Digital Transformation in large organizations
Digital transformation is very different from other strategic imperatives or initiatives. It forces organizations and leaders to relook and question the “way we have always done business” and potentially disrupt the process, paradigm of value creation and the status quo along the way.
It really pushes them out of their “comfort zone”. For large, matrix organizations, digital adoption or acceleration would mean transformation in all aspects of organization. While technology is the key, technology alone cannot help (built it and they will come, will not work anymore)
Here are some of the key tenets that need to be part of the transformation journey –
- The letting go mind set – The first and the key is embracing the change or rate of change and letting go /adapting the existing decision-making structures, operating models etc. that support the transformation journey and embrace disruption and innovation along the way
- Investment or cost vs benefit rationale – Digital transformation needs to be part of the core strategy and imperative. It may seem capital intensive (Investing in tech, resources, or letting go of legacy systems) at first, but is something organization need from sustainability and scalability standpoint.
- Organization’s Capability and agility – the organization needs to evolve to be agile, embrace the speed at which things are evolving and ability to pivot along the way. This includes not only the employees, but the processes and mind set.
- Start-up or Intrapreneurship mindset – Although large organization have started cultivating the start-up mindset (innovation hubs etc.) and are recognizing the need for it is still not a part of the DNA.
- Organization culture – Last but not the least, one of the biggest deterrent or resistance is the inherent culture in the organization, example being the silos etc. For any of this to succeed the organization need to evolve their culture.
To sum it – While this is not comprehensive and nothing new, it sometimes helps reiterate and pen down.