aspects of our society. For an organization, understanding how to manage these innovations is essential for their proper utilization and implementation. With technological advancements and innovations constantly emerging, it is important for an organization to stay aware of which new technological innovations can help them be successful. Organizations are always looking to set themselves apart from competition through innovation.
Turban et al. (2007: 6th edition) Information Technology for Management: Transforming Organisations in the Digital Economy. Wiley
Managers must understand how to achieve efficiency internally through applying new technology to operational processes. Managing new technology requires a thorough understanding of business technology management.
Advances in technology have changed businesses dramatically, in particular the communication and information technology that are conducted in firms, which changed the appearance and pace of businesses over the past few decades. ICT in particular, has evolved a lot over the past 30 years; important information can be stored in computers rather than being in drawers enabling information to be transferred at a greater volume and speed (Guy, 2009). ICT has also expanded various forms of telecommunications and workload conducted in businesses, internet examples of this include: e-mails can be used to communicate with others...