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I started writing papers or giving talks at global conferences on the topic of disruption and digital transformation in the Fall of 2019. Within a few short months, a world-wide pandemic was declared and COVID-19 was taking lives globally. This deadly virus continues to create both social and economic disruptions.
Our world has already been experiencing industrial disruption (aka Industrial 4.0); now adding this social and economic disruption has forever changed how we do business regardless of the industry. For organizations to not only survive, but thrive, the question is no longer “do we want to embark on a digital transformation journey”, but rather “what is the strategic and tactical plan of our digital transformation journey”.
The term disruption often connotes negativity, when it should be considered an opportunity for positive change. The closing of one door is the innovative opening of another. Now is the opportunity for organizations to create and proliferate (or wither and die).
There are several impacts due to the disruption of this level, including innovation, technology and cultural. What we are (or have been) experiencing with social distancing, home quarantines, and restricted travel is that the changes breed new consumer behaviors, which consequently inspire novel approaches to marketing and selling. Other results due to disruption are leveraging analytics for root cause analysis, on-going improvements, and real-time awareness of business performance. If organizations are going to survive any form of disruption, being able to make decisions at the speed of thought based on business performance and the fast changes in market conditions are not only critical, but essential.
Organizations need to get good at three things and fast. In this concurrent session, we will: • Review the three items that are critical to an organization’s future, regardless of the source of impact, and how to achieve them • Discuss the opportunities that arise as a result of embracing disruption • Understand how an organization can thrive by taking advantage of the opportunities • Review how organizations, in any industry, can re-define how they do business by streamlining their digital transformation journey with an operational excellence platform.
With disruption comes opportunities for everyone and all organizations. These opportunities must allow enterprises to redefine how they work and adopt a better way to serve their employees and customers. It forces our hand to “be” digital not just “do” digital. The disruption of today compels new thinking and behaviors that end one trend while giving rise to new awakenings that previously didn’t exist.
Learning Objectives:
Review some lessons learned from once market leaders that all fell prey to technical disruption and how it could have been avoided.
Review the three items that are critical to an organization’s future and how to achieve them.
Discuss the opportunities that arise as a result of embracing disruption.
Understand how an organization can thrive by taking advantage of the opportunities caused by Disruption 4.0 and incorporating people, process and technology into the strategy.
Review how organizations, in any industry, can re-define how they do business by streamlining their digital transformation journey with an operational excellence platform.
