Tuesday, September 19, 2017

How to Instrument Real Time Digital Organization

To survive the fierce competition and thrive with the long-term business advantage involve more real-time planning, adjustment, and speed.

Digital means the fast pace of changes, overwhelming growth of information, and fierce competition. In the digital dynamic where innovation threatens to tear down legacy systems and practices just as it generates new opportunities, it's natural to fear the unknown, question the unproven, be skeptical of the latest digital trends, and be hesitant to take action. Still, the key differentiator between the digital leaders and laggards is the speed to change and how they respond to the dynamic business environment. The high mature digital organizations are highly conscious about what’s happening in their environment, with the ability to adapt to change timely, grasp opportunities, and prevent risks effectively. Here are three aspects to run a real-time digital organization.

Practice real-time information/knowledge management: Information is the blood of the digital organization, information management capability directly impacts the business effectiveness, performance, and maturity of the organization. Information Management is a structural process of aligning the usage of information through the management discipline (what data you have, in what format and the location and method it is held), ASSURANCE (accessibility, reliability, etc.) and EXPLOITATION (collaboratively enabled and fully support the business objectives ) So, running a real-time digital organization starts with providing real-time information management solutions to conquer dynamic digital management challenge. It means that IT can provide seamless information accessibility and availability, transparency and visibility, and ensure the right people getting the right information to make the right decision at the right time. The digital information management cycle evolves managing data, information, knowledge, insight life cycle smoothly. Knowledge is the power, real-time Knowledge Management involves the use of technologies and processes of capturing, developing, sharing, and effectively using organizational knowledge timely, with the aim of optimizing the value that is generated. It is a multidisciplinary approach to achieving organizational objectives by making the best use of its knowledge.

Run a high-responsive, real-time digital organization: With “VUCA” digital new normal, to survive the fierce competition and thrive with the long-term business advantage involve more planning, adjustment, and speed. Digital transformation is not just about leveraging the latest technologies or design a fancy web portal only. Digitization has triggered a transformation across each of the business areas such as strategic planning, operation, innovation, change management, talent management, and customer relationship management, etc, resulting in benefits as well as transformational challenges. Running a real-time digital organization means high-responsiveness with speed. A high-responsive digital organization should lead the way to lift one foot and shift the organizational structure more into participative models that better support the quantum leap in speed we are experiencing. The speed of digital transformation is also dependent on how fast the business can ride ahead of the change curves. The power of information is to empower the business with real-time insight across the organization in ways never possible before. With these business insights, organizations acquire the ability to reshape products, services, and customer engagement, with the help of digital technologies.

Real-time collaboration: Thanks to the emergent digital technologies, the era of face-to-face, hierarchical management, and top-down communication, something that is reassuring to many traditional managers, is beginning to change. Cross-functional and real-time collaboration becomes the new normal. Collaboration, today, is less about mere information and document sharing and more about brainstorming and leveraging collective intelligence. The increasingly virtual and dispersed nature of organizations and the growing workforce of employees receptive to the emergent technologies are two factors redefining collaboration practices both within the enterprise and with external stakeholders. Real-time collaboration is now all about real-time sharing, transparency, active listening, two-way trust in the wisdom of the team, giving proper credit where it is due and constant experimentation. Real-time collaboration as an important perspective of Change Management is empowered by digital tools and relying on a winning combination of face-to-face and virtual platforms. It involves the creation of interactive multi-channel communication and sharing processes to generate awareness about the new digital reality and accelerate the speed of changes.

Timing is always important, change is inevitable. But the challenge of managing change and adoption is tough, and those firms that can accomplish this feat will have the ability to tackle other challenges, put an emphasis on speed, strategic responsiveness, and structural flexibility, to run a real-time, high performance and always-on digital business.


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