Digital transformation should not be undertaken lightly because it must align diverse and divergent stakeholders' interests toward a common goal, and practice many “DOs,” and “Don’ts” fluently.
Digital transformation represents a break from the past, with a high level of impact and complexity. It needs to be undertaken as the means of getting to a differentiated capability to accomplish a defined goal via modernization, integration, automation, optimization, and innovation, etc.
To keep digital fit, the digital transformation efforts need to be undertaken as a means of getting to develop differentiated business competency to accomplish defined change management goals.
Digital transformation should not be undertaken lightly because it must align diverse and divergent stakeholders' interests toward a common goal, and practice many “DOs,” and “Don’ts” fluently.
BoDs do not manage risks but oversee risk and ensure that management has put in place an effective risk-management process, and the directors assess whether risks are undertaken and managed consistently with the established risk appetite by asking tough questions.
The missing but necessary capability must be created or purchased, or the strategy must be revised. It’s also important to strengthen the strategic alignment of projects and programs to prevent business initiatives being undertaken that do not support the enterprise strategy and prioritizing the top programs that can make a significant impact on strategy execution.
To oversee risks, the top seasoned board of directors with decades of experiences should share the valuable lessons in the past from time to time, to ensure that management has put in place an effective risk-management process, ensuring that business risks are identified, minimized, and controlled effectively, and the directors assess whether risks are undertaken and managed consistently with the established risk appetite.
Because digital transformation efforts need to be undertaken as the means of getting to a set of the well-defined and differentiated capabilities to build a people-centric organization.
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