Digital Transformation in Action

May 3, 2023

Digital transformation is a process of rethinking and adapting a company’s strategy, culture, and operations to leverage digital technologies and meet rapidly evolving market demands. This transformative journey consists of digitalization (the process of converting analog information into digital format) and transformation (preparing the company for future business). A successful digital transformation enables companies to connect with customers in new ways, create and capture value, and organize work and people more effectively.

To achieve digital transformation, companies need to:

Understand the importance of both digitalization and transformation and view them as interdependent processes.
Develop a holistic business strategy that incorporates digital transformation.
Be adaptable and responsive to market changes and emerging opportunities.
Apply the principles of “Speed of Action” and “Alignment of Actions” to ensure effective and rapid growth and removal of barriers across the company.
Encourage a culture of continuous learning and adaptation within the organization.
Be open to embracing uncertainty and taking bold steps toward transformation.

Companies that commit to the challenging yet rewarding journey of digital transformation can become more agile, innovative, and efficient, ultimately thriving in an increasingly interconnected and fast-paced business landscape.

Dancing with PlatformsNovember 30, 2021 - 9:59 am
Digital platforms and their ecosystems are outgrowing all other businesses, usurping their market position, commoditizing their products, slowly squeezing them out of negotiating power and hijacking their profits. Or not? Is there a way to escape their grasp? Some kind of strategy for long-term success? How about this: Stop dancing around them. Dance with them instead.
Making Management Great AgainNovember 30, 2020 - 11:43 am
Management, as taught at business schools, is on the way to irrelevance. Today it no longer solves problems. It creates them. So-called “best practices” of management have caused a multitude of problems that only became apparent with a delay of decades, but now they are making themselves felt with force. They fall short in dynamic market environments. They stifle innovation with bureaucracy and rigid processes.
Digital Transformation Bootcamps statt BeratungJanuary 31, 2020 - 12:22 pm
Viele Firmen schieben die Digitale Transformation auf, weil sich die Unternehmensführung in dem neuen Thema unsicher ist. Je stärker sie sich damit auseinandersetzt, desto größer wird das Unbehagen: Eine Flut an Publikationen, Tools, Methoden, immer neuen technologischen Schlagwörtern und Beratern wetteifert um Aufmerksamkeit und Geld. Da gerät die fachliche Kompetenz schnell an die Grenze, die Geduld zur vertieften Auseinandersetzung aber noch eher.
Kein Wunder also, dass viele Firmen sich der Digitalen Transformation gerne mit extern zugekaufter Kompetenz nähern. Sei es durch die Anstellung eines Digitalen Experten oder durch das temporäre Engagement von Beratern. Wenn das Thema dann an diese delegiert ist, kann sich die Unternehmensführung wieder auf ihr normales Geschäft konzentrieren.
Mit dieser Haltung wird jedoch eine große Chance vertan. Digitale Transformation betrifft den Kern des Geschäfts und kann nicht erfolgreich delegiert werden. Sie erfordert die volle Aufmerksamkeit der Führung. Digitale Transformation heißt, auf allen Ebenen im Unternehmen zu lernen, wie man sein Geschäft erfolgreich verändert. Klassische Beratungsansätze helfen dabei wenig. Eine neuartige Alternative sind Bootcamps. Warum sind Bootcamps wirkungsvoller?
Digitalization or Transformation?December 23, 2019 - 1:35 pm
There is a world of difference between increasing efficiency in existing business and developing the company for future business. And yet these approaches are mixed up in the discussions surrounding digitalization and digital transformation. As a result, ideas and expectations diverge accordingly. And there is correspondingly great uncertainty about the extent and significance for one’s own company. This article provides a very pragmatic distinction between digitalization and digital transformation and uses examples to show how implementation can be successful.