Top 5 Digital Transformation Strategy Myths
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Myth 1: Implementing Technology is not the same as Digital Transformation Myth 2: Creating Operational Efficiency leads to Digital Transformation Myth 3: Improving Digital Marketing creates a Digitally Transformed Organisation Myth 4: All Digital Transformation Strategies are Good Strategies Myth 5: Agile, Lean, Sprints are Digital Transformation Strategy Planning Techniques.
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Top 5 Digital Transformation Strategy Myths
- 1. Niall McKeown @niallmckeown © 2016 all rights reserved Ion Technologies LTD Top 5 Digital Transformation Strategy Myths
- 2. The word “digital” is a synonym for the pace of change that’s occurring in today’s world, driven by the rapid adoption of technology. “Transformation” in this context is: How an organisation is built to change, innovate and reinvent rather than simply enhance and support the traditional methods. WHAT IS DIGITAL TRANSFORMATION?
- 3. Strategy creates competitive advantage People and a culture of innovation sustains it Technology & Communications is the means by which it is delivered WHAT WE BELIEVE
- 4. MYTH #1 IMPROVING IT SYSTEMS IS DIGITAL TRANSFORMATION
- 6. MYTH #1 DIGITAL TRANSFORMATION IS ABOUT TECHNOLOGY “Digital transformation is fundamentally not about technology but about strategy. Although it may require upgrading your IT architecture, the more important upgrade is to your strategic thinking.” The Digital Transformation Playbook: Rethink Your Business for the Digital Age (Columbia Business School Publishing)
- 7. MYTH #2 IMPROVING OPERATIONS IS STRATEGIC DIGITAL TRANSFORMATION
- 8. MYTH #2 IMPROVING OPERATIONS IS STRATEGIC DIGITAL TRANSFORMATION
- 9. MYTH #2 IMPROVING OPERATIONS IS STRATEGIC DIGITAL TRANSFORMATION
- 10. “Strategy is about organisational change” The opening line of “What is strategy” Published HBR 1996 MYTH #2 IMPROVING OPERATIONS IS STRATEGIC DIGITAL TRANSFORMATION
- 11. MYTH #3 IMPROVING DIGITAL MARKETING IS DIGITAL TRANSFORMATION
- 12. DIGITAL TRANSFORMATION COMMUNICATION Communications Leadership TECHNOLOGY Rapid Solution Builders LEADERSHIP Leading Step Change MYTH #3 IMPROVING DIGITAL MARKETING IS DIGITAL TRANSFORMATION
- 13. MYTH #4 ALL DIGITAL TRANSFORMATION STRATEGIES ARE GOOD STRATEGIES
- 14. MYTH #4 ALL DIGITAL TRANSFORMATION STRATEGIES ARE GOOD STRATEGIES
- 15. “Strategy comes from identifying one or two critical issues in the situation – the pivotal points that can multiply the effectiveness of effort – then focusing and concentrating action and resources on them” MYTH #4 ALL DIGITAL TRANSFORMATION STRATEGIES ARE GOOD STRATEGIES
- 16. Strategy Kernel Diagnosis Coherent Action Guiding Policy Incoherent Action MYTH #4 ALL DIGITAL TRANSFORMATION STRATEGIES ARE GOOD STRATEGIES
- 17. MYTH #5 AGILE, LEAN, SPRINT, PORTERS 5 FORCES, PESTEL…CREATE DIGITAL TRANSFORMATION STRATEGIES
- 18. MYTH #5 AGILE, LEAN, SPRINT, PORTERS 5 FORCES, PESTEL…CREATE DIGITAL TRANSFORMATION STRATEGIES
- 19. D efining N ew Com petitive AdvantageTesting Assum ptions Creating Solutions D elivering Technology MYTH #5 AGILE, LEAN, SPRINT, PORTERS 5 FORCES, PESTEL…CREATE DIGITAL TRANSFORMATION STRATEGIES
- 20. Exclusive Niche or limited Audience Mass MarketMainstream Warm (Comforted) Mild (Informed) Cold (Rational) Customer Volume How Customer Perceives Your Business 6 5 7 3 1 2 4 8 PrimeAuthority AttentionAdvocacy All Media Bought MediaOwned Media Earned Media Hot (Passionate) DIGITAL TRANSFORMATION JOURNEY PLANNER
- 21. Exclusive Niche or limited Audience Mass MarketMainstream Warm (Comforted) Mild (Informed) Cold (Rational) Customer Volume How Customer Perceives Your Business 6 5 7 3 1 2 4 8 PrimeAuthority AttentionAdvocacy All Media Bought MediaOwned Media Earned Media Hot (Passionate) Start Here > < Destination DATA DRIVEN STRATEGY CREATION
- 22. 7 PRINCIPLES OF DIGITAL BUSINESS STRATEGY DIGITAL TRANSFORMATION FRAMEWORK 4 5 6 7 3 $ 1 ? 2 7 PRINCIPLES Know yourself ResourcesMarketplaceCustomers Market position Engine of growth Tactics
- 23. Yourself Customer Market Resources Diagnosis Strategic Ambition Competitors Proposition Force=ma Volume Time Talent Cash 1 3 2 4 Task Intent Unique Value Proposition DATA PROVIDING EVIDENCE OF COMPETITIVE ADVANTAGE
- 24. Yourself Customer Market Resources Diagnosis Strategic Ambition Unique Value Proposition Competitors Proposition Force=ma Volume Time Talent Cash 1 3 2 4 Mile Marker Projects Tasks Task Intent ✓ ✓ ✓ ⎋ ⎅ ⎆ ⎈ ⌘ ⎙ ⌰ ⍾ ⍵ ⍟ ⎃ ⌮ ⎂ ⎃ ⌭ ⎃ ⎃ ⌮ ⎂ ⎃ ⌭ ⎃ ⎃ ⌮ ⎂ ⎃ ⌭ ⎃ ⎃ ⌮ ⎂ ⎃ ⌭ ⎃ 🕒 👤 ＄
- 25. Niall McKeown @niallmckeown © 2016 all rights reserved Ion Technologies LTD Top 5 Digital Transformation Strategy Myths