Who Is Setting You Up?
Who led the digital revolution of your company?
CEO
CTO
COVID-19
Industry odds have it that option 3 takes credit.
As a population, the current pandemic has been revealing in many ways. Governments across the world now know how unprepared we are. Citizens better appreciate the efforts of their health workers. Many spouses have finally figured out the profession of their partners. And organisations have realised that digital transformation is critical to surviving as a business.
Who would have thought you did not need to travel 3 hours for that board meeting? A Zoom call could have saved both parties' time and money. With google docs, you could still have collaborated on that document in real-time from home. Schools could always have shared virtual curriculum on e-learning platforms with parents and gotten them more involved in the education of their children. Who would have thought?
These four words unveil more than just missed opportunities and unprecedented developments that may have surprised us in recent weeks. They represent a long-existing struggle with change that has for a long time led to the rise and fall of organisational visions. Who would have thought that the CEO of General Electric would have been forced out because his effort to digitally transform was regarded as ‘without real strategic focus’. Or that Procter & Gamble’s goal to become ‘the most digital company on the planet’ would also have led to the sacking of its CEO? These are just two of an overwhelming number of scenarios where an organisation has either resisted digital transformation or failed outrightly at it. A recent survey of organisational leaders across the globe and various industries conducted by MIT Sloan Management Review showed that despite firm belief in digital transformation for improving organisational performance, the majority of respondents did not achieve the expected results and were frustrated by the slow pace of transformation.
Yet a few manage to constantly transform themselves and stay ahead of the pack. The New York Times, as an example, successfully made a shift from traditional operations and prepared itself to function optimally virtually by engaging remote contributors and adopting a subscription model for its e-newspaper content. For years, Google and JPMorgan have been building remote working policies and encouraging staff to work from home. Harvard Business School long introduced virtual learning and is well equipped to run full semesters over the internet.
Why does it seem to come more naturally for them?
YOU CAN’T LEARN TO SWIM ON LAND
Think about it. As obvious as this is, it is what many businesses try to do inadvertently.
A lot of companies expect to be able to deliver value to an ever-changing technology-driven audience without being dynamic and technology-driven in personnel themselves. As this writer explains, “digital transformation isn't really about adopting technology it is about …
Tolu Oni is a Strategy Lead at Thread Strategy.