Building a Roadmap for Digital Transformation
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Executives know their organisations must learn, adapt and evolve to keep up with the accelerating pace of change. As the digital age brings changing consumer behaviours and an explosion of disruptive technologies, the challenge is to continually stay relevant while operating faster, smarter and cheaper. To help leaders get on the front foot during digital disruption, Tom Zorde, Executive Advisor will take you through some of the avoidable mistakes, and often overlooked measures of a digital transformation roadmap.
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Building a Roadmap for Digital Transformation
- 1. Building a Roadmap for Digital Transformation @TomZorde Commercial Success in the Digital Age
- 2. “The future is unknown” @TomZorde
- 3. ECONOMIC IMPACT ON WA FROM DIGITAL DISRUPTION >$76 billion per annum by 2025 ~25% of WA’s gross state product Ref: 2015 Startup ecosystem preliminary report “The future is not a place that exists. It’s a place we’re going to build” @TomZorde
- 5. Influence People SkillsKnowledge “Leading change-ready people who challenge the status quo, is the leadership dare of the digital era” @TomZorde
- 6. “Get ready to change path more often” @TomZorde
- 7. Measure #1 Influence in your company ecosystem 𝑓(Reach * Engagement * Sentiment) @TomZorde
- 8. Measure #2 Relevant Knowledge 𝑓(Accessibility + Quality + Timeliness + Relevance) * Scarcity @TomZorde
- 9. Measure #3 Relevant Skills 𝑓(Expertise + Business Acumen + Leadership ) @TomZorde
- 10. Influence Knowledge Skills Learn Adapt Evolve @TomZorde
- 11. We can change culture if we change behaviours “Start by changing your own!” @TomZorde
- 12. @TomZorde Encourage Ideas Look ahead Experiment Improve Be Flexible Seek new ideas Recognise Innovation Foster Respects Keep Learning
- 13. Influence Knowledge Skills Learn Adapt Evolve Measure the right things Establish a culture of change and innovation Get awesome at strategic execution @TomZorde
- 14. Evolve @TomZorde Influence Knowledge Skills Self Service Pay as you go Tailored Experiences Self promoting Staff work on the business 24-7-7 Operation Open Innovation Growth & Opportunity
- 15. Thank You @TomZorde Commercial Success in the Digital Age Tom@Zorde.com +61 405.700.520 Building a Roadmap for Digital Transformation
Notes de l'éditeur
- What a great turnout, and what great food. Morning tea, lunch, desert, and now afternoon tea. Given the amount of food being digested right now my challenge is to keep you all awake, or in some people’s cases, to wake you up. Perhaps I should have called this presentation Building a roadmap for digesting transformation instead of digital transformation. Hopefully by the end of today you will have digested not only the great food but also some food for thought around digital transformation. I’m going to share some knowledge and experience I’ve gained in the field of digital transformation. Over my 20 year career I have come to be a great believer in the sharing economy. Not just because as it is better to learn from others mistakes before making your own. But because the value of the knowledge we share, multiples dramatically the more people can consume it. A study from University of Buffalo shows that the benefits of giving up patent protection and sharing your ideas actually increases the size of the market through further innovation and IP enhancement. Thereby offsetting lost market share that a patent might protect. Plus as we often see, in a digital world where services come and go, what good are national patents To promote innovation companied like Tesla have shared their patents. Google, Amazon and Facebook shared the world’s most energy efficient data centre design with the Open Compute Project. Sharing simply makes a lot of sense to me. So today, the knowledge I’ve gained from trial, error and deep reflection will be shared with you. It is up to you what you do with it, but I do encourage you to snap a photo or jot down a note if you see something interesting. Reflect on it when you leave today and if you you’re game to gamble a cup of coffee for some deeper insight contact me for a chat. But let’s get started. I won’t talk you through a history of my background because a google search for Tom Zorde can sort that out. And to be honest, I really want to get you all focussed on the future. Why? Because the future is where you’re going to spend the rest of our life.
- FUTURE IS UNKNOWN I don’t know about you, but topics on the future always get my attention. All sorts of possibilities and amazing things can be dreamed up. There are no limits to what can be. So what will the future be like in 5 years? What does it look like around the corner for Western Australia? This is one of those questions that keep industry analysts on their toes. It is also one of the questions that executives and business owners need to answer. Coincidentally I’ve noticed that most government agencies, companies and not for profits all seem to have the same answer Anyone care to guess what the response is? [CLICK] The answer I’m hearing is “we don’t know”.. “the future is unknown” There are three common ways organisations tend to deal with this: 1) By copying the leaders in their industry – This is the sort of risk averse approach where the board agrees that “change is certain, so let’s wait for someone else to first and copy them”. The problem by copying the competitors ahead of you is, you’ll only end up looking like their backside. The 2nd) Is where companies go numb, and look for excuses like “we’re waiting for new leadership will tell us what to do” And then there is the 3rd) approach, don’t think just do. Where the CIO and the CMO are forced to bang their heads together and “do something digital like get on the cloud, build an app or a social media campaign” because share holders need to see a digital footprint of our brand. Of course all of these don’t achieve much towards a digital transformation. “No point doing things without thinking about them, and no point thinking about things without doing them.” Although the future is unknown. It is a future where change is a certainty.
