Digital Transformations - another helpful guide from Raconteur Media.

Following on from my November 2018 post on 'Business Innovation' - I've come across another very helpful, and insightful, article by the same author at Raconteur Media Ltd.

This time, Francesca Cassidy focuses on the setting of digital transformation goals, picks out 5 ways to get ready for the digital transformation and then she describes 4 methods to help address the digital transformation process.

Out of the 5 ways to get ready for digital transformation, my favourite is to 'clearly articulate the "Why".' - and the importance of securing buy-in across the organisation.

In terms of 4 methods, the key one for me was 'top down' - the article provided an example of a CEO that was able to convince the company to disrupt their existing business model. For me, this is crucial in the drive to provide advanced services in a digital landscape.

The quote that caught my eye, from an advanced services and servitization perspective, was the fact that "Only eight per cent of CEOs believe their business model will survive the current levels of large-scale digital disruption."

The article by Francesca reiterates the point that many businesses out there are simply unaware of the level of disruption arising from embarking on a digital transformation journey and therefore the impact upon their existing business model.

Well worth a read.