SBTC, ETR: 2 mins
Crafting a Digital Strategy.
There are many business owners and leaders out there thinking where do we begin with this “digitization” thing, what does this mean for the business and how can the impact be quickly assessed?
A simple way to gain an overview of the business is to use a systems model to replicate the mechanics of a business .
Supplies/orders are input, processes turn them into a product or service which are output/delivered to customers in the market, a control function manages the system/business.
Building Scenarios.
Scenarios provide an excellent way of quickly testing ideas/strategies at low to no cost.
Start by mapping the business at a high level, onto the four areas highlighted in the model (Tip: Start with the output and work backward).
On completion, hypothesize the following scenarios and record comments on the outcomes.
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What solutions can we introduce to improve the inputs/supplies and what will the impact be on the process/production/service?
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What solutions can we introduce to improve the process and what will be the impact on Output/Market presence?
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What solutions can we introduce to improve output and will the business be able to manage/control the feedback/system?
For each scenario identify and apply digital solutions (tools/techniques) to the scenarios and visualize the changes to the business.
This quick-fire approach can help create a list of strategies to take forward for further assessment (try before you buy).
The exercise should only take a couple of hours and if possible with people from different parts of the business to take advantage of the organisational logic within the business.
For a more detailed assessment, the next stage could involve developing a digital transformation “business model canvas”.
For more tools and techniques see the SERVICES pages on our website.
Mr T Says:
Going digital can be a costly ongoing investment for businesses and the key has to be to get as much out of the investment as possible. That’s right, increase the ROI.