Thursday, November 17, 2022

Initiativesofrealtime

 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.

In the digital era with “VUCA'' characteristics, timing is everything. Dynamic business environment provides abundant opportunities for business growth, and also brings unprecedented risks to fail the business even overnight. 

With rising customer expectations, the need for speed is actually more important than ever. It's important to understand interfaces and interactions associated with complex business ecosystems and engenders new perspectives or actions as part of the process of creating a cross-disciplined understanding in order to build dynamic business competency.

Real-time information analysis: Information is the most invaluable asset besides people in the organization. As digital companies across vertical sectors should transform themselves into the digital business that is based on ‎information. Just-in-time information management is crucial for running a real-time digital organization. Insightful IT can provide real-time information delivery and ensure information fluidity and business holism. Just-in-time information management involves the use of technologies and processes of capturing, refining, sharing, and applying organizational information timely.

Real-time sharing, transparency, active listening, and two-way trust are crucial ingredients to build a strong organization that demonstrates abilities to refine information into business foresight and customer insight for improving organizational responsiveness and intelligence, enabling organizations to see the future clearly, and build competitive business advantage.

Real time decision:
With constant disruptions and fierce competitions, you do not and can’t afford to defer the decision until such time that all facts and information are available. One key effect of digitization is increased unpredictability and a need for a faster response to changes in the industry. The real-time business insight can help business leaders and professionals make effective decisions timely, and this is more imperative when uncertainty, velocity, complexity, and doubts are major hindrances to decision making. The need for speed is actually slowing down decision-making if the organization won't build their capacity for solid information management and implement new methods for working.

The decision is necessary as a result of limited resources in time, knowledge, capital, and people. Because time-to-insight is increasingly becoming critical and often plays an instrumental role in informed decision making. Business ability to explore intangible assets such as information and knowledge has become far more decisive. It’s vital to harness the data’s actionable power as it enters the pipeline. You also have to live with the consequences of making the wrong decisions faster! Therefore, it's essential to both get just the right input and quickly pick the good idea or choice among the rest for solving problems timely.

On demand solutions:
With fierce competition and more selective customers, organizations build dynamic capabilities to reshape products, services, and customer engagement almost real time for gaining competitive advantage. Digital power is the combination of the power of knowledge, the power of information and technology, the power of people, and the power of innovation. In quite many circumstances, leveraging the digital power for making on-time delivery and continuous improvement are much more critical than discovering elegant solutions.

To improve organizational agility and synchronicity, the management should make an objective assessment of their organizational strength and weakness, including assessing on-demand business capability and capacity, to achieve its targeted performance. The arrival of enterprise capacity and capability on-demand enable the business to achieve the desired outcome, with maturity attributes, such as “agility,” “flexibility,” "value," “synchronicity,” and ”measurability."

It's natural to fear the unknown, question the unproven, be skeptical of the latest digital trends, be doubtful of unconventional wisdom, be cautious of alternatives, and be hesitant to take actions. 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.

0 comments:

Post a Comment