- FUTURE IS ONE WHERE CHANGE IS A CERTAINTY A future where every person and every thing is connected digitally, there will be no stable state. New challenges can sprout from anywhere. The more connected services on the web, the more the whole digital network grows in valuable. We know that network value is relative to the number of connected nodes and we know that the cost of connecting nodes is continuing to get cheaper. This is the intersection of Metcalfs law with Mores law, and it has created a tipping point which means the rules that served us well in the past no longer apply. The network of products, services, suppliers, distributors, and consumers is growning into one big digital ecosystem. An ecosystem that feeds on the old parts to give birth to the new. You could say the future will be born from the deadwood products and rotten services of the past. [CLICK] For Western Australia, Digital Disruption is a certainty too. There is a large appetite for digital disruption here. I know this because I started the Internet of Everything Perth meetup community just under a year ago and we have exploded in growth to over 500 people. It’s a very exciting time to be in technology. Digital Disruption is real but as I tell many of my clients. The disruption out there is not very mature yet. Most of it is companies that have taken a manual process and automated it, improving the client experience by cutting out the middle man. The real disruption is yet to come, and you could be that disruptor. Because remember, [CLICK] “The future is not a place that exists.. It is a place we are going to build”
- 3 ASSETS TO BUILD FUTURE So what are you going to build for WA’s future? With an unkown future, envisaging multiple likely possibilities and preparing for all of them means more complexity. But managing more complexity doesn’t have to be a daunting task. You need a digital transformation roadmap that get’s your company focused on the right assets for transformion. So let me share with you my view of the assets for digital transformation.. [CLICK] INFLUENCE What influence do you have over your market? Do you have the attention of those who control your demand and supply? How about those who control regulatory legislation are you prepared to exploit the gaps? Your ability to influence your company’s ecosystem is a transformation asset. [CLICK as said] KNOWLEDGE What knowledge does your organisation have that makes you unique. You ability to make fast, evidence based decisions is what will help you stay agile to respond to change. [CLICK as said] PEOPLE SKILLS Of course knowledge is not enough. You need people with the skills and courage to apply it. The right talent is a foundational asset of a digital company. But remember, skills is not just expertise it also requires a change-readiness attitude. [CLICK as said] “Leading change-ready people who challenge the status quo, is the leadership dare of the digital era” Take a moment to absorb that nugget.
- 3 ASSETS TO BUILD FUTURE So what are you going to build for WA’s future? With an unkown future, envisaging multiple likely possibilities and preparing for all of them means more complexity. But managing more complexity doesn’t have to be a daunting task. You need a digital transformation roadmap that get’s your company focused on the right assets for transformion. So let me share with you my view of the assets for digital transformation.. [CLICK] INFLUENCE What influence do you have over your market? Do you have the attention of those who control your demand and supply? How about those who control regulatory legislation are you prepared to exploit the gaps? Your ability to influence your company’s ecosystem is a transformation asset. [CLICK as said] KNOWLEDGE What knowledge does your organisation have that makes you unique. You ability to make fast, evidence based decisions is what will help you stay agile to respond to change. [CLICK as said] PEOPLE SKILLS Of course knowledge is not enough. You need people with the skills and courage to apply it. The right talent is a foundational asset of a digital company. But remember, skills is not just expertise it also requires a change-readiness attitude. [CLICK as said] “Leading change-ready people who challenge the status quo, is the leadership dare of the digital era” Take a moment to absorb that nugget.
- FOUNDATION BUILDING BLOCKS OF TODAY Your foundational building blocks for creating your future are going to be capabilities that help you manage your company’s influence, knowledge and skills. [CLICK as said] These will be important for you to remain nimble and change paths often. Because changing path is going to be the new norm. But take measured leaps. You will need to understand the state your change enabling assets is in. You will need to have a way to measure them This is the first step in preparing for digital transformation.
- INFLUENCE MEASURE Your influence measure is an external measure of your company It will identify where your company’s brand, products and services sits in your ecosystem. [CLICK] Your influence will depend on how well you understand the following: 1) What do your supplier, vendors & partners value? 2) What do your customers value? 3) What do your investors & regulators value? You’re influential if you are able to find synergies between these and connect them with what you value. Who in your organisation is on top of this? I’d like to share a simple formula with you [CLICK] Your measure of influence will be impacted by the extent of your Reach – how many people can you reach with your agenda, The engagement of the people in your ecosystem is a measure of the involvement you’re getting. While your ecosystems sentiment of your company is a reflection of their experience with your brand. By understanding and measuring your influence you will have immediate improvements. Improved influence will help you attract talent, garner support and break down commercial barriers.
