Digital – is your business a disruptor or disrupted? What does it all mean, and how can Digital help?
We break it down from the Digital Forces, Digital Strategy, Digital Foundation, Digital Optimization to Digital Transformation for you here.
Technology hype aside, value is created when the Digital Forces are leveraged, connecting interested parties and things more efficiently or in new ways. Digital changes and transforms in ways that benefit consumers, employees, suppliers, and businesses alike.
The Digital Forces are pervasive:
The Digital Forces, as shown in Figure 1, interconnect with one another in countless ways to deliver and create these new value propositions.
Unless starting up as a Digital business, like Uber or Google, companies must evolve towards a Digital Enterprise that uses technology for competitive advantage. How? When Digital becomes integral to your overall business strategy and incorporated as part of the business model. Your business is not static, nor is Digital. Therefore, consider Digital to be a journey, not a destination. Strategic priorities and commitments of both human & financial capital must align throughout the Digital Journey.
So whether you want to optimize or transform your business, your Digital Journey begins with a modern, flexible foundation. Your Digital Foundation entails new operating processes, tightly integrated applications, data models, and modern technology and security infrastructure for employees, partners, and customers. Capability begins here.
With the foundation in place, Digital Optimization is attainable. Think marketing automation, e-commerce,
operations automation, integrated supply chains, and tightly integrated front and back-office operations, to name a few. Efficiency and margin improvement happen here.
For many, achieving Optimization is the Digital Strategy. Others take the next step, Digital Transformation. Be it new products, services, or customer experiences. The potential is attainable, and the possibilities are now endless.
Like your product and services, your evolution to a digital enterprise should be unique to your business.
Technical advances unabated, Digital's potential to transform society, markets, and business will continue to be profound. Digital's impact is rapid and everchanging, with value propositions constantly shifting and evolving. Yesterday's business innovation is today's table stakes. New opportunities arise, competition increases, and new entrants emerge. Digital is a modern business reality and demanding in both need and effort.
Looking ahead, Digital must be a centerpiece of your product, services, operations, and customer strategies to compete and win in today's economy and markets.
Why? Because history teaches us that if it can be digitized, optimized, and transformed, it will be.
Disruptor or disrupted, what is your Digital strategy?
To learn more, we invite you to visit us on the web @ Turning Point Consulting.com
Dave Brady, President and CEO