Digitalization as a strategic Challenge

Tuesday, 23. May 2017

Digitalization as a strategic Challenge:
Are You ready for the Future?

By now, even the most conservative CEO should have realized: Digitalization cannot be averted, ignored or put aside with a smile. No reason to panic, however: Meeting the challenge today means benefitting from optimized work flows, product innovations and new markets tomorrow. Is your business ready for digital transformation? Find out by answering four simple questions!

Do we understand the fundamental changes that digitalization is connected with?

Digitale TransformationThe impact of digital transformation on all branches is constantly on the rise – what will happen soon is that complete business models will fall prey to their own disruptive character. In short: The basic rules of competition will change. Businesses need to deal with the opportunities and risks of digitalization now in order to avoid drawing the short straw: Which extensions of business models are going to pay off, which are less promising? How is a digital business strategy guaranteeing quick first successes established? Afterwards, you can use those successes as catalysts for further visionary changes.

How can we identify and implement the product solutions of the future?

Pruduktlösungen der ZukunftKnowing more than others can be decisive when it comes to leaving competitors behind: A profound data base on how markets, competitors and trends evolve is essential for the development of a successful digitalization strategy. Our recommendation: Strategic Intelligence Software like SOLYP3 will help to collect relevant information from all over your business for your strategic positioning. Being able to rely on those strategic data, decision makers can identify promising products and projects more easily. This is not about predicting the future most accurately. It is about setting the right course for potential business successes: No one can tell today how artificial intelligence will develop in the next 20 years. However, dealing with topics like digital assistance systems, individual consumer information or chat bots in customer care will certainly be a plus.

Have we got started adjusting our corporate culture to the digital age?

KulturwandelTechnological innovation is very important, and so is giving the working models of the future a chance – because technological change also means social change. The corporate cultures of many emerged in the analogue world. This is an inhibition threshold to the process of digitalization: Hierarchies and impermeable silo-like structures block the flow of information and make it impossible to look onto the business holistically. That’s why change takes a lot of time and can also cause difficulties. A new, open corporate culture can work wonders here: Trends like connected working in inter-departmental teams lead to employees thinking out of the box, questioning the status-quo and finding new solutions. This is how innovation comes naturally. Agile management constantly adapting to recent developments is therefore vital.

Are we using the full potential of digitalization – without rushing headlong into action?

Blinder AktionismusCloud solutions, big data, smart home, connected driving or sharing economy – all these technologies and trends have one thing in common: They show us that we need to understand digital transformation as an opportunity opening up new spheres of activity. Digitalization brings about totally new customers’ needs and today’s innovations will become tomorrow’s competitive advantages – one more reason to choose them with strategic precision. For doing something harum-scarum is not a good advice when it comes to digitalization: Those who have a far-sighted and structured approach towards digital transformation will be more successful than those who rush headlong into digitalization. Make little steps and stay agile – reach your targets in the future the targeted way.