- KNOWLEDGE MEASURE The second asset for your digital transformation is Knowledge. Hands up if you have an IT or Enterprise Architecture principle that says something like “Information is an Asset”? Well in many organisations the contents of the stationary cupboard is managed more like an asset than information is. Managing information and gathering insight is at the core of every digital business. Your ability to influence your ecosystem improves when you have the right intelligence at your disposal. That’s a no brainer. So what I propose is “Start measuring the value of your information” [CLICK] Information is an asset when it produces relevant knowledge. So effort on information management it is going to be part of your digital transformation roadmap. The value of information can be measured like any other asset. A simple formula that can get you started is this one: 5 variables can be measured and improved over time. Accessibility – This is heavily underestimated. If people have to jump hurdles to access information, chances are it wont get used. It’s digital, it flies through the air, you can catch it on your device any time, anywhere, Don’t make accessibility harder than it needs to be! Quality – Spend some effort on making sure your information collection points clean and validate your information. Start by identifying the collection points. Effort here will increase the value of your digital assets. Timeliness – this is one of contextual relevance. If your information is fresh it by default more reliable. If you can collect it in real-time don’t opt for a nightly batch job. Contextual Relevance – If information has meta data of geo location, a timestamps and who collected it it now has greater relevance. Scarcity is an indicator of how rare the information is. Can anyone collect this information or is it hard to find? Technologies such as Internet of Things will help you grow your big data lake with contextual relevant and timely data Big Data Analytics and Algorithms will help you refine insight and enrich your data quality Cloud Technologies will help you scale your processing and storage and enable greater accessibility. You can now see how these technologies relate to your digital transformation. But they won’t have the intended return on investment until you’ve got some foundational measures down pat.
- SKILLS MEASURE Our skills are an extension of our ingenuity and use of tools at our disposal Our ability to influence and create value will require continuous focus on attracting and retaining skills for the digital age. Just like your knowledge and influence assets, the skills asset should be measured and grown. Expertise in the toolsets of the future are going to be critical. You can grow them within or you can attract them to you. But either way without them you will be unable to digitally transform. I have again proposed a little formulae for measuring your skills. [CLICK] Technical expertise not just in your industry, but in knowledge management, analytics, change management and design thinking are just a few. Once you identify your influence and knowledge measures it will quickly reveal your skill gaps. Business Acumen includes communication, decision making, ethics, cross cultural and virtual collaboration, situational awareness. There are lots of competency frameworks that can help you assess these. Find them and use them. Leadership –I have already mentioned the leadership dare of the digital age. Well, everyone on you organisation will need leadership skills. Make sure role responsibility and accountability is clear and use coaching and mentoring to grow the leadership measure.
- Once you have a basic handle on your foundation of Influence, Knowledge and Skills you can focus on your actual transformation journey. The journey to create your company’s vision of the future. In a future where the only certainty is change. Your next layer is going to need to establish company Agility to allow you to respond to change in a nimble and flexible way. [CLICK] When the experts say every business will need be a digital business what they mean is that you need to operate like a digital business. Don’t be confused that digital business is about clever innovative ideas. Being a Digital Business means you need to solve an actual customer problem, you can do this with digital first. Operating as a digital business means you must learn to operate is a way that your people, processes and technologies help you continuously Learn, Adapt and Evolve. This will require you to experiment and adjust on the fly. The point of fail-fast is related to experimentation in the quest of progress. Progress in learning new knowledge, Progress in influence, progress in skills growth. Progress is made in fast and small incremental steps. But without a guide and a measure you could quickly get lost in the forest so to speak. Get the foundation right and establish a change culture and the rest will follow.
- CHANGE CULTURE I won’t go on too much about change culture. But culture is driven by behaviours. And if you want to change peoples behaviours [CLICK] Start by changing your own. If course smart company boards have realised this and you will start to see more Digital IQ at the table.
- BEHAVIOUR Look ahead, not behind. The past is much less relevant than the present for predicting the future in the digital age Leave some slack for experimentation, whether spare time or seed money. Look for improvements, not critiques. Encourage collaboration toward common goals. Be flexible. Stress substance over form, action over calendar. Allow for unplanned opportunities. Open strategic discussions to different people with different ideas. Accept that stretch goals mean some things won’t work. Avoid public humiliation; promote public recognition for innovative accomplishments. Foster respect for people and their talents. And know learning is an imperative. Everyone, even the most experienced, must be open to learning Encourage new ideas, especially from below and from unexpected sources.
- So your roadmap starts with Measuring the right things [CLICK] Followed by establishing a change culture [CLICK] Next you will need to focus on execution to achieve the goals that are specific to your organisation. There is a really simple test to see how good your strategic execution is. Ask your boss how many past strategies they’ve got in their drawer. You might wonder how some organisations are really good at execution. The secret is actually in your foundation. 1) You need to set goals that have a meaningful outcome. They must solve a real problem for a real customer. 2) You need to expect change and we’ve talked about that. Don’t be afraid to stop things, change path and re-plan. 3) Make sure you’re measuring your progress in terms of impact to the things that matter. Influence, Knowledge and skills.
- So let’s imagine the type of future you can build Transformation assets at the heart. Wrapped by a Change culture [CLICK SAID] You competitors will see what makes you different. They’ll call you a digital disruptor And they’ll likely try to copy you and fail.
- Any Questions