Organizations are either about to become irrelevant or experience unprecedented growth. What is your organization positioned for?
The industrial revolution transformed an agricultural, handicraft economy to one dominated by industry and machine manufacture. The most important changes brought about the Industrial Revolution were (1) the invention of machines to do the work of hand tools; (2) the use of steam and other kinds of power, in place of the muscles of human beings and animals; and (3) the adoption of the factory system (4) a demand greater than worker production. These important changes resulted in the emerging of new market leaders and several dominant players simply disappeared.
Now four centuries later we experience the next revolution, The Digital Revolution. The most critical changes that have led to this include, (1) mass production of cheap and mobile digital systems, (2) expansion of the internet, and (3) the drastic reduction in the availability low cost labor (4) insufficient capacity for organizations to reach their target output capacity and speed at a sustainable cost. Companies like Uber, Amazon, Apple, HBO, Netflix, Google and Disney have embraced the digital revolution, with remarkable success.
What should you be getting from technology to compete today?
Given current and emerging digital realities, a digital transformation is needed to stay ahead. Organizations need leaders with deep digital strategy knowledge and the ability to deliver in this new business climate. The organization as a whole must address the four drivers of a digital transformation.