Digital Transformation Ahead…Ignore At Your Peril

Digital — fad or fate?

However, as we all know there are so many trends labeled as ‘transformational’ in business, that most of the time, the wisest course is simply to ignore them. Just tune them out and focus on the basics: creating a product or service that meets a customer need; ensuring it is available in the right channels at the right price; and finally, communicating the heck out of the value proposition to create demand and drive sales.

From Steam To Digital

Think of digital transformation as the 4th major wave of industrial disruption. First we had steam, which mechanized production, then electric power which created mass production, thirdly information technology, which created the Internet, computerized processes, and gave birth to eCommerce.

Sawhney’s Three Models of Digital Disruption

Work done by Professor Sawhney at UCLA has done a nice job of identifying three simple digital disruption models which i think helps make all this real.

Digital Is Real: Keep Calm But Please Change The Way You Carry On

So what are the implications for you and your organization? First, it makes sense to understand whether your business is susceptible either to the threat of the basic disruptions described above, or more positively, are there growth opportunities you could be looking at? Is what you are selling relevant and priced correctly? Is the competitive environment changing? Could you disrupt your competitors by leveraging digital capabilities to provide new products and services to existing customers, or create new products and services to expand your customer base?

Moving Ahead with Digital Transformation

Whatever the areas you decide to prioritize, don’t let perfect be the enemy of good. As the 19th Century British writer Anthony Trollope once wrote: “A man’s mind will very gradually refuse to make itself up until it is driven and compelled by emergency.” As we all know, any decisions ‘compelled by emergency’ are rarely good ones. Digital time may not be on your side…so get going!

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