Digital Transformation is top priority. Your organization needs to strengthen the vision, set the strategic direction and to create the needed competencies. But where to start? The task ahead does seem overwhelming for many business leaders.
You might have started by inviting an external consultant or inspirational speaker to one of your internal events. To shake things up a bit. There you would have heard about disruption and why your particular business model won’t survive the next couple of years. The speaker would mention Uber and the taxi industry, the Kodak case and how Netflix threw Blockbuster out of business.
After delivering the almost apocalyptic prophecies of exponential growth (here the audience nodded), the speaker left everyone in the room with a bit of fear, uncertainty, but no real solution for your particular organization. After the event a board member turned up and you both agreed, that disruption should not happen to you. “Do something about it”, he added and left the room.
So you are going to “do” a digital transformation”, right? You understood the sense of urgency, but still don’t think you got any tools at hand on where to start, where to set priorities and how to merge the efforts with the company’s overall strategy. You feel your task is to avoid disruption, to avoid being the new Kodak – not the most exciting of motivations. Oh yes, and the board member also would like to see some improved numbers in the e-commerce section of the balance sheet, because that is where digital has its impact, right?
What now, do you run to your marketing department and say “let’s do more social media” or do you hire an external software provider who will sell you a big mean data machine, because that is where things are going these days?
No, what you do is take a deep breath. What you need is not to panic, but to assess where digital transformation really makes sense here and now in your company. You need a vision, a roadmap and an assessment of your current setup, maturity and readiness. You need to gather the stakeholders in one room and get a common understanding of what digital transformation is, and in particular what it means for your business and industry.
It is your responsibility as a leader, and you need a digital status report that guides and creates the framework for the journey ahead – company, employees, products and customers.
Transform XO can guide you on that journey. Read more about the Digital Status Report and how we can help you get a good start.
Author: Grimur Fjeldsted, Chief Digital Officer at TRANSFORM XO