L’ensemble des contenus Business Digest est exclusivement réservé à nos abonnés.
Nous vous remercions de ne pas les partager.
Digital transformation is only just beginning.
True
False
Right !
The next – and imminent – wave of technology uptake, driven by the convergence of mobile technology, analytics, social media, cloud computing and embedded systems, will make everything we already know seem like a warm-up act.
(Source: CapGemini Consulting).
(Source: CapGemini Consulting).
Wrong !
The next – and imminent – wave of technology uptake, driven by the convergence of mobile technology, analytics, social media, cloud computing and embedded systems, will make everything we already know seem like a warm-up act.
(Source: CapGemini Consulting).
(Source: CapGemini Consulting).
Digital transformation is being driven by new technologies.
True
False
Right !
First and foremost, a coherent digital transformation is designed to achieve strategic and competitive advantages. New technologies are just the tool for doing this. In their survey of 400 large organizations in traditional industries around the world, George Westerman (MIT), Didier Bonnet (CapGemini Consulting) and Andrew McAfee (MIT) showed how businesses are using digital transformation to gain competitive and strategic advantage. Their book, Leading Digital (See this month’s report), demonstrates that the leaders of these companies – whom they call “digital masters” – transformed their enterprises using suitable digital investment, tailored governance and effective change management.
Wrong !
First and foremost, a coherent digital transformation is designed to achieve strategic and competitive advantages. New technologies are just the tool for doing this. In their survey of 400 large organizations in traditional industries around the world, George Westerman (MIT), Didier Bonnet (CapGemini Consulting) and Andrew McAfee (MIT) showed how businesses are using digital transformation to gain competitive and strategic advantage. Their book, Leading Digital (See this month’s report), demonstrates that the leaders of these companies – whom they call “digital masters” – transformed their enterprises using suitable digital investment, tailored governance and effective change management.
Digital transformation is being led by the millennium generation.
True
False
Right !
Yes, false again. It is true, on the one hand, that millennials are very high users of digital tools and adopt the digital behaviors that go with them. Many of them know what do to and how to act in clear, fluid and fast-moving companies that have gone digital – all of which describes the organization of tomorrow, according to numerous experts. However, although new technology is a tool and millennials are inspirers, a successful digital transformation is based first and foremost on “What?” – the ability to manage strategic priorities – and “How?” – the ability to drive the transformation. The very first step in making a success of things, as in any major change project, is to choose between the different strategic priorities in three key areas: customer service, operational processes and strategic innovation.
Wrong !
Yes, false again. It is true, on the one hand, that millennials are very high users of digital tools and adopt the digital behaviors that go with them. Many of them know what do to and how to act in clear, fluid and fast-moving companies that have gone digital – all of which describes the organization of tomorrow, according to numerous experts. However, although new technology is a tool and millennials are inspirers, a successful digital transformation is based first and foremost on “What?” – the ability to manage strategic priorities – and “How?” – the ability to drive the transformation. The very first step in making a success of things, as in any major change project, is to choose between the different strategic priorities in three key areas: customer service, operational processes and strategic innovation.
Customer service is one of the three key areas of digital transformation.
True
False
Right !
According to a study conducted by Harris Interactive, there was a 21% rise in the number of consumers who quit companies following bad customer experiences between the years 2006 and 2011. And yet, less than half of the companies studied have plans in place to address this issue. The exceptions are the small minority of “digital masters,” who consistently invest in the following “related interventions” to create more rewarding customer experiences:
1. “(Putting) customer data at the heart of the whole customer experience,” using data analysis and metrics to develop deeper understandings of customer behaviors. This understanding can then be used to identify customer pain points and figure out ways to alleviate them.
2. Increasing reach and engagement via digital channels, such as mobile apps and social media networks.
3. Blurring the lines between customer physical and digital experiences in new ways.
Source: Leading Digital: Turning technology into business transformation, by George Westerman, Didier Bonnet and Andrew Mcafee (Harvard Business Review Press, October 2014).
1. “(Putting) customer data at the heart of the whole customer experience,” using data analysis and metrics to develop deeper understandings of customer behaviors. This understanding can then be used to identify customer pain points and figure out ways to alleviate them.
2. Increasing reach and engagement via digital channels, such as mobile apps and social media networks.
3. Blurring the lines between customer physical and digital experiences in new ways.
Source: Leading Digital: Turning technology into business transformation, by George Westerman, Didier Bonnet and Andrew Mcafee (Harvard Business Review Press, October 2014).
Wrong !
