■ ■ ■ ■ Industry 4.0 Innovation for Change ???????? ???? ???????????? ?????? ???????? ■ Lots of time organizations are forced to innovate and transform due to several influencing factors. ■ Here are the 7 influencing factors which act as a catalyst to initiate a Digital Transformation Program. ■ 1. Change in Customer Demand Changes in customer demand pattern in terms of need, volume, & variety of products. ■ 2. Change in Market Ecosystem Changes in the market ecosystem due to entry of new players in vertical integration of supply chain. ■ 3. Change in Business Model Changes in a business model that how an organization creates, delivers, and captures value. ■ 4. Change in Technology Landscape Change with respect to the availability of new technology to create and deliver the product and services. ■ 5. Change in Regulatory Compliance Change with respect to new rules, guidelines, and policies from the regulatory bodies and government authorities. ■ 6. Change in Economy Dynamics Change due to various factors from Microeconomics and Macroeconomics. ■ 7. Change in Demography Features Change in demographic characteristics includes age, gender, income, education, homeownership, marital status, family size & health, etc. ?????????????? ???????????????????????????? & ???????????? ???????????????????? ■ In any Digital Transformation program, Change is always inevitable. Avoiding or refusing it can only lead to failure. ■ On the other side of the coin, adopting change looks like to be the secret to the success of the most innovative and profitable companies today. ■ Nevertheless, such a transformation does not happen overnight. It is a long-term process, requiring everyone’s responsibility for it to achieve. ■ We all display a certain form of natural resistance when it comes to change, which can lead to mistrust and disbelief. Therefore, it is important to quickly support a culture of change within the organization. ■ Change management is a set of methods designed to support the workforce in circumstances of major transition – such as digital transformation. ■ Adopting a change management strategy at an early stage of the digital transformation program helps to relieve fears and encourage the adoption of new tools and practices. ▃ ▃ ▃ ▃ ■ Next, in the following 3 steps, we can manage a change associated with a digital transformation program. ■ 1.?Ready for change planning and execution by involving all the key stakeholders and considering all the impacting factors. ■ 2.?Put People at the heart of strategy as organizational culture & people are at the center of any change program. ■ 3. Communicate on a regular basis by establishing a feedback mechanism and a firm governance structure so as to adapt to any change. ■ ■ ■ ■ KULDEEP KAUSHIK THE INDUSTRY FOUR?▌?www.theindustryfour.org ■ ■ ■ ■ #ti4bok?#ti4?#ti4tf?#tiffaa?#tiforum?#theindustryfour?#thekuldeepkaushik?#digitaltransformation?#change #changemanagement #transformation #innovation