Wednesday, July 6, 2016

The Monthly Sum Up: How to Build Digital Ready Enterprise Capabilities July, 2016

Every surviving business has certain capabilities; however, only very few high-performing businesses have a high mature level of cohesive capabilities

A business capability is the set of abilities needed by an organization to do things effectively to achieve desired outcomes, measurable benefits and fulfill business demand consistently. Business capability, in general, is defined as the ability to perform or achieve certain actions or outcomes through a set of controllable and measurable faculties, features, functions, processes, or services. How can the business build a set of digital ready enterprise capabilities to implement the strategy more seamlessly?

How to Determine if a Capability is a Core Capability? Business Capabilities are the abilities to produce specific goods or services for the market, they are essentially the learning processes that are embodied in the knowledge capital of a business organization. And core capabilities are integrated a set of capabilities contribute directly to the competitive advantage of the business.

How Coherent are your IT Enabled Digital Capabilities? IT plays a pivotal role in leading digital transformation at many forward-thinking organizations today, and IT strategy is an integral component of the corporate level digital strategy. A digital strategy has a purpose of driving customer engagement and experience as a cross-functional responsibility. Thus, the digital strategy needs to look outward with outside-in customer perspective; but the issue is that most IT departments look inward. So how effective does IT enable the business growth, and how coherent are your IT enabled digital capabilities?

Can or Should a Digital Business or Professional have multiple Core Competencies? A Core Competency is a deep proficiency that enables a company to deliver unique value to customers. Is it possible to have multiple core competencies? Are business visions about possessing a competency, or many competencies, or is it about envisioning a positive future situation and embarking on a mission to produce it? Competencies usually emerge from a blend of people, processes and culture, which evolves into a mindset - and can you really acquire that simply by adding people with relevant skill sets. Should you stick to your existing competencies for selecting any new venture, or should you actively go out and acquire those, if you like the nature of opportunity and there is an organizational passion for pursuing?

How to Assess Business Capability Maturity: Organization’s capabilities are business competency to execute its strategy and deliver value to its customers. Every surviving business has certain capabilities; however, only very few high-performing businesses have a high mature level of capabilities, for not only running the business today but also competing for the future. Hence, from the management perspective, it’s important to assess business capability maturity accordingly, as say going "if you want to understand something, you have to be able to measure it."But what are some attributes and what are the measurement scales?

A Capability View of Enterprise A capability is an ability that an organization, person, or system possesses. Capabilities are typically expressed in general and high-level terms and typically require a combination of organization, people, processes, and technology to achieve.

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