Dealing with Disruption - Is Digital the New Normal?
Digital no longer represents merely one component of a larger strategy. It is now foundational. It’s no longer a question whether or not digital avenues will be considered but a question of how.
The old normal - traditional business with a growing digital element - value chain flowed in a linear, predictable pattern.
Consumers drive the digital new normal - the value chain is no longer static/linear but fluid/multi-directional. Digital is the central driver of future operating models, consumer relationships & revenue growth.
Time – think it…do it – speed rather than perfection wins…..
Cost – fail fast, fail cheap is the best form of learning…..
Access – standardization of access with global reach…..
Disruption Is the New Normal
Few established businesses have a single view of the customer. Ignorance of the customer journey is no longer acceptable in the digital age. These knowledge gaps present opportunities for aggressive new entrants or born-digital disruptors to move in quickly with a more customer-centric, service-based approach.
Typical Disruption Barriers
- Organizational Silos
- Legacy Processes
- Cultural Resistance to Change
- Lack of Innovative Thinking
- No Digital Leadership Capabilities
Potential Steps for Digital Success – Surya Can Help
- Create Your Digital Strategy – Need To Expand Your Innovation Ecosystem & Outpace Change
- Understand People Are More Important Than Technology – Promote Digital Mindset & Develop Competencies
- Transform Legacy Systems, Processes & Attitudes – Inspired By Customers – Driven By Business
- Digital Is A Strategy Involving Cultural & Technological Evolution
- Digital Transformation Can Be Evolutionary, Incremental & Iterative