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Digital Transformation

Amidst the growing chorus for digital transformation to be worked out better, some inputs have already arrived from companies that have already executed this tough task correctly. First of all, the clear priorities need to be neatly laid out. The next step is to invest heavily on the talent. This must be especially true for the top level. Management training programmes need to be invested on. Some of the most cutting- edge requirements need be focused on, such as for business analytics. All this will require time and money, so this must not be compromised upon. The team processes must be run on agile mode, rather than the traditional hierarchical structures. The people in the team must also get empowered so they may take the right decisions at their level.

Source:https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/digital-transformation-improving-the-odds-of-success

Uploaded Date:06 January 2020

Wolters Kluwer is a publishing house founded back in the 1830s, but the Dutch multinational has seen a rapid shift in its business strategy over the past fifteen odd years. Its model now encompasses greater revenues out of digital sales. The person who has presided over this sea change is Ms. Nancy McKinstry, who is also placed the highest amongwomen in the world’s best performing chief executives, released by the Harvard Business Review (HBR). She confirms how change is hard, but digital transformation even more so. Data warehousing is something, McKinstry lays a lot of stress on, as she feels it’s the lifeblood behind the business, to capture useful insights. Writing skills have also become extremely important, which her business consulting experience provided her with the right platform to excel at. Due to the deep sense of legacy prevalent at Wolters Kluwer, the change agents had to work in a way that did not imperil the values inculcated since long. Being an American, and thus in some ways an outsider, helped Nancy chart a unique path, to not get heavily embroiled in the structures.

Source:https://hbr.org/ideacast/2019/12/how-one-ceo-successfully-led-a-digital-transformation?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert_activesubs&utm_content=signinnudge&referral=00563&deliveryName=DM61007

Uploaded Date:06 January 2020

The most successful of companies in the future will be those that will blend in the best of human and technological capabilities. These kinds of companies will henceforth be considered as the Bionic companies. The corporate strategy drafted will be at the heart of how they function. A good example of this is that of Tujia, which defeated Airbnb in China, by localizing the operations and the search net. The technology part of the deal would involve being innovation- ready and conducting the right data warehousing. The people part would comprise of the digital talent and the ability to thrive in a platform organization. Instead of operating processes, in the near future, professionals will be designing such processes.

Source:https://www.bcg.com/featured-insights/winning-the-20s/anatomy-of-the-bionic-company.aspx

Uploaded Date:27 December 2019

Among the different business function, operations management too is not behind in terms of adoption of automation. In fact, robotic automation is causing significant changes to the way this field works. Over business research recently concluded by McKinsey, it has emerged that nearly three- quarters of organizations in this field have either already started the process, or soon going to start the same. At twenty- eight percent of them, pilot studies have already begun. A matter of caution needs to be exercised in understanding the intricate differences between traditional automation and the Robotic Process Automation (RPA). The latter leads to an accelerated implementation. There are also fewer barriers to its entry. The control exerted is also greater. Some common activities can easily be applied on using RPA. One of them is network monitoring. Another is remote troubleshooting and resolution. The other two are for self- help facilities and for automated dispatching. Ultimately, it is all about the impact generated. One has to implement management training programmes to reskill the organization. Likewise, the IT collaboration too needs to be worked upon.

Source:https://www.mckinsey.com/business-functions/operations/our-insights/operations-management-reshaped-by-robotic-automation

Uploaded Date:27 December 2019

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