How can you start your digital transformation?

June 16th, 2014

Enterprise Irregulars describes in a recent article five steps:

  • Translate analog businesses into digital businesses. The effort will require more than adopting the five pillars of digital convergence, but a rethink of the core business model. The new model moves from promoting products and services to keeping promises and meeting outcomes.
  • Manage a world of trust and radical transparency. Success will require more than fluffy statements about open leadership. The power belongs in building relationships in the personal and corporate networks. Leaders must expect business to move from real time to right time. Context by location, time, role, relationship, sentiment and even intent will provide a differentiator.
  • Develop an authentic business brand. An organization must start by asking itself what the company would be like if it were a person. Customers, employees, partners and suppliers expect an organization to live up to a brand promise. That promise requires authenticity in a digital world.
  • Disrupt business models with digital technologies. Keep in mind, technologies will come and go. Disruptive technologies on their own will not address regulatory requirements, optimize costs, drive revenue, differentiate markets or support the brand. The goal is to identify the technologies that will disrupt the business model to allow for transformational change.
  • Work with five generations of digital proficiency. Focus in on how to enable the different generations for digital proficiency. Keep in mind, digital business brings its own culture for how you work, where you work, when you work, what you work on and why you work. These are the key questions in the shift from a people and cultural perspective.

Read the full article.

The Asian forum for digital insurance provided the following training video.

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