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In the New Economy there will increasingly be “pure play” “born digital” companies who challenge the existing traditional or “born physical” companies. This changes the nature of the competitive playing field. The most successful companies will have digital AND physical components working together in a cohesive and synergistic strategy.
The Digitalization of business has a number of key consequences:
In today's environment, leadership and customer connection are absolute requirements, however, there are EIGHT FACTORS that determine maturity and readiness for Digital Growth strategies to be successful.
Knowing and understanding the customers deeply, building relationships and insights that will drive mutually beneficial value creation. There are certain techniques that can be deployed to bring customer relationships to a more strategic level.
Digitalization accelerates all aspects of the business and can create unexpected opportunities. To derive the benefits from this new operating environment the company must develop processes that build agility.
Technology allows us to acquire data about all business aspects quickly, efficiently and relatively inexpensively. The skills to acquire, analyze and action this data is essential. Those skills allow the financial goals and benefits to be derived from the huge volume of data.
A discipline and methodology to validate innovations early and often utilizing mathematical tools. This approach to digital innovation has been developed by our partners based on years of highly successful experience in a variety of businesses and industries.
Leading the company with a clearly articulated perspective of purpose, vision and strategy. Ensuring alignment of stakeholders and energizing all contributors to achieve goals. Digital businesses have to operate at high speed and this is only possible if employees are clear on how they can contribute and have been properly aligned, engaged and energized to do so.
Creating a dynamic road map for the company and its innovations is crucial to provide clarity, direction and accountability to all stakeholders.
Digital strategy development is a dynamic process where technological components have the potential to deliver sustainable competitive advantages. Business leaders and Technologists must work together as partners to create and recreate these strategies.
Digital business requires new business skills for which new employees must be hired and trained. Talent engagement is crucial to support the acceleration, interactivity and problem solving capability of the agile organization.
Focused Growth Partners
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