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Digital Transformation

Digital transformation is utmost on the minds of several business leaders now. Suites of technologies are competing to be central to this altered corporate strategy. However, experiments have confirmed that more than the technology, it is the company culture that will be crucial. A digital culture is also good for the employees, as it empowers the stakeholders to drive quicker results. It helps in talent recruitment and retention. Those that ignore risk, end up risking the entire transformation strategy. To execute such strategy, companies need to explore external factors, and not just look inside. Delegation has to be prized over control freakishness. Similarly, more than caution, boldness must take over. Team collaboration will always yield the better results over mere individualistic effort. Beyond planning, the team leadership has to be more actionable.

Source:https://www.bcg.com/digital-bcg/how-to-drive-digital-transformation.aspx

Uploaded Date:20 July 2019

A great deal of interest is being generated by deep technologies. These are those novel ones that allow for substantial improvements over the current ones used in. As per a study by BCG, the seven key deep tech categories have collectively grown by about a fifth each year between 2015 and 2018. Deep tech is no longer confined to only those with deep pockets. Business research conducted by Hello Tomorrow has confirmed that deep tech has gone beyond the scientific community alone as was earlier the case. Innovation too has now gone out of a few confined labs. It is now spread diverse in terms of geography, industry and functional area. The growth in new platform technologies has been the biggest boost to such deep tech. Barriers getting eliminated has also worked in its favour. The fragmentation on business approaches seems to have been a blessing in disguise. There has also been a rise in the availability of capital. Governments now need to recognize their shifting roles.

Source:https://www.bcg.com/en-in/publications/2019/dawn-deep-tech-ecosystem.aspx

Uploaded Date:27 June 2019

Like several other work areas, capital projects too are getting a digital- first approach. To execute these effectively, some key questions need to be considered. For a start, the value of the individual projects need to be defined. Large construction and engineering firms are now utilizing the power of technologies such as information modeling and advanced business analytics. The ecosystem has to be fully understood. The project delivery format too needs digitizing. The overall company culture will need some kind of transformation. Success likewise needs to get mobilized. The execution of major projects will need a digital overhaul. All this will help stem the tide, where at present capital projects on average span longer than the planned time duration by about twenty months.

Source:https://www.mckinsey.com/business-functions/operations/our-insights/operations-blog/shaping-digital-first-capital-projects?kui=shR1xE0O0l450XnS7wHBgg

Uploaded Date:26 June 2019

New technologies have made massive inroads in to business, including even traditional ones, not otherwise involving much of technology. Banks, retailers and car companies have been among such traditional sectors that have seen an influx of new technology filtering in. The inroads have been via cloud computing, machine learning, artificial intelligence and business analytics. To understand the kind of benefits these initiatives are having on the general health of businesses, some questions need to be posed, starting with how extensive is the adoption of these technologies by the non- tech firms. Another is what benefits have accrued to those that have gone digital. And thirdly, companies need to understand how they are faring after their adoption of these. The immediate improvement isn’t that significant, but it builds up over time.

Source:https://hbr.org/2019/06/research-investors-reward-companies-that-talk-up-their-digital-initiatives

Uploaded Date:26 June 2019

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