Ad-hoc Projects & Digital Transformation
Digitalization is reinventing business as we know it. To capture the opportunities, focus on initiatives that will drive competitive advantage even if they fall far from a company’s current business model by looking at channels which are different to traditional businesses. But Digitization is more than simply getting online. Simply put it refers to the ability to be efficient, rapid and able to adapt in order to stay ahead of the pack using design and technology as enablers.
Eighty-seven percent of senior business leaders say digitalization is a company priority and 79% of corporate strategists say it is reinventing their business by creating new revenue streams in new ways.
In order to speed business model transformation it is important to think discontinuously and not in the traditional incremental approach. While this may seem potentially costly and risky, by adopting a range of tactics potentially negative effects can be blunted. For example initiatives should be focused on which can help the organization help determine if it can build a competitive advantage thus eliminating initatives that could otherwise be too far-flung to be cost-effective. Another effective tactic is to build processes and programs that help disseminate learning through the company and thereby avoid the potential chaos associated with knowledge sharing across multiple teams responsible for exploring disparate innovation initiatives.
At Cogniata our expert team specializes in digital transformation and change management to help your enterprise transform to the best reincarnation of itself.