We live in incredible times and the proliferation of technology is impacting life in many ways. It provides both upheavals and opportunities for small and big organizations. All of us must understand the tidal waves of change and consciously leverage technology to enhance performance that can help produce and market high quality products and services at lesser costs and time.
Radical Innovation, disruption and various shades of technology led transformation are the new buzzwords that are doing the rounds in all the business discussions around the world. In the era of exponential change it’s, important to navigate the business-world and make sense of the evolving opportunities that one can capitalize to compete and stay relevant. The inherent power and potential of right technology (smart sensors,AI,machine learning, Mobile, robotics, IoT, digital, data analytics, quantum computing, apps, algorithms, augmented reality, block chain etc.) to enhance people, performance, productivity and profits is huge and should be contextually well understood prior to implementation.
On the horizon, it can be widely felt that fear and uncertainty continues to prevail in greater magnitude than ever. In the post digital era, leading edge innovative technologies are constructively making life and work better and helping us solve some of the critical challenges with greater efficiency, convenience and speed.
Progressive organizations always take a deep look at various ever-evolving trends before they leap into the future to build or rebuild the much-needed capabilities.
Let me share some experiential perspectives and a few strategic building blocks of leveraging technology for business and organizational transformation:
- Ambition and Aspiration: It’s an important driver and a trigger point. WHY (the purpose)and WHERE (Goal) you want to go is a very fundamental question to ask.Aspirations make us go agile. CHECK – Working harder, smarter, cheaper, faster or better?
- Assess: It’s wise to assess the current level of relevance & readiness in terms of business strategy. Audit the entire business in terms of (what we do & the way we do) future expectations and identify gaps from design to delivery.
- Awareness: Navigate key trends impacting business and unleash new best opportunities which can transform business with the help of game changing technology and tools
- Adopt: Buy off the shelf, Build or sign up? Don’t just go by the tech-hype and buzz words. Check your correct understanding of technology, being contextually relevant, evidence based and ‘fit for purpose’ before adoption is key.
- Adapt: Make necessary changes and customizations both in the technology architecture and business-operating context.
- Align: Alignment of Strategy, Structure, culture, operations and people-skills are crucial to get the targeted and predictable outcomes.
- Accelerate: Skill to scale. The true road test is in action and achieving an accelerated growth & transformation in all the important drivers like: performance agility, productivity, profitable margins, revenue-market share and mindshare. The same could be achieved ethically, responsibly, inclusively and in a sustainable way.
The above steps look to be very easy and simple but they are not as easy to implement, in order achieve productive and transformative outcomes. They objectively require significant efforts and skills in terms of REFORM, PERFORM&TRANSFORM strategies and well-integrated initiatives across the business model to delivery ecosystem.
Flexible, nimble and agile organizations are much more prone to reap the benefits of technology transformation in a shorter span of time than the legacy driven or traditional ones, which could take longer years.
The trick is not “just do it” blindly but informed decision making and “ doing it purposefully and consciously” matters the most.
In the end Human + Technology is a potent enabler for – ease, speed, scale and cost of doing business
Author: Vijay Rai, A practicing business leader, working with Saviour US INC. as M.D- APAC & EMEA Markets for the Enterprise Business