Transformative Digitalization

We are experiencing a rapid acceleration of technology, an acceleration that has the potential to disrupt existing business models and put a lot of businesses on the road to bankruptcy.

The pandemic further worsened the impact of accelerating technologies on small and medium enterprises. All over the world, businesses have been forced to adopt tech-based solutions they were not prepared for. They need an effective digital transformation that will give them new and sustainable competitive advantages.

The Davidic Growth Paradigm is a framework that I created to help mitigate the impact of the potential disruption that can happen because of the adoption of technology that has not been well thought of or that has not been carefully crafted.?

Yes, it is about digital transformation, but I have started to use the term transformative digitalization. I realized that when you say digital transformation, people tend to focus more on the word "digital" rather than on the transformation and they automatically associate it with computers, with technology, and with automation, when in fact it's not primarily about it at all. The more important aspect is the transformation, and digitalization is the means to achieve this end. And so I have started calling it as transformative digitalization.

There are three key result areas of the framework. Number one, because we are focusing more on the transformation, the goal is to create new and sustainable competitive advantages. This should be the reason why companies would apply the framework. The second KRA is that the resulting transformation should be holistic. It should affect the whole enterprise. Not just a specific area of the business, not just a particular department or division, but the entirety of the company's business. The third, and which is I think is the main differentiation of the Davidic Growth Paradigm with other digital transformation initiatives, is that the resulting transformation should lead to exponential growth. If you are going to do it at all, do it in such a way that you harness the power of technology to create exponential growth for your business.