Business leaders today face challenges far beyond what their predecessors could have imagined. Industry-wide shifts happen faster than ever, with technology lowering barriers to entry and new competitors being created every day. As such, you need to continuously balance the risks of leading against the risks of following, and falling behind.
But there are some absolutes. Execution remains critically important; human capital, rather than tech, is still the main driver of success.
If you’ve read some of my other posts on the topic, you’ll know I firmly believe that digital change (i.e. self-disruption) is really about organizational change. It’s about leading a group of people to understand the reason for the change, adopt is as their own, and cooperate to make it happen.
Of course, it doesn’t help that “digital transformation” means different things to different people. The terminology itself can be misleading. That said, there are some fascinating perspectives out there, worthy of the attention of anyone seeking to enact change from within their organization. In this post, I’ve compiled a handful of insightful articles on the topic of digital transformation.
Digital Transformation: 5 Essential Elements of Superb Execution
McKinsey performed a statistical analysis on the importance of strong execution during the digital era. If you would like to separate your company from the rest and be among the 50% of businesses that survive digital disruption, this article offers five tips to help you with execution.
10 Barriers to Digital Transformation From an HR Perspective
Today, many companies struggle to keep up with technological innovation. However, in this article, author Barry Lawrence takes a closer look at what surveyed CEOs feel are the top 10 barriers faced by businesses during digital transformation and he believes that HR can help with every one of them.
‘Digital Transformation’ Is a Misnomer
Gerald C Kane has been studying digital transformation and has come to the conclusion that it’s actually not about technology, but about how technology is changing business conditions. This, in turn has changed customer, partner and employee expectations. Fascinating read!
Your Fast Follower Strategy is Riskier Than You Realize
Some businesses believe that when it comes to innovation, the fast follower method is best – but it must be executed correctly. JP Nicols has written a great article which outlines the steps required to achieve success with this approach:
- having a solid strategy in place,
- understanding whether innovation comes with exaggerated expectations (hype) or if it has value that will stay with consumers,
- knowing how much risk company leaders are willing to take, and their methods for establishing next steps.
A CEO’s Guide to Leading Digital Transformation
The role of corporate leaders has become increasingly exaggerated in the wake of digital transformation. In order to succeed, CEOs must be able to keep up with innovation, disruption and rapid change. Authors at the Boston Consulting Group have provided five rules for CEOs to follow in dealing with digital transformation.