Thursday, January 7, 2016

Digital Master New Year Intense Tuning Chap 9: Five Aspects of Digital Maturity

Maturity is about Ripeness, Thoughtfulness, Quality, Balance, and Wisdom.

Digital makes a profound impact from specific functions to business as a whole. the purpose of such radical business transformation is to make significant differences in the overall levels of customer delight and achieve high performing business result for the long term. The shift to digital cuts across sectors, geographies and leadership roles, and it is now spreading rapidly to enable organizations of all shapes and size to reinvent themselves. Here are five perspectives of digital maturity:

Customer Centricity: At the heart of digitalization, it is PEOPLE and how to build an organization which delights customers via digitizing touch points of customer experience and improving overall customer satisfaction. Customer-centric enterprises' vision, strategy, and governance model should enforce the alignment of various silos toward customer-centric products and delivery mechanisms. By understanding customers’ goals, digital organizations could also develop better interaction capabilities to enhance customer experiences.  It requires consistently digging deeper and has a different level of metrics in place to keep a pulse on the inner processes of the business.

Digital Agility: It is a dynamic business capability that enables an organization to respond change in a timely, effective, and sustainable way when changing circumstance requires it. With increasing speed of changes, it is a strategic capability for businesses to sense both opportunities and risks, promptly solve problems and optimize business resources, identify additional capabilities, processes, and technologies that need to manage cost, improve profitability, reduce process cycle times to accelerate speed, improve quality, and ultimately achieve high level digital maturity.

Digital Balance: We live in the hybrid world, many organizations are running in bi-modal speeds, the majority of people work in a workplace between something old and new; with the industrial pace and digital speed; physical locations and remote environment. In order to survive and thrive amid rapid changes, companies must reclaim the right balance of standardization and flexibility; efficiency and innovation; stability and change, competition and collaboration, and management must share the holistic view of a living digital organization that promotes deep understanding of core processes, risks, and transformational opportunities - so digital leaders can approach change confidently and systematically.

Digital Intelligence: Digital smartness is not just about adopting social platforms, building a fancy website, or playing the latest gadgets. It is more about the advanced analytical and synthesizing capability to figure out the “Big Why,” and you should care much about it because it will tell you what will happen tomorrow and you can respond to it in a proactive way. As computing resource has continually evolved,  and data is the lifeblood of businesses, data-based decision making, and analytics need to be promoted as a way of reducing, not eliminating or explaining uncertainty in both the strategic level and tactical daily base, in order to build a highly intelligent digital organization.

Digital Resilience: Business resilience is the business capability to make organization more risk intelligent, not just controlling, but managing it effectively. Because businesses are faced with more opportunities and risks in the digital era, being resilience is about failing fast, failing cheaper, and failing forward, also recovering more promptly. High-mature digital organizations can identify ways of realizing the end-to-end monitoring of key performance indicators, develop more effective GRC principles, processes, and the best/next practices of improving business transparency, resilience, and agility.

Digitalization implies the full-scale changes in the way business is conducted so that it’s a multi-dimensional planning and orchestration. You have to transform the company’s underlying functions, processes and build a unique set of digital capabilities & competencies in order to adjust to the digital speed. Digital Maturity matters, because digital transformation is not just a one-time project or a stand-alone initiative, it requires a vision for 'WHY,' and a solid strategy for WHAT and HOW you want to transform radically; from doing digital to being digital; from being digitally disrupted to be a digital disruptor, and ultimately grow as a fearless Digital Master.

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