We agree that digitization and digital transformation can sound dry on paper, almost boring. If you do not feel comfortable with what the transition entails, it could also be stressful. For this reason, Mats Björk paints with large, dramatic brush strokes and many colors to demonstrate just how exciting the phase in which we currently find ourselves really is. Digitization is an ongoing revolution in which we are all tumbling around.
“In such chaos, all of the rules of the game are shifting. We have to rethink and think in new ways. Integrating rather than adding. As a company, you must be brave and look at what you actually produce in the way of customer value and that can be painful,” says Mats.
Consider what not to do
To get in sync with the digital community and meet customer needs, many companies need to make major changes. Under such circumstances, adding digital components to an existing environment will not help – it may be necessary to hit the “restart” button instead.
However, dialing back the drama a little, Mats suggests that asking the questions that will put you on the right track is easy.
“Rather than considering what you should do, you can turn it around and ask what you should not do. This will increase your focus and eliminate the risk of you spending time on matters of no relevance. You will find prioritizing so much easier,” he says.
Another key element entails owning your own transformation. Following an assessment of the situation, it is time to take the initiative, find a guiding light, set out basic objectives and then maintain that course.
Would you dare to start over – hitting the “refresh” button?
The archives contain numerous examples, both good ones and less successful ones, of companies having made the digital transformation. Kodak, Facit and Blockbuster were among those that did not succeed in time, while Microsoft provides a favorable example.
Microsoft CEO Satya Nadella wrote the book “Hit Refresh” (2017) and did just that – started over. The company then changed course entirely, shifting from being a product company to one that today offers services. Over the past five years, the company’s partnerships with former competitors have increased and they have made strategic choices, such as embracing open source code and open APIs.
Relinquishing the company’s revenue-generating business and refocusing on customer benefit was a bold move that proved highly successful as they are now in sync with the times. Customer satisfaction has increased, there is a strong inflow of collaborative partners, employees speak of a humility and openness at the company and the share price has doubled after stagnating for some time.
Five tricks to succeed in digital transformation
According to Mats, all major change occurs at three different levels – the cultural, organizational and technological levels. Here are some tricks that companies in all sectors can do to thrive in this broad-scale realignment. These include:
- How management can be adapted to a more complex situation
- How to establish effective ownership of products and services
- How to apply for resources for ventures
- How to establish a guiding light to show the entire organization the way
- How to make hypotheses and data fit together
“But I know it’s not easy,” says Mats. In addition to understanding and hard work, it involves fighting for resources to move the digital journey forward. Accordingly, when I lecture on the “Digital transformation for leaders” program, I seek convey inspiration and my best arguments to bring into the boardroom. I want those of you who attend to leave this day strengthened, more knowledgeable and inspired. I also want you to feel comfortable with change becoming the norm in the future and that you actually receive concrete things that you can try out straight away at home.
Leading Digital Transformation
The Leading Digital Transformation program empowers you as a leader with sustainable strategies and techniques to lead your organization towards digital maturity.
Program contents:
- Digital inspiration lectures with best practice cases
- Digital tools to measure your organization’s digital maturity
- Key indicators and tools to drive digital transformation.
The course lasts roughly two months and includes individual online study as well as 1 + 2 days of on-site lectures, discussions and networking with distinguished faculty and other program participants.
Contact
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Didrik Reuterswärd
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