Saturday, January 14, 2017

Three Growth Forces to Accelerate Digital Business Performance

“Run, grow, and transformation,” digital organizations have to keep both the balance cycle and growth cycle well.

The digital organization is the dynamic business ecosystem with the two most basic systemic structures which are the balancing cycle and the growth cycle, and their emergent characteristics just happen to be balance and growth. Change is the new normal, and change can be an opportunity, but at the end of the day, it needs to be all about moving the business numbers upwards. Although we have to change with the "tide," companies that lead in digital transformation, are much more likely to have a top executive team who understands digital opportunities and threats and who can enforce the business growth forces for the strategy execution and accelerate digital business performance.

Capability-based growth: The emergence of potential opportunities for exploiting digitization is likely to follow a nonlinear pattern as the pervasiveness of an organization's digitization journey increases. How these ideas are recognized, filtered and dealt with will become a crucial factor in an organization's success in producing digitized products and services, and more importantly, enhancing its competitive business capabilities. And these coherent and integral business capabilities will further lead the business growth and speed up the next innovation lifecycle for achieving high-level performance result. Business capabilities are built via key business elements such as people, process, and technologies. Business capabilities are often the collective and amplified capabilities of its people; business processes underpin organizational capabilities.  Hence, organizations need to take those into consideration when establishing strategic goals and building differentiated business capabilities to manage their digital transformation. Looking deeply into the future can have a profound effect on where you go, and how you get there.

Information-driven growth: The success in executing a strategy also depends on the kind of inputs, data, information, management assumptions that go into strategy formulation. Information does not live alone but permeates to everywhere in the businesses nowadays. Thus, the value of information is not isolated. information potential directly impacts the business's potential of the organization. Potential value all depends on how the information will be used again in the future and this is often exceptionally uncertain. Therefore, it is important for the organization to identify how information is associated with the valued tangibles of businesses; products and resources; like information flows in processes, for example, then its own value will become readily apparent and quantifiable by association with the force of business growth, allowing creativity and innovation to flow, enabling business capabilities, and how information can empower the business to leapfrog the digital transformation.

Customer-led growth: One of the key characteristics of digital organizations is customer-centricity. Customer-led business growth can truly create the momentum for catalyzing business innovation and bringing high-performance business result. When companies take the outside-in customer lenses and adopt customer-centric strategies, understand the needs of customers, and appreciate customers’ feedback, customers become the primary driver of “why” and “what” work should be done, “how” to do it better, and “who” should do it, where to digitize the touch point of the customer experience, and which alternative solutions/services to provide customers the big WOW or delight. And customer-centricity becomes the nature of the priorities in the organization. What customers and client generally want is a no-nonsense, fit-for-purpose, and hassle-free solution to their needs. Fit-for-purpose," is equally true for human relationships as for solutions to other needs, as the goal for the business’s surviving and thriving. Hence, you have to put the customer at the heart of everything that you do as a business - great customer experience management is a differentiator for companies to catalyze the business growth and improve long-term business perspective. Improvement and achieving the right balance in any truly customer-centric organization requires all team members to believe that things can be improved, and the high digital performance can be achieved.

“Run, grow, and transformation,” digital organizations have to keep both the balance cycle and growth cycle well. Forward-looking organizations have visionary leadership, highly trustful, highly collaborative, and highly motivated workforce, refined the culture of learning and innovation, leverage the power of information and knowledge, well-tuned business processes, technologies, and capabilities, with the goal to run a customer-centric organization to achieve the high-performance result.


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