There is no large corporation on the planet which does not have digital transformation as one of the top three strategic priorities, and many have already deep-dived into it without necessarily understanding the meaning of success. Digital transformation is highly strategic, and many times existential due to the simple fact that technology changed everyone’s life forever and kept on doing that. A change that gave birth to a new breed of companies with technological DNA enabling them to create a superior substitute to the many services and products catered by the “old” world companies. Furthermore, these “new” companies catch up on customers’ changing preferences and adapt very efficiently. The agility of the new world puts a shining spotlight on the weaknesses and clumsiness of the incumbents; “Old” companies built with human processes as core DNA and far from even becoming a decent player in the new game. The obsoleteness of the incumbents is not apparent to the naked eye at first as large piles of cash are used to set up a theater play for posing as a new world company though the clock to their disappearance is not impressed by the show and continues ticking. Again, you see a huge investment and brainpower spent on “transforming” these companies, and I want to set some frame of thinking which can be useful to understand what does it mean to have a successful transformation.
Digital Transformation Is Hard and Existential
Digital Transformation Is Hard and…
Digital Transformation Is Hard and Existential
There is no large corporation on the planet which does not have digital transformation as one of the top three strategic priorities, and many have already deep-dived into it without necessarily understanding the meaning of success. Digital transformation is highly strategic, and many times existential due to the simple fact that technology changed everyone’s life forever and kept on doing that. A change that gave birth to a new breed of companies with technological DNA enabling them to create a superior substitute to the many services and products catered by the “old” world companies. Furthermore, these “new” companies catch up on customers’ changing preferences and adapt very efficiently. The agility of the new world puts a shining spotlight on the weaknesses and clumsiness of the incumbents; “Old” companies built with human processes as core DNA and far from even becoming a decent player in the new game. The obsoleteness of the incumbents is not apparent to the naked eye at first as large piles of cash are used to set up a theater play for posing as a new world company though the clock to their disappearance is not impressed by the show and continues ticking. Again, you see a huge investment and brainpower spent on “transforming” these companies, and I want to set some frame of thinking which can be useful to understand what does it mean to have a successful transformation.