Monday, June 28, 2021

Increasingdigitalconfluency

The whole point of streamlining digital confluency, is to keep iterating, learning, and working on a rhythm of sustained delivery.


Constant change and frequent disruptions are the new normal; running a digital organization today is to think fast and slow; connect the old and new, mix solid and fluid, balance control and autonomy, deal with management paradoxes & challenges to enforce digital confluence. 

Majority of well-established companies today are running at both industrial speed and digital speed, digital leaders tend to restructure if they sense things are becoming dysfunctional, and often with mixed results. They should understand that digital landscape is diverse, dynamic business development is multifaceted; and it’s from within the massive gray area, they need to push the right button to switch from traditional linear management style to nonlinear, dynamic digital management for improving business confluency.

Relevancy: Planning and forecasting become challenging, and planning fallacy is a business reality. As the saying goes,” plan is nothing, and planning is everything.” This is particularly true in the digital era with an increasing rate of change. Most companies may have a strategy on paper, but in all likelihood don't even look at it. It's an even bigger challenge today because companies are still trying to “feel their way” through “VUCA’ reality. If planned in detail as far ahead as the end state, much planning time and effort will be wasted. The dynamic planning process is the continual attention to current changes in the organization and its external environment, how this affects the future of the organization, and keep periodic review of the plan for relevancy and increased clarity. This usually requires a dialogue to answer questions and address its relevance. If the actual planning is spot on, listen to your employees or customers, listen to the market, listen to the competition, be realistic, believe in strategic planning, more to the point is to make sure everybody else believes in the plan too.

The point is to figure out the “right level” of planning. Good planning should be based on quality information about the customers, competition, internal capabilities, and cost. Long-term planning can help the business stay focused, lead to better decisions, and manage risks effectively. After that, organizations also need to have short-term goals that are aligned with operational goals of the business. In these uncertain times, strategic planning should go hand in hand with contingency planning around “what if” scenarios. Business managers are able to visualize and identify and convert uncertainty to risk through the application of quantification methods in order to be able to manage uncertainty as risk. The planning process is never "done" - the planning process is a continuous cycle that's part of the management process itself.

Fluency: Because enterprises today are the organism of a hierarchical assembly of systems working together as a single functional unit, which are connected with the complex digital ecosystems via information flow. It’s important to break down the silo, create a digital savvy environment that encourages the utilization and the flow of data and knowledge, handle information streams for different goals and different time frames and manage a balanced portfolio. At the high maturity level, companies need to embed digital into the very fabric of the business culture, explore interdisciplinary management style to achieve multilateral digital coherence.

Poor information management implies not understanding what raw material they have to play with; silo mentality - lack of ability to collaborate seamlessly across geographical or generational boundaries, or poor measurement -not applying worthwhile evaluation to it to reveal the inherent value. Professionally, being fluent does not mean you only master one language, but multiple; only be skillful in one domain, but interdisciplinarity; only see things from a single dimension but through different lenses. Digital management with digital fluency is fundamentally an iterative cycle to design, build, scale and optimize business competency and achieve the desired effect under specified performance standards and conditions.

Competency: The core business competency is an integrated set of capabilities that directly impacts the business’s survival and thriving, and contributes to the competitive advantage of the business organizational maturity. Competitive necessity focuses on meeting customer expectations and delivering what the business asks for today; while competitive differentiator allows the business to “dream bigger,” and achieve “the art of possible.” It's important to analyze total cost, total value, and total impact of developing a set of unique organizational competency in order to improve the success rate of strategy management. It’s about how to achieve the economies of scale, keep the business highly connected and continually deliver what the business needs and maximize the digital potential of the company.

To truly build the professional competency, assess competencies and use the profiles to identify where the gaps in performance lie, "development, enhancement, and coaching" imply a better mindset, capture both the individual's and the organizational development needs, and set the scene for a process to achieve well-defined goals and reach the next level of the growth cycle. Collaboratively, envisioning, decision, preparation, action, adjustment, maintenance are all the logical steps in building business competency to create new value, position a brand, align people inside an organization or differentiate and position products or services in a diverse market.

Consistency: Consistency remains a favorite mantra for management and facilitates efficiencies in operations and the ability to deliver a shared brand promise across services, sectors, and business boundaries. It is a critical element for delivering quality business products or services and driving cohesive changes, enforces effectiveness, fosters customer satisfaction, improves quality, and unlocks performance. There needs to be a baseline process defined across the organization to allow for consistency of the rating, look for consistency in their teams, in their organization as well as in their ecosystem.

Professional quality is dependent on the consistency of people’s thinking, attitude, and behavior, as consistency harmonizes humanities. Performance management process’s main goal is motivation and retention.The managers performing at the same level should have consistent ratings based on their experience. (a) goals should be clear and attainable. Regular feedback is a must and incentives should be comparable to expectation set. (b) consistency throughout the organization and competitive within the market. So they can make better balance, capture the substance of digital professionalism and trace the root at the heart of business change dynamics.

Resiliency: Resilience is a measure of how well a business system or a process will resist shock, extreme events, and turbulence. It is about a "system" being able to maintain its recognizable essential characteristics. Strategic risks are about uncertainties, inherent variability and the unknown interdependencies among sources of risks. It’s important to build in an objective fault tolerance to allow for a certain amount of distention. A business system gains more and more energy until it crosses the point of system resilience. The level of organizational resilience depends on how the business can manage the gray area effectively in today's “VUCA” environment. The key is to enlist the dissenters to provide input during the process to maintain engagement.

Many refer to resilience as closer to “good entrepreneurship." The amount you learn is closely related to the amount of risk we take, resilience is about a bounce. It’s about regaining one's footing which could be bouncing back, bouncing forward, or restructuring the system to integrate the change in some way that works or grows around obstacles. The trust factor and resilience need to be built into the business culture to ensure good corporate governance, and it is the most sophisticated and swindling factor faced by risk management. Business management with strategic resilience are able to see further and perceive better than others in order to drive seamless digital paradigm shifts.

The high mature digital organizations are highly conscious about what’s happening in their environment, with the ability to adapt to change timely, grasp opportunities, and prevent risks effectively. The whole point of streamlining digital confluency, is to keep iterating, learning, and working on a rhythm of sustained delivery.


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