5 Market Drivers Digital Transformation Must Address
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Building a successful digital strategy and transformation program requires more than just bringing new technology on board. It requires establishing your company's ability to understand, track and address the forces shaping the digital future. This presentation helps you bring those into the discussions that shape your digital transformation strategy. It includes Digital technologies, Digital ecosystems, Digital Innovation and culture, Visionary customers, and Industry value chain transformation. The presentation also includes a link to free 50 + question management discussion guide from our Digital Leadership Program "Competing for the Digital Future".
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5 Market Drivers Digital Transformation Must Address
- 1. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program 5 Market Drivers Digital Transforma4on Must Address Compe4ng for the Digital Future | Leadership Program
- 2. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program Understanding Digital Transforma4on’s Driving Forces Is Cri4cal Without addressing those it is impossible to sustain a viable posi&on in the market 1. Digital technology 2. Digital ecosystems 3. Digital Innova4on and culture 4. Visionary customers 5. Industry value chain transforma4on
- 3. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program 1. Transforma4ve Digital Technologies Powerful individual change agents 3
- 4. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program Addi4onal Resources Click below for free slide decks, blogs and videos from our Digital Leadership Program 4 Online training, materials, and tools based on a powerful strategic framework drama&cally reduce the &me you need to organize, present and get buy in for your program Free 50+ ques&on discussion guide excerpted from our leadership program
- 5. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program 1. Digital Technologies This is the driver most organiza&ons focus on • Primary digital technologies – Big data, social media, cloud-‐based technology, mobile applica4ons, advanced data and analy4cs, and intelligent products and devices and the Internet of Things are all powerful change agents in their own right • Technology drivers – Increasing pervasiveness, performance, intelligence, ease of use, and affordability – They are also becoming far more easily integrated and connected 5
- 6. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program 2. Digital Ecosystems Mul&ply the impact of technologies and compe&tors. How will they impact you? 6 Customer’s Your Industry’s Emergent / Adjacent Customer’s Customer
- 7. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program 2. Digital ecosystems Intelligently connected systems of devices, services, and innova&ve communi&es • When digital devices, services, and data are intelligently connected and become interoperable they form digital ecosystems – They enable things like electronic banking and payments, instant exchange of photos over social media, and the use of geo tagged imagery from satellites or drones to inspect disaster areas. • Ecosystems drama&cally mul&ply the transforma&ve power of individual technologies – They significantly reduce the cost and the 4me it takes to bring new disrup4ve capabili4es and business models to market by simply plugging a new capability into an already robust and low cost infrastructure – They can bridge or bring new value or efficiencies to jobs, processes, and industry value chains • The internet is the major enabling plaUorm behind the growth of ecosystems – It enables new technology, applica4ons, data, processes, and applica4ons to be coupled together faster and more effec4vely than any other 4me in history – It also brings together a powerful global community of highly innova4ve people and resources 7
- 8. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program 3. Digital Innova4on and Culture The internet is the world’s largest research and innova&on accelerator • The internet has become the world’s largest research and innova&on accelerator. And, its open to anyone: – Mul4 billion corpora4ons – educa4onal ins4tu4ons and governments – high school kids • Anyone can access its capabili&es and join the flow of ideas – Online – In person -‐ via a local meetup group or innova4on accelerators • These communi&es and cultures are shaping next genera&on technology and business models – Composed of leading influencers, technologists, large and small vendors, and venture capitalists, – And the most visionary customers on the planet – The smartest person in these communi4es, isn’t a person, its’ the community • Par&cipa&on is required – The only way to preemp4vely understand and prepare for the next wave of innova4on these are shaping is to become an ac4ve par4cipant 8
- 9. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program 4. Visionary Customers Catalysts that are proac&vely shaping the digital future 9
- 10. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program 4. Visionary Customers Visionary Customers are deeply engaged in visioning and building the digital future • Visionary customers – Deeply engaged in understanding emerging technologies and the ecosystems – Ac4vely crea4ng breakthrough products and services – Improving process effec4veness and market performance – Implemen4ng more effec4ve, higher-‐value business models – Seeking to astound, delight, and amaze their customers • They are catalysts for the ecosystems of technology, people and organiza&ons that are shaping the future – If you aren’t already engaged with them, you need to be – They are instrumental in shaping opportuni4es, requirements and threats and industry value chains • Insight to these customers has huge strategic value – Help you set strategic and transforma4onal priori4es – Understand what will create future value and growth as other customers follow their lead 10
- 11. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program 5. Industry Value Chain Transforma4on Emerging technology and ecosystems transform industry value chains 11 new Industry Value Chains How Jobs Are Done
- 12. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program 5. Industry Value Chain Transforma4on Industry value chains are re-‐engineered as the market re-‐defines what’s valuable • Vision, technology, business models, and visionary customer adop&on reshape industry value chains – Redefine enabling products, services and business models and the companies that provide them – Reshape what jobs need to be done, how those are done, the processes those are a part of – Reshape what the market defines as valuable – Those reshape the industry value chains that you and your customers are a part of • Your digital transforma&on strategy has to include – The ability to proac4vely understand, track and an4cipate the impact and changes to value chains – Development of con4nually updated scenarios about how these market drivers will impact industry value chains and the opportuni4es those scenarios create to deliver new transforma4onal value 12
- 13. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program Developing a Winning Digital Transforma4on Strategy Winning strategies proac&vely address deeper market drivers • Develop a proac&ve digital transforma&on strategy – Give your company the ability to proac4vely understand and address market drivers • Without these your company all it can do is react – That puts you behind the compe44ve curve • Building this capability within your company makes your work and your transforma&on program far more valuable – An4cipate, understand and proac4vely address the pace of digital innova4on and the change it drives 13
- 14. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program Addi4onal Resources Click below for free slide decks, blogs and videos from our Digital Leadership Program 14 Online training, materials, and tools based on a powerful strategic framework drama&cally reduce the &me you need to organize, present and get buy in for your program Free 50+ ques&on discussion guide excerpted from our leadership program
- 15. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program mike@spicecatalyst.com Mike Connor Principal, Spice Catalyst Director, Customer Value Crea&on Interna&onal (CVCI) Author: • Crea4ng Insanely Great Customers • Compe4ng for the Digital Future A Leadership Program in Digital Strategy and Transforma4on 15
- 16. Compe&ng for The Digital Future Kick Start Your Digital Strategy and Transforma&on Program Let’s get this done! Your Agile Business Accelera&on Agency Thank You 16