Digitalization is about hyperconnectivity and interdependence, always-on and information savvy.
The business becomes more successful when the corresponding learning curve has a reduced uncertainty to the point where the strategic synergy can be structured by fine tuning or deliberately planning a techno-socio-cultural ecosystem.
Information technology savvy organizations can catalyze innovation and achieve high performance results consistently: Information brings about business ideas, and business ideas generate lots of information. The highly effective corporations need to embed the power of information in its fiber to weave business competencies. Thus, organizations with information consciousness are highly responsive, intelligent, and innovative. An information system is a business-centric system that deals with information management for refining information into fresh knowledge and unique insight, and ensuring the right people getting the right information at the right time for making right decisions to achieve business goals.
Forward-thinking companies across the vertical sectors claim they are in the information management business. Digital organizations are so technology-driven and information-intensive, it’s important to break down silos and overly rigid functional boundaries, and make businesses more people-centric and purpose driven. Information technology needs to work across the business systems. design the dynamic business processes to keep information flow, idea flow, business flow to achieve the state of build fluidity, agility, and innovation.
Reinventing business via rearchitecting and designing a holistic techno-socio-cultural system to increase people centricity: The business system has all different success factors such as people, process, technology, emergence, etc, to achieve certain purposes, it also has its fragility to fail unexpectedly. The organizations that have hit the heights of success in the digital world aren’t those that have determinedly followed the old models and ways of thinking; it’s those that have forged a new path and encourage better ways to solve problems.
Digital transformation is the natural evolution as it needs to engage mindset shifts and culture re-invention. Organizations as a social entity composed of people, people - customers, employees, varying stakeholders need to be the center of the business. Thus, the social and cultural system also needs to be architected and designed to unlock collective potential. This is most challenging when, due to marketplace exigencies, radical culture and social structure changes are required. It is difficult as it needs a holistic effort to shape fitting mindsets and optimize processes that can bridge psychology and sociology; nature and nurture; science and art; mind and heart for orchestrating a high performance business.
Businesses build strategic partnership, make resource alignment, and seek to create differentiated offerings and capture value they could not reach alone collectively, generate new revenue streams while becoming more responsive and agile. The ecosystem expands when the business territories blur and the business communities broaden their scope and consume all sorts of resources; draw together mutually supportive companies from multiple industries to co-solve problems collaboratively.
Digitalization is about hyperconnectivity and interdependence, always-on and information savvy. When jumping into the digital future of “VUCA” new normal, you need to identify core values, differentiated competencies and critical capabilities as well as where the future will be for the business. The most successful organizations have a very clear vision and understanding of why they exist and the value they bring to customers. So, they not only survive the fierce competition today, but thrive in the expanded ecosystem with long term perspective
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