Let me start by stating I dislike the overused word transformation. I like it even less when it is paired with the word digital. First, if we are not in a perpetual state of transformation in this era of uncertainty, volatility, and rapid pace, we are not likely to advance our organizations or society. Second, digital is foundational and should be part of the fabric of any business, not an optional transformation initiative. When stated as digital transformation, it feels like an event as opposed to standard operating procedure. Are you considering the use of emerging technology to create value? That’s an everyday activity given how many technological building blocks exist and how many are on the horizon. Considering a new business model? It is not the transformative event it once was, but something that happens with regularity. Extreme event rattled the status quo? Likely part of the standard operating environment going forward.Continue reading
Many have drawn the conclusion that those organizations that invested in digital fared much better during the pandemic. When I think back to my early digital transformation content, the forcing functions that I felt would drive organizations to transform seemed clear. So why has the pandemic identified winners and losers? This question had me thinking about a discussion I had recently with colleague Hassan El Bouhali, where we reflected on the past several years in the context of what we expected and what actually happened. We specifically focused on a 2017 Video that Hassan, TCS CTO Ananth Krishnan, and I, did for an online course exploring the future. We decided to produce another video in the near term that reflects on our thoughts from four years ago. In the meantime, I started to revisit my older posts with reflection in mind, starting with my Thoughts on Automation from 2014, and then thinking about the digital discussion going on today.
In 2018, I explored what I felt was At the Heart of Digital Transformation. What strikes me from that post is how often I hear the word resilience today, and how infrequently I heard it back then. In 2015, I had a fascinating discussion with Futurist Gerd Leonhard that I captured in a post titled the Digital Transformation of Business and Society. To this day, that continues to be my most viewed post. It was a wide ranging conversation that covered topics like automation, society, digital governance, and technological unemployment. Gerd spoke of things like, instead of AI, we should refer to it as IA – or intelligent assistant. The key take away from that session was this:
The future is exponential, combinatorial, and interdependent: the sooner we can adjust our thinking (lateral) the better we will be at designing our future.Digital Transformation of Business and Society
Back in 2015, I was looking at emerging organization models for a societal shift to a very different era. While organizations have experimented with many of these, the truth is, most still struggle with this critical structural change. One impactful model was positioned by Geoffrey Moore in his book titled Zone to Win. Given how relevant the topic is today, I am reposting my synopsis of the book below. In addition, here are three additional posts on the topic:Continue reading
A recent Article describes how Target transformed from a Retailer with stores in disrepair and leaders that struggled to adapt to changing consumer behavior, to a company that is thriving. Their first quarter results for 2019 beat analysts’ expectations, the store’s private-label lines are exploding, and the stock price is trading at an all-time high.
Target CEO Brian Cornel made a huge announcement in March of 2017 that it planned to invest over $7 billion in a turnaround strategy – Wall Street was not impressed, as Target suffered its largest stock plunge in almost a decade on the day of the announcement. But Mr. Cornel took a page out of Jeff Bezos book and pushed forward on a plan that included: