What Is Digital Transformation
Carlos Batista
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Digital Transformation is the adoption of digital technology to transform services or businesses, through replacing non-digital or manual processes with digital processes or replacing older digital technology with newer digital technology (Wikipedia).
The buzz words being used include the 4th Industrial Revolution (4IR), the Internet of Things (IoT), the Digital World, and Digital Transformation.
The digital world, the Internet, technology, and the 4th Industrial Revolution have introduced a disruptive change to the business world. We are in an era of exponential change and business needs to make their strategies agile to adapt to and leverage this change.
Having agile strategies allows you to continuously adapt to a rapidly changing world. It’s not just about embracing change but rather driving change on a regular basis. This means business owners need to take more risks which allows them to make smarter decisions which creates opportunities.
The next century is going to require business owners to be more digital by leveraging technology in the best possible ways for their business needs. The business landscape continues to transform around us but having the confidence to set and even adapt business goals, will set you steps ahead of your competition.
It is not just about having an agile strategy but having a strategy for being agile. The pace of change is accelerating with the combination of automation and globalization transforming business, markets, products, and services right before our eyes. The digital age has reduced barriers to entry for new businesses where new players can rapidly enter the market through entrepreneurship and start-ups.
Start-ups make use of technology, software, and social media networks to reach and scale quicker by spreading their brand, products, and services faster than traditional businesses can.
This pace of change means that a business's former approach to strategy needs a complete rethink to compete in the digital world.
The combination of automation and globalization allows us to… Continue Reading
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Carlos Batista
Business Transformation Specialist