How to lead a digital transformation in your business

Business digital transformation is about more than getting new technological gimmicks for employees. It means changing your company’s culture to use data and technology to make better informed, faster decisions and meet customer needs. A critical element of the process is to adopt a mentality of continual innovation and quality improvement. Business Digital transformation is no longer an alternative but rather a fundamental strategy interwoven into every aspect of an organisation. Therefore, to stay competitive, businesses must realise to contemporise their technology and infrastructure.

Developing a Digital Transformation Strategy

Most companies still focus on cost optimisation of processes they’re using to operate. When you think about digital business transformation and leadership, the digital giant Amazon is one of the significant examples that most organisations try to replicate. However, businesses employ similar or antithetic ideas to their new business models. In many cases, it is not about best practices because best practices are for well-known environments. In some environments, good practices are evident. Directors need to investigate, pilot, and evaluate new markets and operations for more significant investments. They’re making up the practices. To understand the environment, companies need to look at:

• Where are they trying to play?

• What are the required new digital competencies?

• Where do they need to invest?

Even with these in place, old processes may not work with new strategic plans. Therefore, they may need to plan more frequently with a proper digital business transformation strategy in place. For which firms might need to have:

• Longer time horizons

• Change what you’re designing and piloting for

• Find the vital feasibility studies for driving internal operating or business model change.

Original Source: https://rahyconsulting.com/how-to-lead-a-digital-transformation-in-your-business/