by Kabir Joshi
Digital strategy, digital disruptions, digital organizations, digital talent building all have become common phrases today, but have sufficiently created a gap in their true meaning. Are they all related? Are they very different? Or has the basic premise of digital transformation not been understood? To bring clarity to the situation, KNOLSKAPE is delivering a three-part webinar series on “Clearing the Digital Blur”. The first part of the series focused on providing a strong understanding of the very idea of digital, and where the missing link lay. Here is a synopsis of the webinar.
The Birth of the Digital BLUR (Boundaryless Organizations’, Lawless Innovation, Ubiquitous Digitalization & Robotic Automation
An imperative for digital transformation has emerged. Digitalisation is putting pressure on revenues and profit growth across industries. Average revenue growth, as well as EBIT margins, are already showing negative movements of up to 6% across industries and this is about to go lower when complete digitalisation hits. (Mckinsey,2015)
The phrase “Digital is business and business is digital”, has entered the lexicon of CEOs across the world. Across industries, business heads are waking up to this challenge and are gearing up to weather this storm.
To clear this BLUR, we need to first understand the cause behind it. The birth of the digital BLUR can be traced to four key causes:
Technology Disruptions – Eliminating or causing a complete metamorphosis of business models. The 3D printing industry is a prime example.
The Networked Customer – It is no longer a one-way communication from the producer to the consumer. The consumer today sits at the center of a matrix with access to multiple networks of communications, and producers need to leverage and keep an eye on the network.
Changes – PESTEL has always impacted businesses. The digital disruption of today is characterized by pronounced changes in political and economic realms.
The Digital Disruptors – Armed with cutting edge technologies, data-driven decisions and digitally native talent, these companies are challenging status quos of established Goliaths and making the cause for “fast fish eating the slow fish.”
Clearing the BLUR
The question now arises as to how do we build strategies for the BLUR? Are there core tenets that can make up this strategy? The answer is yes. If we closely look at the causes of this BLUR, we see three key areas that emerge out to help us with the strategy for BLUR.
Strategy for the Digital BLUR
The Missing Link of the Digital BLUR
But are defining strategies for the Digital BLUR enough? Is there a missing a link while trying to clear the BLUR?
These statistics point to that missing link
- Over 90% of talent in companies lack digital skills
- Only 46% of companies invest in digital skill building
- BUT Only 4% companies align their training efforts to their digital strategies
We continue to discuss a lot about strategy but what we miss observing is that talent is the rudder for this strategy to get direction and move in the right direction. Unless the talent is aligned and digitally ready no amounts of 9 box grids, 7S’s or stars and dogs will be able to make any headway in clearing the digital BLUR.
As I say this I am reminded of a quote in the Sherlock series – “we fail to observe what we see”, and in the case of the digital BLUR, we see the strategy but fail to observe the missing link.
In part two of our digital BLUR series, we drill down into this missing link and bring to you a talent strategy for the Digital BLUR.