A while ago we wrote about the range of consequences that could be introduced by Google getting their self-driving cars rolling. The implementation of this new technology would change (or even destroy) a serious amount of jobs and industries. Taxi drivers, car repairers, media enterprises and advertising businesses are only a few of the victims of this digital disruption. What about the insurers?
Last month, Harvard Business Review published an article on why we need better managers to deal with Digital Transformation. In their post they mentioned several of the aspects that the digital leadership in your company needs to excel at:
– Creating a transformative vision of how your firm will be different in the digital world.
– Engaging employees in making the vision a reality.
– Channeling an organization’s energy through digital governance.
– Breaking down silos at the leadership level to drive digital transformation together.
We agree with many of the things that are mentioned, but the question is: how do you find this digital leadership?
The (mental) age of your company is one of the first things you will be confronted with when you deal with digital transformation. The bigger the company you work for, the higher the chance that it is an “old” company, with a leadership structure that is much older than the average of the market.
This is a first indication of how large the distance might be between how your company thinks and how your market thinks. As the image below shows, we are often confronted with a situation in which the average age of all the people in your company is substantially higher than the average age of your market. Read More
Change and evolution are nothing new. Humanity is subject to permanent change: every cell, every person, everything around us, every part of the universe is changing and evolving. This has been the case since the big bang and it will go on forever. So why is digital change so scary? Why is it so difficult to manage?
In last week’s blogpost we talked about bringing your chips to the table and spending them wisely.
So how much should you invest? To be honest: we do not know, nobody knows, because it is not just a matter of money, it is also a matter of smart money.
Digital has been an activity at the sidelines for most businesses in the past, so budgets have always been limited or they have simply been spent the wrong way. These are two significant reasons why most companies fail to accelerate their digital efforts:
The best strategy to adopt new technologies is diving right into them. In the digital world, that means using new tools as soon as they’re released, subscribing to new networks that get attention, downloading mobile apps that get traction, following startups that have the potential to disrupt your business. However, most businesses do the opposite. They are simply not aware of what’s new or they are not taking what’s happening in front of their eyes seriously.