Transformation is the new normal! For many this urge to transform comes from a fear of being disrupted by what Salim Ismail calls 'exponential organizations.' Think of Uber, Airbnb, Waze, Netflix, Tesla, Alibaba...
In other words, those are the organizations whose impact is disproportionally large compared to its peers because of the use of new organizational techniques that leverage accelerating technologies.
These are my few takeaways which could inspire legacy companies:
- Make sure you have a MTP (massive transformative purpose) which is not a traditional mission statement, but rather a higher aspirational purpose of your organization.
- While data is indeed the new gold, make sure your organization focus is on extracting insights which solve your business problems.
- Build an organizational culture where people have autonomy to propose new ideas and experiment without fear of failure.
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This weekend I was cleaning up my cupboards and look what I found - TomTom thingies. This made me wonder how is this company doing these days?
After a bit of research I understood that TomTom went through a very impressive digital transformation. They turned from a B2C company selling navigation devices to a B2B data-driven enterprise empowering the future of self-driving cars.
These days TomTom lives and breathes big data by collecting 19 trillion anonymous data points in total! This data is being used to solve mobility issues, manage traffic real-time and empower e-vehicles of the future.
Truly impressive and inspiring digital transformation by TomTom.
It is becoming more and more evident that business professionals need to collaborate better with IT colleagues and vice versa. There is simply no other way to drive successful digital transformations.
So mutual understanding of each other’s work is crucial here. While these days we have quite many online trainings and webinars on technology skills, business understanding for IT professionals is less covered, in my opinion.
When I get asked by technology gurus who want to better understand business, I always recommend this book - “Value Drivers” by Mark C. Scott. Even though it doesn’t read like an easy ‘novel’, it provides a great holistic view how to look at business from end2end perspective.
Any other book recommendations from others?
Digital transformation heat wave is high these days and it doesn’t seem to go away any time soon! But still so many of those digital initiatives start with huge enthusiasm, yet end up with disappointment.
So what can we learn to increase success rates of digital transformations in business organizations? This time I thought to take a look at LEAN thinking and see what inspiration we could take from there.
What are your lessons learnt from driving digital transformation?