In this series of perspectives we will share what we believe is needed to accelerate digital transformation. Please sign up here to receive our perspectives via email and to get invited to any future thrive through transformation events.
It’s important to acknowledge that an effective ‘journey’ to digital transformation is not easy or quick. Many organisations get caught in an endless loop of simply doing digital things and launching new digital projects. But this is only an illusion of being digital – a fact the pandemic has made painfully clear.
Critical changes are needed to business models, operating models, and/or business ‘DNA’, and companies should expect to graduate through stages of digital maturity.
It’s time to retool digitalisation strategies to match the exaggerated pace of acceleration set by the last few years. As discussed in Deloitte’s article ‘Digital transformation: Acceleration with control’, the goal here is not just to ‘do digital’ but ‘be digital’, and to become future proof – able to weather future disruptions.
Digital is making work better for humans, and humans better at work. Digital transformations are considered an absolute necessity to remain in business. The ‘people dimension’ of these transformations – covering culture, structure, ways of working and leadership – is seen as the single biggest difference-maker in achieving transformation outcomes.
Last few years have led to shifts in consumer behaviours, values and needs. This opened a window of opportunity to accelerate on the digital transformation and tap into the potential of new growth opportunities. This article focuses on the ‘customer’ side of what is required to drive top-line growth and thrive as a business..
For many organisations, the COVID-19 pandemic has revealed capital to be either the lifeblood of business or under-performing assets that might not be fit for purpose in the 'next normal'. Crisis can allow reflection and fundamental challenges to strategic goals and portfolios.