According to a study conducted by Harris Interactive, there was a 21% rise in the number of consumers who quit companies following bad customer experiences between the years 2006 and 2011. And yet, less than half of the companies studied have plans in place to address this issue. The exceptions are the small minority of “digital masters,” who consistently invest in the following “related interventions” to create more rewarding customer experiences:
1. “(Putting) customer data at the heart of the whole customer experience,” using data analysis and metrics to develop deeper understandings of customer behaviors. This understanding can then be used to identify customer pain points and figure out ways to alleviate them.
2. Increasing reach and engagement via digital channels, such as mobile apps and social media networks.
3. Blurring the lines between customer physical and digital experiences in new ways.
Source: Leading Digital: Turning technology into business transformation, by George Westerman, Didier Bonnet and Andrew Mcafee (Harvard Business Review Press, October 2014).
1. “(Putting) customer data at the heart of the whole customer experience,” using data analysis and metrics to develop deeper understandings of customer behaviors. This understanding can then be used to identify customer pain points and figure out ways to alleviate them.
2. Increasing reach and engagement via digital channels, such as mobile apps and social media networks.
3. Blurring the lines between customer physical and digital experiences in new ways.
Source: Leading Digital: Turning technology into business transformation, by George Westerman, Didier Bonnet and Andrew Mcafee (Harvard Business Review Press, October 2014).
Innovation is one of the three key areas of digital transformation.
True
False
Right !
15% of the companies studied are using game-changing new technologies as the basis for strategic business model innovation. The authors provide the following checklist to help you use digital technologies to challenge your business model regularly (before the competition does it for you):
• They monitor symptoms for changing business models in their industry (for example, commoditization, new entrants, and technology substitution).
• They study how to transform their business model before others in their industry and evaluate the need to replace products and services under threat from digital competitors with newer versions.
• They experiment with new business models ideas, such as by creating 100% digital subsidiaries.
Source: Leading Digital: Turning technology into business transformation, by George Westerman, Didier Bonnet and Andrew Mcafee (Harvard Business Review Press, October 2014).
• They monitor symptoms for changing business models in their industry (for example, commoditization, new entrants, and technology substitution).
• They study how to transform their business model before others in their industry and evaluate the need to replace products and services under threat from digital competitors with newer versions.
• They experiment with new business models ideas, such as by creating 100% digital subsidiaries.
Source: Leading Digital: Turning technology into business transformation, by George Westerman, Didier Bonnet and Andrew Mcafee (Harvard Business Review Press, October 2014).
Wrong !
15% of the companies studied are using game-changing new technologies as the basis for strategic business model innovation. The authors provide the following checklist to help you use digital technologies to challenge your business model regularly (before the competition does it for you):
• They monitor symptoms for changing business models in their industry (for example, commoditization, new entrants, and technology substitution).
• They study how to transform their business model before others in their industry and evaluate the need to replace products and services under threat from digital competitors with newer versions.
• They experiment with new business models ideas, such as by creating 100% digital subsidiaries.
Source: Leading Digital: Turning technology into business transformation, by George Westerman, Didier Bonnet and Andrew Mcafee (Harvard Business Review Press, October 2014).
• They monitor symptoms for changing business models in their industry (for example, commoditization, new entrants, and technology substitution).
• They study how to transform their business model before others in their industry and evaluate the need to replace products and services under threat from digital competitors with newer versions.
• They experiment with new business models ideas, such as by creating 100% digital subsidiaries.
Source: Leading Digital: Turning technology into business transformation, by George Westerman, Didier Bonnet and Andrew Mcafee (Harvard Business Review Press, October 2014).
Social relationships (social networks) are one of three key areas of digital transformation.
True
False
Right !
No, social networks are not a goal, they are a tool that can be used to spread technology adoption and behaviors essential to digital transformation. Rather than networks, the third key area for any digital transition lies in resolving operational paradoxes! Digital transformation enables leaders to break free from traditional managerial paradoxes that undermine operations: standardization of routine tasks while empowering employees to focus on more fulfilling tasks; management control over processes and experimentation and innovation more feasible thanks to real-time data; collective orchestration and individual autonomy facilitated.
Source: Leading Digital: Turning technology into business transformation, by George Westerman, Didier Bonnet and Andrew Mcafee (Harvard Business Review Press, October 2014).
Source: Leading Digital: Turning technology into business transformation, by George Westerman, Didier Bonnet and Andrew Mcafee (Harvard Business Review Press, October 2014).
Wrong !
No, social networks are not a goal, they are a tool that can be used to spread technology adoption and behaviors essential to digital transformation. Rather than networks, the third key area for any digital transition lies in resolving operational paradoxes! Digital transformation enables leaders to break free from traditional managerial paradoxes that undermine operations: standardization of routine tasks while empowering employees to focus on more fulfilling tasks; management control over processes and experimentation and innovation more feasible thanks to real-time data; collective orchestration and individual autonomy facilitated.
