With every company in the world on the gold rush to establishing a digital infrastructure, there are two key questions grappling business leaders. One is about which model ought to be followed for its implementation. The other is about the right kind of people who must be in charge of this transition. If these questions are addressed, the wrong way, it will instead send the company on the opposite downward spiral. Digital business models differ fundamentally from earlier forms, and so need to be approached accordingly. Digital offers enormous scope for data warehousing, processing power and bandwidth. Before plunging headlong into this, the team needs to address the overall ambition of the firm. They also need to understand in which aspect do they most need to accelerate to ensure the correct implementation of company objectives. The company needs to be digitally mature in the most critical of its areas. A strong governance structure also ought to be implemented at first Digital natives such as Zappos or Spotify have been able to negotiate this strategic transition more smoothly. Some established firms too such as the Netherlands-based ING have come out of older, linear structures to become digital players on an equal footing.

Source:https://www.bcg.com/publications/2017/technology-organizing-for-digital-future.aspx

Uploaded Date:22 June 2018

Corporate transformation has become the new buzzword, especially for digital initiatives. Management consulting giant BCG in a study confirms that a little over half the large companies are going through some sort of transformation and nearly three-fourths of them have overlapping programmes to execute this. Few companies though have proper change-management policies in place. That is why BCG has developed its Transformation Impact Platform (TIP) where the right tools have been produced from the 750 plus clients the company has worked with in the sphere of transformation. A sense of commitment from the organization is first cemented followed by a dedicated execution achieved through the BCG Impact Centers. Bureaucracy and inertia are first stripped off by TIP which follows a three-dimensional approach. Those triple maxims are- energize, equip and execute. TIP performs better than rivals as it has greater flexibility in approach and produces results quicker. Its impact is sustainable, not only immediate. TIP’s portfolio management is extremely adaptive.

Source:https://www.bcg.com/capabilities/transformation/business-transformation/bcg-new-platform-ensures-transformations-hit-targets.aspx

Uploaded Date:15 June 2018

Bain and Company recently conducted a survey to gauge digital preparedness. Two major conclusions emerged. One was that companies who effectively transformed to their digital avatars reaped the benefits in exponential figures. The other conclusion is that few managed this. Five categories of companies based on their level of digital readiness were included in this study. The study even compared the dichotomy between conventional and digital transformation. Conventionaltransformation was achieved by twelve percent of the sample, in comparison to digital which was only done by five percent. A fifth failed to deliver in either case. About three-fourths of the companies settled for a diluted version of digital transformation while the fraction was two-thirds in the conventional case. A balance is needed between the outer and inner games. But most companies prioritize the former which includes customer engagement and outreach through strategies such as digital marketing. The inner game focuses on the right investments and experiments. There are three things usually common to those who go through successful digital transformation. One, a clear alignment from the top between the corporate strategy sought and the actual execution. Then comes prototyping through investment on agile work ways. And the third is by building a virtual network and empowering the frontline workers who bring about the real change.

Source:http://www.bain.com/publications/articles/orchestrating-a-successful-digital-transformation.aspx

Uploaded Date:13 June 2018

TMT has released its annual report for 2018 on the business value creators. When it comes to value creation, it is digital natives that are leading the way. Technology is ultimately the engine leading to digital transformation. New business models are forcing the traditional market-leading companies to tumble. This is true even for the media industry where traditional players have massive leads. But social media and the induced need for digital marketing is forcing a change here too. There existed several communication bottlenecks which are being breached gradually using telecommunication. Digital value creation can only take place with the appropriate use of digital enablers.

Source:https://www.bcg.com/publications/collections/tmt-value-creators-report-2018-hardwiring-digital-transformation-b.aspx?linkId=48894552

Uploaded Date:13 June 2018