The “digital” movement is causing major disruption across all industries and the workforce everywhere.
What is digital disruption?
According to the SAP Center for Digital Leadership, “Digital disruption is the change that occurs when new digital technologies and business models affect how an organization creates and retains value.”
How is it disrupting?
This value can be seen as the digital ecosystem shifts from translating data into insights, to leveraging data to drive actions. All around us, we are being disrupted by Big Data, the Internet of Things (IoT), machine learning, blockchain, analytics, and digital intelligence.
We are now at a significant tipping point, where technology is no longer the enabler, but the influencer. Organizations must rethink their business strategies and workforce needs in order to stay relevant and competitive.
For the first time, organizations are being forced to break down silos (e.g., business, finance, procurement, human resources, IT, etc.) and come together to create a unified operating model with enterprise-level synergies across people, process, and technology.
How are organizations adopting this shift?
According to a digital business study conducted by MIT Sloan Management Review in 2016, only 44% of respondents stated they were adequately preparing for disruptions due to digital trends.
In order to mitigate the digital-readiness risk, organizations need to adopt the following:
- Digital strategy to articulate the short-, mid-, and long-term direction, outcomes, and value to the business.
- Digital mindset to shift the culture and behaviors of the organization and workforce through transparency of expectations and outcomes.
- Digital principles to guide integrated decisions across people, process, and technology.
- Digital experience to deliver continuous engagement and connections to individual stakeholders.
- New or optimized business models with the right resource and solution capabilities to execute the digital strategy.
- Manage technology innovation to influence and enable the future of work and digital transformation.
Get more insight on Diving Deep Into Digital Experiences.