SBTC, ETR: 2 mins
Key Challenges.
For a business to be successful today, what can they do to ensure they are on top of or able to stay ahead of the game?
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The digital economy is driving significant change for businesses
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Worldwide government policy is struggling to keep up with the digital economy
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The most pressing concern for business is how they embrace digital technological processes and integrate these into day-to-day operations
1) Developing a digital business strategy.
Develop a three-year vision of the future for the business including how it will aim to use digital technologies to reduce waste and inefficiencies, do more with less, increase productivity, delight the customer, enter new markets.
Create a Blueprint of the business based on the vision as it will help to identify what needs to be done to achieve the overall objective. A simple approach from Managing Successful Programmes uses the POTI Model for blueprint design.
2) Understanding the impact of changes on the business.
Develop a view of the business including changes from the blueprint. Analysing these changes can be supported by the use of templates such as a business model canvas or for a more detailed view using this free process modeling tool for mapping processes within the business.
3) Identifying existing and new technologies and how you can use them.
This is the easy bit. Using insights from the business modeling identify technologies that will support the changes. Seek solutions from not only your own but alternative sectors or markets.
4) Having a robust plan in place.
To help introduce the changes into the business and minimise
A list of tasks can be used but for a more detailed plan use of free project management planning tools can help breakdown the tasks and the allocation of resources.
Mr T Says:
To compete in the fast-moving digital economy, as well as changing the way businesses delivers products or services we also have to consider changing our attitudes to seeking sources of support. If you are sick you go to see a doctor. If the business is sick where do you go?
Businesses will need to look to fresh eyes and ideas to innovate and create new ways of working and thinking using the new tools of business. Those who willingly embrace the change that technology brings will be the ones who benefit over the long term.
If you are not sure where to start