Think of digital transformation. What do they do Really to say? What do they do Really Does it apply to you and your organization? Do you know why you do these things and what your organization intends to do? Does your organization need both digital strategies? And Business strategy? Are they different? They do not have to be, if they are properly conceived, to be one.
As long as technology is a business concept, it has been the driving force behind business transformation. Innovative companies have always embraced new technologies and re-created themselves. Those who did not, eventually disappeared or disappeared altogether. Technology has allowed us to change what new business models and companies create and how they create. Each successful company spends millions of dollars and does not get the results they expect.
Today, in the face of the CEO, the tide of technological change is rapidly increasing. They have argued to create “digital strategies” and to “digital” their business models. They are pressured to become digital leaders and explain to stakeholders how their companies are ‘digital’, what this means and how it will lead to new sources of revenue, growth and benefits.
To be successful, instead of starting digital, the best place to start is by developing your company’s overall strategy and focusing on renewed and in-depth focus on the customer and industry value chain. A good strategy first describes:
- Which industry or customer problems are solved, and needs met
- What are the consequences of helping customers grow in their business?
- What do we make easy for our customers to do?
- What value is created and why does anyone pay?
- How do we engage in unique or completely new ways with customers that provide sustainable competitive advantage?
- What skills do we need to deliver?
The answers to these straightforward questions can be surprisingly difficult. But they must be the basis for building a good strategy. This should not be digital at first; Instead, meet customer needs. While any good business strategy involves digital, technology-first thinking can lead to nail-biting. When it gets too much, everything starts to look like nails. Data analytics may seem like part of a good digital strategy, but is it clear what the customer’s problem is and why anyone is willing to pay? Companies have invested millions of dollars in digital strategies and solutions to address customer concerns. When one company develops a digital strategy and solution to simplify certain activities, another company with the in-depth knowledge of the customer process, value chain and desired results demonstrates ways to eliminate the need for these activities. Both have digital strategies, but the second almost always wins.
“He wants to persevere; The solutions are temporary. ”Technologies become obsolete. It never meets the needs of customers and creates value.
Kodak is now becoming an example of over-reliance on celluloid film. They focus on how to beat rival Fuji because they think they are in the film business. However, they did not realize that they were never in the celluloid film business; They were in the business of remembering. How long has it been necessary to save human memories? Forever. During cave days, hieroglyphics left memories on cave walls. This continues with text, illustrations and drawings, films, digital, etc., as long as human beings exist, the desire is the same (saves memory); The solutions have been improved. It takes perseverance, solutions are temporary. Today, companies need more digital code than Kodak celluloid film strategy. Both are wrong. Both are very narrow and short sighted. All companies want a Business Strategy To do sustainable work to meet customer needs rather than competition. Four points. Today, “digital” is certainly a part of that, but it is not an independent concept at all. It leads to the current Kodak myopia, which is accelerating the collapse of so many companies.
To be fair, some organizations are offered to develop a digital strategy by focusing on the customer’s journey and ways to improve or change it. This is usually done when you buy and use the company’s product or service based on the customer’s experience. While this is important, consider the opposite view. Get started with customer business processes. Develop in-depth insights into new values, solutions, and new ways to drive results, even in areas that your company does not host today. Take this further and extend the lens beyond the client’s business process to the value chain and even the ecosystem.
While digital technologies can make it easier for customers to do business with you, a more complete strategy describes how your organization can make it easier for your customers to do business and create value for their customers.
Instead of just looking at the customer’s journey through your company’s processes, look at your journey through them, and create where and how to create value.
Measures to be taken
CEOs who want to develop their organization’s digital strategies should guide people to develop good business strategies. They must work to develop a unified vision of what value they create for customers, why customers are willing to pay, and what they intend to achieve. Here are three steps leaders can take to achieve better results than digital strategy and change efforts.
- Pay attention to the customer, prioritize. Make your strategy a part of your organization’s DNA by developing in-depth and ongoing insights into the customer and industry value chains, not just a one-time research project to further the digital strategy initiative. Request constant attention to the customer and industry value chain. Take time to understand the customer’s perspective, what they are trying to achieve, and why. Develop it as the core of your organization. This gives your organization a chance to identify new opportunities to create value before your competitors do it. A unique competitor will give you an edge over how to create value in ways that can benefit you. Introduce your customers to the conversation. Go beyond customer interviews and focus groups that are outdated and especially limited to B2B organizations. Learn how to have in-depth, quality conversations with customers. Work with them to create and reconsider new ways to solve the problems of their businesses and achieve results.
- Think differently, not just digitally. Test the organization that does things In a different way It’s as important as digitizing things. Spending millions on digital strategies and technologies that do nothing but outdate outdated activities, processes, values, and business models will not lead to long-term business success. Note that it is not enough to think about how to present a value proposition in a different way. Maybe the idea of value should be different! Thinking in a digital way without thinking differently allows companies to keep up with what they are always doing and why they are always doing it. Kodak is an example of not thinking differently about your business and the value you offer. Do thinking In a different way Priority.
- Seek to create good business strategies where digital is ubiquitous. Between business and technology, artificial intelligence can improve a variety of strategies. This is the opposite. Discontinued digital strategies can be removed from business and customers. Business strategies can be developed that do not have enough creative thinking or technology to drive completely new ways of doing business, value creation, and even new business models. It helps to develop a unified strategy that focuses on creating value for customers, focusing on the organization, and setting the tone and value required for digital inclusion.
Digital is a powerful and important way. The end result is a business vision and strategy based on creating superior customer value and differentiating yourself from your competition in a way that is conducive to the growth of your organization.
Written by Dr. William utsis and Philip J. Burns.
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