MANAGING in the

NEW WORLD

Digital Transformation

Among all industries, the Consumer-Packaged Goods (CPG) segment is the one most susceptible to a complete shakeup thanks to digitization. A lot of mergers and acquisitions are taking place to tide over the troubles, but on a more long-term sustainable manner, a few methods have been identified, following which CPG firms can help employees manage this transformation. First of all, as done by L’Oréal, the digital transformation has been inducted into the corporate strategy, thus from the top management onwards it is being dealt by. In order to pick up insights from the customers directly, a change has to be made from traditional hierarchies which has been challenged by the likes of Warby Parker, Dollar Shave Club and Glossier. Connected Home owned by Centrica for example empowered the front facing staff to collect vital data and pass on to the management, trends as it became a repository for business intelligence collected. Thirdly flexible work timings and patters must be put in place so that employees may embrace agility at work as exemplified by P&G Asia. The employee experience needs to be designed to make it as smooth as possible and help in talent retention and upgradation. Finally, training programmes must be designed in such a manner that the learning is not restricted to the sessions alone, but there is constant learning at work and beyond it.

Source:https://hbr.org/2017/09/5-ways-to-help-employees-keep-up-with-digital-transformation

Uploaded Date:06 October 2017

 

Capital One over the past two odd decades has transformed itself as one of the leading digital banks in the world. One venture it has put in a lot of effort is Fin Tech. These are usually start-ups that are tech companies but whose focus on work is in finance. Digital Bank specially set up an application to keep track of start-up developments. Some of the growth has been inorganic such as with the acquisition of a leading design firm known as Adaptive Path. Capital One has made extensive usage of its data by conducting business analytics operations to get better idea on the people concerned. This has allowed the company to keep track of all business processes. One innovation customers should look forward to is the app Wallet. This allows transactions using any number of credit or debit cards. Another is Second Look which is can detect unusual patterns and thus very useful for companies in detecting frauds.

Source:http://www.forbes.com/sites/peterhigh/2016/12/12/how-capital-one-became-a-leading-digital-bank/#1563b0383a82

Uploaded Date 31 July 2017

Digital transformation is more than mere technology change, it is in fact a complete different approach towards life itself. In a digital world, processes get shortened in the form of data. This enormous data generated allows companies to conduct business analytics operations to fully comprehend even minute aspects of their business. Due to such data getting generated, conventional assumptions get challenged. Airbnb is an example of a company which soon realized that possessing physical assets was an anachronism which was not needed. Data also allows speed of information to come up for better decision making. The business intelligence thus generated can provide information of any aspect at one place. However, there exist no short cuts in digital transformation. Since all processes and data re inter-related, thus a holistic plan is needed for any firm to digitize fully.

Source:https://www.forbes.com/sites/peterbendorsamuel/2017/07/21/the-power-of-digital-transformation-in-a-data-driven-world/#7f5052573f2c

Uploaded Date:28 July 2017

Managers these days are increasingly found guilty of being insulated from the real world and living on a bubble. An example of this is the taxi companies before the arrival of Uber. With so much data being available, had these firms conducted better business analysis, they would have surely found the signs that an impending disaster could get real. Instead they choose to ignore all tell-tale signs and Uber rendered them bankrupt. A similar case is that of Aramex which is a logistic company run by a Jordanian. The founder had earlier ventured in a partnership with FedEx but soon realized the business model was not going to work in the Middle East. So he created this firm which today is extremely valuable. The most visionary of business leaders like Narayan Murthy of Infosys always ask the most relevant of questions. These are the kind of places doing sustainably innovative work.

Source:https://hbr.org/ideacast/2017/03/break-out-of-your-managerial-bubble?referral=00563&cm_mmc=email-_-newsletter-_-daily_alert-_-alert_date&utm_source=newsletter_daily_alert&utm_medium=email&utm_campaign=alert_date&spMailingID=16795153&spUserID=OTY0OTMwNTk5NwS2&spJobID=981300005&spReportId=OTgxMzAwMDA1S0

Uploaded Date:28 July 2017

SKYLINE Knowledge Centre

Phone: 9971700059,9810877385
E-mail: info@skylinecollege.com
© 2017 SKYLINE. All right Reserved.