Wednesday, September 20, 2017

Three Aspects to Scale Digital

Digitalization implies the full-scale changes in the way business is conducted so that simply adopting a new digital technology isn’t insufficient.

Organizations’ digitalization is surely a transformation journey, it has to permeate into business vision, strategy, culture, communication, and processes. etc. It represents the next stage of business maturity which will improve how the enterprise works and interacts with its ecosystem. During the journey, there are many accumulated steps from doing digital to going digital to being digital. Here are three aspects to scale digitization and make a leap of digital transformation.  

Scale digital ecosystem: Digitalization is about hyperconnectivity and interdependence, always-on and information savvy. The digital ecosystem expands when the digital business territories blur and the business communities broaden their scope and consume all sorts of resources. The 'reach and range' flexibility that now exists removes barriers that have existed in the past. If businesses can recognize the barriers to reach the next level of high performance, it can empower employees to apply technologies to perform their work in a way that benefits the enterprise. Nowadays, organizations can easily invite their business partners or customers to participate in strategic conversations and provide invaluable feedback on how to run a high-effective digital organization. With the advance of the digital technologies and fast growing information, organizations can build integrated business platforms, capture real-time business insight, and integrate organizational processes into differentiated business competency seamlessly, to shape products, services, and customer engagement dynamically. It's about creating a structure that continually delivers what the business needs and takes further steps to maximize business potential. The most successful organizations have a very clear vision and understanding of why they exist and the value they bring to customers and the very reason for digital transformation. So, they not only survive the fierce competition but thrive in the expanded digital ecosystem. For those lagging organizations, the ecosystems have evolved without much attention or planning.  The real challenge is to understand where and how you can and should improve to get the biggest effect and scale up across the digital ecosystem effortlessly.

Scale digital innovation: Innovation is about transforming the novel ideas to achieve its business value. It’s about figuring out the new way to do things. In the digital age, innovation is not “nice to have,” but must have business competency. With “VUCA” business new normal, the pervasive digitization requires digital professionals to rethink how things are done in organizations, and brainstorm better ways to do things. Every organization needs to develop tailored innovation practices via leveraging effective tools or methodologies and use them wisely with the expertise to really add value or drive innovation. More and more firms are learning and implementing best practices for improving the success rate of innovation. The highly innovative organization can expand and amplify its influence with the ability to co-create and scale innovation practices in a digital ecosystem. These innovation business champions treat customers, channel partners, suppliers, and industry ecosystem participants as active agents who have permission to combine the modular capabilities exposed in a platform to create new experiences and expand its impact with faster speed. Hence, the innovation best practices are not for making static or rigid processes, but for setting the principles and standards to achieve innovation management excellence.

Scale Information Management: With fast-paced changes, IT is no longer just the tangible hardware boxes which are heading into the commodity, it must shift from an isolated function to important or even significant business partner; from functioning to firm to delight. The pervasive digitization requires both business and technology professionals to rethink how things are done in organizations. IT organizations have to step out of the traditional technology box, to understand the business and customers better via a longer time frame and different angles. IT has to spend more time and resources on strategic management and innovation, spotting the opportunities to increase revenues. At today’s information-driven business dynamic, there’s no shortage of problems to tackle. It's about to be able to get all the way to the task, to see it from all interests. CIOs need to be bold and innovative, and take IT to the next level of the business maturity, for increasing the significance of the digital IT. Scaling the power of information is about creating a structure that continually delivers what the business needs and takes further steps to maximize business potential. To scale IT influence, it is important for IT to look for providing business solutions which will directly benefit the external end customers and improve the competitive business advantage, and in turn, brings in increased revenue. The significance of IT is about having a purpose such as staying ahead of the competition and become the business differentiator.

Digitalization implies the full-scale changes in the way business is conducted so that simply adopting a new digital technology isn’t insufficient. You have to scale up and dig underneath. To effectively respond to the digital dynamics, companies must begin thinking about ways with strategic planning to broaden their ecosystems and revenue streams while becoming more responsive and scalable. It also needs to transform the underlying business functions and structures to ensure the business as a whole running with digital speed.


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