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Digital Reality Dawns a Wake-Up Call for Businesses

The fast growth of digitization demands all the businesses to reinvent their evolution with a digital speed. There is a dire need for reconnecting with the consumers through digital sources to elevate their experience.

In this article at Forbes, Neeraj Arora explains that with the advent of advanced technologies like Machine Learning, AI and Big Data, extending best customer experience is the only way to make inroads into the real business world.

Right Digital Initiative

Be it sustaining the rate of growth or optimizing operating costs, pick the right digital initiative by focusing on customer interest. Digital technology will lead your way to create a lasting bond with the consumers that will grow stronger, every passing day. In the digital arena, if you try to disrupt your conventional methods, there is a new avenue of opportunity that awaits to shape a better future. Here are the four pillars to help you form a new path:

  1. A Clear Vision: To remain on the top, every business needs to reshape itself to meet the digital requirements. Make plans to draw a roadmap for digital transformation and achieve the desired business outcome. Establish and believe in the purpose of transformation. Do not hesitate to seek help from external consultants, but remain critical in evaluating their recommendations.
  2. Identify & Onboard Stakeholders: Set up a Program Management Office (PMO) to bring and manage diverse stakeholders under the same roof. Also, redraw the organizational structure to break the conventional hindrances and make way for new roles to come into play. The new age business world supports flexible roles, collaborative attitude, and agility in response time.
  3. Resistance to Change: Many CIOs consider ‘resistance to change’ as a major barrier to a successful digital strategy. To conquer the obstacle, organizations need to be change-ready and consider training and re-skilling their staff. In fact, hiring candidates with new and upgraded skills is the best way to deal with resistance to change.
  4. Embrace Agility: In the digital arena, it is essential to act fast to capitalize on the upcoming opportunities. Agile methodology fits best in the digital transformation of organizations and has a significant success rate. Therefore, it essential to leverage the agile transformation in a phased manner to reduce complexity.

Click on the following link to read the original article: http://www.forbesindia.com/blog/business-strategy/four-key-imperatives-for-businesses-to-transform-in-the-digital-age/

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