To survive the fierce competition and thrive with the long-term business advantage involve planning, adjustment, and speed.
Digital is fluid, digital is complex. It becomes complex if things do interact, particularly in the case of "non-linear" interaction and interdependent relationship. As the matter of fact, the effects of an increasingly digitalized world are now reaching into every corner of businesses and every aspect of organizations. But more specifically, what does the pervasive digitalization mean, and how to well prepare the new normal and get digital ready?
The pervasive digitalization means “reduced time to information and knowledge”: Digital means overwhelming growth of information. Information does not live alone but permeates to everywhere in the businesses. The power of information is to empower the business with real-time insight across the organization in ways never possible before. Information potential directly impacts the business's potential of the organization. Running a real-time digital organization starts by providing real-time information management solutions to conquer the dynamic digital management challenge. Pervasive digitalization means “reduced time to information and knowledge.” To speed up and accelerate digitalization, organizations need to capture the real-time data-based business insight and knowledge. It involves the application of technologies and processes of capturing, developing, sharing, and using knowledge timely, with the aim of optimizing the business value that is generated. We are living in a complex world where inventions, developments, and conflicts are continuously changing and that makes it impossible to have a complete knowledge and understanding of many issues facing the business today In the digital era, what the business needs is not just the faster speed, but a hyper-connected ecosystem with information synchronization and relationship harmony. Knowledge is no doubt important, but more than that is complete awareness of what is happening in the context. Once you figure that out, you are able to classify the business elements and know their linkage, analyze all critical and cross-functional processes, connect divergent factors in the business ecosystem for achieving strategic responsiveness of the business.
The pervasive digitalization means “speed up to change”: Change is the new normal with faster pace and velocity. Today’s digital dynamic pushes companies to get out of their comfort zone, leverages their various environments, or ecosystems, to chase growth opportunities and accelerate business performance. The pervasive digitalization means “speed up to change.” The more complex the change is, the more complex the solution would be. Thus, how successful organizations can handle change and continuous digital disruptions depends on how fast and capable they can adapt to the business dynamic. Change becomes the differentiated business competency. Businesses with high changeability are observed to have a predominant change culture that is inherent in their management approach, resources, processes, and tools. For the organizations getting stuck in the middle of change, sometimes, change itself becomes the very goal as change initiatives are not complete, or the value of change is not evaluated thoroughly to ensure that the work is well done or additional effort is required. The pervasive digitalization means change is the norm and happens the whole time thereby delivering faster and increasing market share. Organizations can reach the inflection point for change when they can synchronize and conduct change with the scale of interrelations and interactions to make the leap of digital transformation.
Don’t be overwhelmed by the sea of information and pervasive digitalization. To survive the fierce competition and thrive with the long-term business advantage involve planning, adjustment, and speed. Digital transformation is worth its weight because of its high impact on unlocking business performance and unleashing the potential for driving the business’s long-term prosperity.
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