When global corporate and financial leaders convened for the annual World Economic Forum in Davos, Switzerland in mid-January, one of the prevailing themes that came out of the conference was the anti-globalization sentiment being shared in the wake of the Brexit vote and the rise of nationalism.
One of the biggest challenges associated with digital transformation is determining the right steps the company should take on its digital journey and which actions to prioritize.
There's a recent adage that all companies are now technology companies due to their reliance on technology to run the business and use data to drive decision-making. Taking that logic a step further, Monsanto CIO Jim Swanson pointed out that all companies are undergoing some type of transformational change right now, whether it's connected to M&A, R&D, business disruption, or some other factors.
From outward appearances, the new iPhone 7 represents a modest step forward in tech development. It seems clear to me that Apple is sharing its vision of a wireless future.
Digital disruption and business model innovation are forcing enterprise companies across industries to transform their businesses to improve competitive standing. Thanks to emerging competitive threats, companies can no longer rely on traditional business practices to retain customers and market share.
Last week Walmart announced it would buy Jet.com for $3B and Macy's announced it would close 100 stores. The common denominator in both stories is Amazon, which has proven beyond a shadow of a doubt that online is the future of retail.
If digital transformation isn't at the core of your organization's business strategy, it should be. As a growing volume of consumers and other businesses increase their use of digital channels to conduct research on products and services and to complete transactions, digital business opportunities are skyrocketing for enterprises across vertical industries.
HMG Strategy agrees on three core elements that are required for driving transformational change: people, processes, and technology. There are also technological components involved in achieving transformation, including the distinctive ways that CIOs are leading digital disruption. While each of these competencies is essential for success, processes are often the mysterious ingredients that harmoniously bind the other elements together.
The pace at which consumers are embracing digital is unprecedented. Consumers' extensive use of mobile and connected technologies is forcing companies to transform the enterprise into a digital business. According to Accenture's Technology Vision 2015 report, 62% of the 2,000+ business and technology executives it surveyed across nine countries and ten industries are investing in digital technologies, while 35% are comprehensively investing in digital as part of their overall business strategies.
There's lots of buzz about the abundant opportunities for driving digital transformation - and rightfully so. As external customers continue to increase their use of digital touchpoints to research and acquire products, companies need to be where their customers are and provide them with the types of experiences that delight customers and keep them coming back.
Thanks to their broad view of the enterprise, CIOs are able to identify opportunities for stitching together disparate organizational silos and functions that often can't be seen by executives and leaders working in the lines of business.
Last week, IBM reported another disappointing quarter, driving down the price of its shares and the Dow Jones Industrial Average. To be fair, the slide in the DJIA was also enabled by bad news from United Technologies, but Big Blue
One of the most metamorphic changes occurring in businesses over the past few years has been a shift to become more customer-centric. Customers have become empowered by their mobile devices and their use of social media, providing them opportunities to voice their opinions about the companies they do business with.
Bill Ruh is responsible for setting and leading GE's software services and solutions portfolio strategy, development and operations. He has more than 25 yrs. of industry experience in enterprise application integration and object oriented technology.
We live in a digital world where consumers are using a variety of channels to interact with the companies they choose to do business with. Digital communications isn?t just for consumer interactions. B2B companies continue to increase their use of digital channels to connect with clients and to conduct business.
Today’s technology executive plays a pivotal role in helping his or her organization respond to these forces of change. In essence, they serve as conductors to orchestrate the three pillars of organizational success – people, processes, and technology – and to draw upon their unique view of the enterprise to bring these elements into harmony.
© 2020 HMG Strategy, LLC. All Rights Reserved.