Source: Leading Digital: Turning technology into business transformation, by George Westerman, Didier Bonnet and Andrew Mcafee (Harvard Business Review Press, October 2014).
Source: Leading Digital: Turning technology into business transformation, by George Westerman, Didier Bonnet and Andrew Mcafee (Harvard Business Review Press, October 2014).
Digital transformation is a change project like any other.
True
False
Right !
Of course it is, once you’ve decided on the “What?” (i.e. what your priority is going to be)! The “what” needed to succeed at becoming digital requires significant investment in three key strategic priorities: customer experience, operational processes, and business model innovation.
1- Frame the digital challenge: clear, compelling digital transformation vision convinces everyone of the need for change, gives people an idea of how the change will affect their jobs and how to make it happen: create a shared vision and align your teams around a shared vision of your company’s digital future.
2- Focus investment: Convert the digital transformation vision into strategic goals, and translate priorities into a roadmap of initial activities. Don’t forget to design governance mechanisms and find the transformation.
3- Sustain the transformation: build foundation capabilities (competences, IT, HR etc.) and measure, monitor, and iterate!
1- Frame the digital challenge: clear, compelling digital transformation vision convinces everyone of the need for change, gives people an idea of how the change will affect their jobs and how to make it happen: create a shared vision and align your teams around a shared vision of your company’s digital future.
2- Focus investment: Convert the digital transformation vision into strategic goals, and translate priorities into a roadmap of initial activities. Don’t forget to design governance mechanisms and find the transformation.
3- Sustain the transformation: build foundation capabilities (competences, IT, HR etc.) and measure, monitor, and iterate!
Wrong !
Of course it is, once you’ve decided on the “What?” (i.e. what your priority is going to be)! The “what” needed to succeed at becoming digital requires significant investment in three key strategic priorities: customer experience, operational processes, and business model innovation.
1- Frame the digital challenge: clear, compelling digital transformation vision convinces everyone of the need for change, gives people an idea of how the change will affect their jobs and how to make it happen: create a shared vision and align your teams around a shared vision of your company’s digital future.
2- Focus investment: Convert the digital transformation vision into strategic goals, and translate priorities into a roadmap of initial activities. Don’t forget to design governance mechanisms and find the transformation.
3- Sustain the transformation: build foundation capabilities (competences, IT, HR etc.) and measure, monitor, and iterate!
1- Frame the digital challenge: clear, compelling digital transformation vision convinces everyone of the need for change, gives people an idea of how the change will affect their jobs and how to make it happen: create a shared vision and align your teams around a shared vision of your company’s digital future.
2- Focus investment: Convert the digital transformation vision into strategic goals, and translate priorities into a roadmap of initial activities. Don’t forget to design governance mechanisms and find the transformation.
3- Sustain the transformation: build foundation capabilities (competences, IT, HR etc.) and measure, monitor, and iterate!
Banks are thought to be conservative when it comes to digital expertise.
True
False
Right !
Surprise, surprise! Banks are considered “digital leaders” alongside high tech companies and those in retail trade!
The authors of Leading Digital divided companies into four categories of digital maturity: fashionistas, digital masters, conservatives, and beginners. They note that levels of expertise vary according to area of activity, and their study shows that banks are digital masters: strong overarching digital vision / excellent governance across silos / many digital initiatives generating business value in measurable ways / strong digital culture.
And how about you — what are you doing when it comes to digital transformation?
The authors of Leading Digital divided companies into four categories of digital maturity: fashionistas, digital masters, conservatives, and beginners. They note that levels of expertise vary according to area of activity, and their study shows that banks are digital masters: strong overarching digital vision / excellent governance across silos / many digital initiatives generating business value in measurable ways / strong digital culture.
And how about you — what are you doing when it comes to digital transformation?
Wrong !
Surprise, surprise! Banks are considered “digital leaders” alongside high tech companies and those in retail trade!
The authors of Leading Digital divided companies into four categories of digital maturity: fashionistas, digital masters, conservatives, and beginners. They note that levels of expertise vary according to area of activity, and their study shows that banks are digital masters: strong overarching digital vision / excellent governance across silos / many digital initiatives generating business value in measurable ways / strong digital culture.
And how about you — what are you doing when it comes to digital transformation?
The authors of Leading Digital divided companies into four categories of digital maturity: fashionistas, digital masters, conservatives, and beginners. They note that levels of expertise vary according to area of activity, and their study shows that banks are digital masters: strong overarching digital vision / excellent governance across silos / many digital initiatives generating business value in measurable ways / strong digital culture.
And how about you — what are you doing when it comes to digital transformation?
Your results
/ 8
SIGN IN
