The New Growth Playbook


Simon Torrance

Colleague and fellow Futurist Simon Torrance has developed a new online course titled: The New Growth Playbook. It provides new research and course content focused on business model transformation for the digital economy. You can access this new online course for senior executives  Here.

It’s based on new in-depth analysis of the business model performance of over 500 leading companies, and provides an holistic approach for moving the valuation needle, particularly for incumbent organisations.

Special offer for my network: 20% discount if you book using this link. There’s also a free sample video case study here: How Amazon creates new growth flywheels. The course is getting some great feedback already, so pass the details along to others. Some early feedback is highlighted below:

  • “Brilliant analysis.” Senior Partner, Global Management Consultancy
  • “I recommend this course to all leaders.” Digital Director, Global Bank
  • “Simon is at the forefront of digital trends.” Group Chief Strategy Officer, Global Telco
  • “Simon is one of a very small number of senior consultants who truly understands platform-based business models and how traditional enterprises can successfully incorporate them” Senior Director, European Media Company
  • “Simon is a thought leader extraordinaire!” Director of Leadership, Global Training Company
  • “Simon adds a lot of value” CEO, Global Packaging Company

More at: http://www.newgrowthplaybook.com

 

At the Heart of Digital Transformation


Creating a strategic foundation

To transform is to change in form, appearance, structure, condition, nature, or character. It is an overly used word that can be made to fit several narratives. Yet, given its definition, the dynamics of what is sure to be a volatile and complex future should compel us all to transform. I believe however, that the narrative must change. This is not a technology discussion, and it is not a digital discussion (although digital is the reason we are here). Rather, it is discussion of likely structural shifts that alter our beliefs and intuitions. These shifts will fundamentally change the way we think about organizations.

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Transforming for the Digital Age


Digital transformation means different things to different people. As I strive to change mindsets, I am sensitive to these distinct perspectives and the individual filters applied to terms like digital and transformation. In my view, Digital has been more narrow than holistic, while in some organizations ERP implementations are considered transformation. So, does digital transformation represent the narrow use of digital technology to improve some aspect of our organization? Or, is it the wholesale change of a set of structures, institutions and paradigms built for a different era? Although I have mostly abandoned the phrase, when I do use it, I mean the latter.

Let’s call it what it is, starting with the term transformation. To truly transform means to change from one nature, substance, form, or condition into another. I’d maintain that the pace of change has made the archaic nature of our industrial era structures, institutions, and management paradigms very apparent. Therefore, to transform in this sense means to change from the nature, form and substance of our industrial past, to a state that is viable for our digital future. Digital is foundational: the building block for which this future state is built upon. Therefore, for clarity sake, a better way to describe digital transformation is:

TRANSFORMATION FOR THE DIGITAL AGE: a change in the nature, substance, and form of our industrial past, to a future state that allows us to thrive in our emerging digital future.

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Dual Transformation


In a recent book titled Dual Transformation, the authors (Scott D. Anthony, Clark G. Gilbert, and Mark W. Johnson) focus on the challenging task of transforming the core while simultaneously creating a growth engine. They refer to it as dual transformation: Transformation A – repositioning the core, and Transformation B – creating the new. This complex tension is represented in this visual from our upcoming leadership course: Reimagining the Future: A Journey through the Looking Glass.

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Digital Transformation of Business and Society


At a recent KPMG Robotic Innovations event, Futurist and friend Gerd Leonhard delivered a keynote titled “The Digital Transformation of Business and Society: Challenges and Opportunities by 2020”. I highly recommend viewing the Video of his presentation. As Gerd describes, he is a Futurist focused on foresight and observations – not predicting the future. We are at a point in history where every company needs a Gerd Leonhard. For many of the reasons presented in the video, future thinking is rapidly growing in importance. As Gerd so rightly points out, we are still vastly under-estimating the sheer velocity of change.

With regard to future thinking, Gerd used my future scenario slide to describe both the exponential and combinatorial nature of future scenarios – not only do we need to think exponentially, but we also need to think in a combinatorial manner. Gerd mentioned Tesla as a company that really knows how to do this.

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Ecosystem Thinking


The notion of value creation and capture is a core component of business and the models that drive it. While historically viewed with a traditional product mindset, several emerging forces will alter this basic tenet of business. At its core, the way businesses create and capture value will change – the degree of change ranges from transformative to historical. The last several posts focused on the historical – namely Jeremy Rifkin’s view that we are heading towards A New Economic Paradigm. The foundation of Mr. Rifkin’s argument is a Third Industrial Revolution (TIR) platform that takes the marginal cost of production to near zero. Enabled by the Internet of Things, this General Purpose Technology (GPT) Platform could alter our landscape more dramatically than previous GPTs (steam-locomotive-printing press, electricity-auto-telephone). What happens to value creation and capture in a near zero marginal cost scenario?

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Digital Enterprise Transformation – Wrap Up


Over the last three months, I have presented a framework for thinking about transforming the enterprise to the type of enterprise that can succeed in the year 2020 – What I call a digital enterprise.

Throughout this multi-part transformation series, I have focused on those forcing functions that push us to transform – the drivers that stir us to action. Old models that were created for another time cannot lead us into this future – we must think differently. We must invent the models that define business in the decades ahead.

So, I wrap up this closer look at transformation with the hope that I’ve convinced you in some small way that we are indeed heading towards what is likely to be the most transformative period in history. My hope is that leaders everywhere think differently to usher in a period of prosperity and societal advancement. Instead of talk of disruption, let us talk of enablement and advancement. May we each have the wisdom, vision and courage to lead in this emerging transformative period.

For a review of this entire transformation series, here is an intro and link to each of the prior posts. As a reminder, forcing functions are those things that force the enterprise to invest in a future state. The enablers are those facilitators of change that allow us to address the forcing functions and build a path towards the future. Click on the underlined title to access each post.

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