While some enterprises seek to stick their head in the dirt and ignore the impact smaller startup companies have had, there are others who see it as a learning opportunity. In an article for ZDNet, Mark Samuels gives three ways to get digital transformation right for your business:
- Look beyond the traditional enterprise firewall.
- Bring great ideas from the edge to the core.
- Define the role of the CIO in the innovation process.
Taking on Digital Transformation
Samuels starts off by stating that enterprises need to be more willing to learn from smaller, newer businesses:
Successful finance firms, says [Kevin Hanley, head of innovation at Royal Bank of Scotland], must recognise and embrace this change. To succeed in an age of disruption, big banks must combine their long-standing skills with the knowledge held by new entrants.
Business leaders looking to innovate, therefore, must look beyond the traditional enterprise firewall. However, Hanley warns other executives that the cultural element of change is more difficult than the technical transformation, particularly from evidence in his own sector.
“Finance is becoming more competitive and businesses must be more open,” he says. “Your success as an executive will be driven by your ability to work with others. There are opportunities for firms of all sizes with the right skills to be competitive. Your organisation must be technically able and culturally willing.”
Larger ideas for the organization need to be connected to its core. This means working on current measures to implement these ideas, as well as what the plan will be later down the line. Focusing solely on one or the other can lead to problems later down the line.
CIOs also should help innovation along, but shouldn’t be the sole drivers of it. Having CIOs help in the shaping of the organization’s future is pivotal to future success, but there should be many other sets of hands involved in the shaping.
For elaboration on these points, you can view the original article here: http://www.zdnet.com/article/digital-transformation-three-ways-to-get-it-right-in-your-business/