Organisations that will be successful in the digital age will master six activities: Know, Define, Evolve, Create, Accelerate and Protect
You’ll need to Know your customers inside and out. Customer centricity will take on a far more challenging meaning. And Defining the right path to success will involve some hard choices and trade-offs. Evolving your organisation requires a repositioning of your existing business whilst Creating and unleashing your growth engines. Accelerating the programme of change – to mitigate the risk of your competitors moving ahead – will be a necessity. And throughout the journey, you’ll need to Protect the value and reputation of your assets in what can be a high risk environment.
- Understand the key value shift dynamics in the digital economy.
- Understand the rapidly-evolving digital customer (needs & desired outcomes).
- Use digital to understand the customer’s decision-making process, consumption and profitability.
- Embrace a total customer insight approach, which includes harnessing social and consumption data.
- Understand how value is created in the digital economy, in your value chain and ecosystem.
- Formulate your vision, business strategy and overall strategy for your success in the digital age.
- Redefine your business model accordingly.
- Quantify the value potential.
- Create a case for change.
- Achieve alignment on the case for change.
- Align business processes and structures to deliver customer needs.
- Respond to changing customer needs throughout the organisation.
- Develop a digitally fit organisation across the organisation, from customer to supporting processes.
- Measure delivery of customer outcomes.
- Develop an ‘innovation inside’ culture.
- Create new proposition elements, propositions, business ideas.
- Incubate and test new propositions in order to minimise operational and brand risk (prototyping, pilots, incubators, etc).
- Create, launch, operate and measure these new units or entities (if that’s the chosen path).
- Develop and execute an integration approach.
- Implement your new business model.
- Implement your new operating model (people, processes, structure, KPIs, systems, etc).
- Consider the tax and legal implications of the changes.
- Acquire and master the required IT capabilities to become a digital enterprise.
- Adopt agile approaches to design, build and integrate enterprise-wide social, mobile and web solutions.
- Define digital protection roles and responsibilities.
- Equip relevant people with the full complement of cyber skills and insights to respond to the full range of digital threats.
- Integrate digital risk protection throughout the organisation.
- Build a 360° situational awareness of the latest trends, present and emerging threats in the digital landscape.
- Understand how to build digital trust in your organisation.
- Protect your organisation’s reputation through establishing the right approach to cyber security.
- Respond quickly and efficiently to cyber, privacy and data breaches.