How do you turn your organization into a digital-first organization? In this episode, David and Justin focus on five vulnerabilities firms face and how you can turn those vulnerabilities into digital strongholds. Here are the notes from the show:
- In the case of business, rather than trying to go digital in robust areas all at once, it is wiser to start with the vulnerabilities your products and services may have, and build first the capabilities to respond to those areas where the other companies could exploit these weaknesses.
- Digital transformation starts in a very analog place: solving problems for your customers and understanding the impact to your business model
- We referenced a popular model from McKinsey regarding digital transformation. It features five key dimensions:
- Undistorted demand
- Unconstrained supply
- Create new value propositions
- Reimagine business systems
- Hyper scale platforms
- At the core of all of this digital disruption, is the metaphor of organizations building a spinal cord for their organization that will interconnect devices, people, products, services, suppliers, competitors together in an interconnected reality.