Saturday, February 9, 2019

The Monthly “Digital Maturity” Book Tuning: The “Digital Transformation” Formulas Feb. 2019

The breadth and depth of digital management include people, process, the organizational structure design, technology update, knowledge transfer, and performance evaluation. 

Digital makes a significant impact on every aspect of the business from people, process to technology, both horizontally and vertically. The digitalization flattens the organizational hierarchy and blurs the functional, organizational and geographical borders in the business ecosystem. It is like the gigantic puzzle with many misplaced pieces, you have to put them all in the right places to discover the real meaning and unleash its full potential. You cannot make a true digital paradigm shift without an in-depth understanding of the digital interconnectivity and embracing the multitude of digital maturity.

     The “Digital Transformation” Formulas

The Digital Transformation Success Formula The organization or company may be in business for many years but has not matured its management disciplines and structural flexibility. The digital transformation is now spreading rapidly to enable organizations of all shapes and sizes to reinvent themselves and make the digital paradigm shift. The purpose of such radical change is to make a significant difference in improving organizational efficiency, effectiveness, responsiveness, performance, and maturity. Forward-looking organizations are reaching the inflection point from doing digital to being digital. Digital transformation represents a break with the past, having a high level of impact and complexity. Can businesses across sectors figure out their success formulas to make a seamless digital transformation?

Design Formula: The Promise and Myth of Design Thinking? The design is a powerful myth which has arisen at the dawn of the digital era in which innovation, options, and people-centricity are the digital themes. Design Thinking is not just about wireframes and visual designs. It has a broader scope and you need to think about the brand, long-term business positioning, and rigorous user understanding. If there is any magic design formula, could that be: Design = Start with the end in mind + Non-linear thinking +Outside-in view + Loosen-up.

The Digital Management Formula The digital paradigm has many dimensions, with hyperconnected nature and many moving pieces. Digital management is a hybrid and holistic discipline with many mixed parts. It consists of the interlocking function of making corporate policies, organizing, planning, controlling, and directing the organization’s resources in order to achieve the objectives of that policy. The breadth and depth of digital management include people (skills and capability), process ((workflow, process effectiveness, and efficiency), the organizational structure design, technology update, knowledge transfer, and performance evaluation. Although there is no such one-size-fits-all digital management formula, still, here are a few important management components to explore and exploit digital to improve business maturity.

The Trust Formula? High performing teams succeed because they are corporate in nature. There are many definitions of trust and what trust entails including role-based trust, vulnerability-based trust, and reciprocity. No blind trust or trust too little. There is no returning to the days when organizations expected and received unconditional loyalty. A company can have all the recognition, celebrations and such it wants, but unless the relationship is a trustworthy one, these activities will be of limited value in increasing engagement and employee performance. Trust is bi-directional. Communicate, delegate, trust and hold accountable. Does trust have its magic formula: Trust = Communication +Transparency + Delegation + Reciprocity + Verification?

The “Magic Formula” to Achieve Digital Cohesion? The very characteristics of digitalization are hyper-connectivity, hyper-complexity, and interdependence; with the exponential growth of information and fast-paced of changes. Digital makes an impact on the speed to run the business, the empathy for their people, the prioritization skills to get important things done, and the orchestration of their capability in high mature digital organizations. Every organization needs to explore their own way to get digital ready. But businesses can also learn from others’ failure, as well as summarize what they experiment, and develop the best and next practice, and improve their ability to consistently execute and make a digital paradigm shift seamlessly.

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