Wednesday, September 18, 2019

Master IT to Lead Digital Transformation

IT faces an unprecedented opportunities to refine its reputation, also needs to take more responsibility as a true business partner and build the good credibility and reputation as a change agent. 

Today, the emerging technological trends and overwhelming growth of information make significant impact on how we think, live, and work; disrupt not only the business boundary but also the industrial boundary and geographical boundary. IT matters more not only because it’s pervasive but also because it continues to advance and its nature of the "constructive disruption.” To run a high performance business for the long term, companies must learn how to master information technology, make proactive preparation for dealing with continuous digital disruptions and adapting to the digital new normal with high velocity and fierce competitions.

IT-based forecast allows the business to capture the emerging digital trends and respond to changes promptly: We are living in an information abundant world with rapid changes and unprecedented business complexity today, envisioning and foresight are critical to navigating the organization into the uncharted water or blurred digital territories. In a business scope, there are some of the important bits and bytes of information needed to forecast a new market, an emerging technology trend, or a business growth opportunity. Forward-thinking companies leverage IT to provide the business foresight and customer insight about upcoming opportunities or risks, understand what customers want even before they know themselves. Some trends are more significant than others in their impact on business growth. Digital leaders today have to keep evolving and gaining fresh views, leverage information for discovering unexpected connections between the business and its rich environment, and shape the future together. The goal of the business foresight and forecast is to predict what will happen and take a step further - what shall you do upon it. It’s a scientific management discipline of business orientation. IT-led forecast precision helps the company respond to changes promptly and prepare the journey for digital transformation confidently.

IT-driven products/services/business model innovation development & management to shape unique business competency: Innovation often has a lot to do with external circumstances, such as the macroeconomic environment or technology trend. The fast growth of information and the disruptive nature of technology brings abundant opportunities to innovate business across vertical sectors. The highly innovative organizations depend more heavily on its technological knowledge and market capabilities to develop and commercialize innovation. IT can drive all sorts of innovation, proactively pushing ideas on how to leverage technology to catalyze revenue growth, increase business productivity, flexibility, and agility. Thus, IT leaders need to break down the IT thinking box and clarify innovation management goals from outside in business perspectives. IT should go out and talk with varying shareholders, business executives and customers to know their pains and gains and understand their tastes as well as current and future needs, for sparking more innovative ideas and managing a balanced innovation portfolio with products/services/business model innovation development from the business lenses .In fact,  IT is the linchpin to integrate all crucial elements into differentiated innovation competency.

IT-led ecosystem alliance to accelerate digital transformation: There is no doubt we are moving from a static and linear business world to a dynamic, hyper-connected, and interdependent digital era,The enterprise digital platforms enabled by information technology break down functional silos, business silos, geographical silos, and even industrial silos, allowing people across the business ecosystem to share knowledge, brainstorm ideas, overcome common challenges, and co-solve business problems creatively and collaboratively. Collaboration is at its essence, the intellectual harmony between humans. The dynamic digital ecosystem can be perceived through the lenses of sociology, psychology, anthropology, the economics of education, economics, organizational and communication sciences, poetical science, etc. Many companies have never been better positioned to engage in multi-industry collaborations. It is excellent to bring digital technologies to this realm, to urge a sense of connection. Digital organizations are like the switches, and IT is the fabric to connect them all together in the digital ecosystem and enforce ecosystem alliance to accelerate digital transformation.

IT faces an unprecedented opportunities to refine its reputation, also needs to take more responsibility as a true business partner and build the good credibility and reputation as a change agent. Contemporary companies must master IT as a trendsetter of the organization advancement; as an innovation hub to create new ideas and generate business value; and as the catalyst of the digital transformation.


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