In today’s fast-paced digital world, customers constantly shuttle across devices, touch-points, channels, and platforms. They are drawn to innovation, action, speed, and experience in this economy of “DIGITAL INNOVATION” demanding real-time satisfaction of their needs and wants. It is time now for businesses to carve out their Digital Identity & emerge as 21st century digital disruptors that provide unforgettable experiences when and where consumers demand them.
Businesses normally Respond to disruptive innovation in 3 ways;
Like OSTRICHES, Like FIGHTERS OR Like PIONEERS.
’Ostriches’ are when the organization tends to dismiss disruption as a short-term trend that will go away, and is not really a threat.
’Fighters’ are when an incumbent acknowledges that the threat is not going to go away, and decides to fight it with the law or regulatory battles.
Like Marriot, BMW
The third and most progressive response is where an incumbent chooses to be a ‘pioneer’ and embraces the change.
The question now arises, what do you need to do, so that your company is not THE NEXT Kodak, or the Encyclopedia of the future?
Let us begin with 5 MANTRAS to create a burning platform for digital innovation, that can act as accelerants or handbrakes on digital disruption
1 The digital mantra begins with a people first attitude
Imagine your business as a boat SETTING A SAIL to a far-flung shore.
Shore is the end goal for the voyage, just as digital business is the end goal for your business.
But before you can even consider sailing the ship, it’s essential to ensure you have a well-made boat that is the right type for your trip. In business, a large part of the voyage’s success will be dependent on the people, an essential part of the business transformation.
Since everything starts with you as an innovation leader, it will be very soon when your boss will ask you “What is your strategy to innovate & transform in the digital space?”
Companies need strong leadership to respond to digital disruption, which often means having the will to change. Your focus should be on the people, not on the technology. It is the digital mindset and competencies, not technical skills, drive the digital edge in performance.
2 DIGITAL IS EVERYones JOB
The 1ST thing people need to understand in your company is that “DIGITAL IS EVERYBODYS JOB” not the job of the CDO. It like More heads more creativity.
Most organizations don’t have enough versatilists to transform to a digital business.
Determine what mix of specialists, versatilists and generalists are needed to transform the business, review internal skill sets to identify internal ideators, inventors, connectors, and creator. Gain a clear understanding of talent gaps and strengths and identify versatilists who can be groomed and grown.
Once you are ready with the right mix, you can head towards making a move to revamp the organizational culture.
3 Organizational surgery is now mandatory
This is because we can just fix little that are wrong, we have to COMPLETELY RETHINK HOW WE DO BUSINESS.
This will mean more empowered people. It will mean much more synchronization of the organizations activities & No more silos
4 Get a digitized platform
Focus attention on innovation and customer intimacy. The best companies are learning how to leverage their platforms so they are constantly raising the bar for their competitors. This is the key to becoming any industry’s Amazon.
5 Focus on solutions, not products
This will mean identifying problems that your customers don’t even know they have. Remember to PURSUE VALUE, NOT DISRUPTION. After all, Uber disrupted the taxi business, not consumer’s needs for easy transportation. It also takes time for general acceptance of digital disruption: Uber was founded in 2009 and took several years to reach broad use.
Succeeding in today’s digital world is a challenge that can’t be solved simply by consuming more and more technology, or, as some fear, replacing humans with technology. Your competitive advantage depends upon the ability of your organisation to change.
The digital earthquake will continue to shake the grounds beneath us, now the question is,
WILL YOU BE ABLE TO CHANGE YOUR ORGANISATION AND STAY FIRM?
OR WILL YOU BE DEVOURED BY THE CHANGE MONSTER?