Digitally transforming an organization and capturing opportunities is often challenging as it requires C-suite executives and entrepreneurs to identify possibilities and drive change concurrently in three areas where digital technologies are can make significant differences and change the face of organizations.
1. Intelligence – Seeing digital data as a source of insight and using this data in knowledge-creation processes to create competitive advantages.
2. Integration – Leveraging digital channels to transform organizational processes and create agility.
3. Impact – Rethinking how digital dynamics can improve a company’s value proposition.
To successfully lead the digital transformation across these three building blocks, leaders need to measure their progress and the extent through which their organization has embraced change, from an initiation phase (focusing on the discovery of new opportunities) to a ritualization phase (looking at ways to interact with the digital ecosystem) and to a final internalization phase (prioritizing digital solutions). Only then can they assess where they lag behind and where they are on par or ahead, and establish a roadmap for moving the digital transformation forward.
Author: David Dubois
Source: INSEAD Knowledge
Subjects: IT / Technology / E-Business, Strategy