In today’s market, transformation is of vital importance for many companies; brought about by rapid changes in digital technology, new competition, business models and the demands from a new generation of customers. Some businesses are being forced to change in order to survive, whilst others are looking to build competitive advantages.
Technology is a vital component of this transformation, but companies must be careful to discriminate between becoming “digitised” rather than “digital”. When a company is digitised, it achieves higher efficiency, reliability, and cost savings. But when it is digital, it also enables rapid product and service innovation to capture new opportunities, grow revenue and increase brand equity.
Transforming to become truly digital requires a company to change many aspects: the way it organises itself, the way it interacts with its customers and the way it utilises technology. However, for many companies these are unchartered waters, so where to begin?
Digital Mastermind has the answer.