Digitization is here to stay, so companies ought to invest in it with a long-term perspective. The likes of Uber, Netflix and Amazon remain the mainstays of this trend. Even traditional companies such as UPS and Caterpillar have leveraged their enormous data warehousing capabilities to trim their costs, understand their customers better and finally to improve productivity. Some early critics commented on digitization being a mere fad that would pass away just as fax machines, Six Sigma or process reengineering did. However, several experts today point out that in fact it is barely beginning. Digitization requires a change in company culture, its processes and the talent management norms in pace regarding people or skills. Under the processes, one fan further sub-categorize flex structures, ideation routines and tracking storms. An entire mindset shift is needed to effect this transformation. It isn’t merely about the technology, but how the same can impact customer aspirations. One is never too late to digitize, not ever too early.

Source:https://knowledge.insead.edu/leadership-organisations/a-10-point-framework-for-the-digital-journey-6801

Uploaded Date:24 July 2018