Digital transformation by digitalization and automation or being extinct, be the focus topic for the post. Market force is always exist, and regardless how big you are at the success time you are, but when the force is change, and you are resistant to change, your enterprise will be extinct, as you can see from the history and so many cases you can study and related with, across all the sectors, include the public sector government.
As a quick recap, digital transformation (DT) is not merely about applying IT /technology for the business. It include how to mobilizing modern technology in the market and use it in your business model, no able to purely in the modernization, but in revamp the best form that related to current and future, as technology forces and market change shape the dynamic of the market, and create new favor innovative business model over the traditional, conservative and obsolete business model.
Every successful businessman is fully aware of the dynamic nature of the market. Past success, no matter how glorious it is in the past, how big you are due to past success, does not bring in any competitiveness or competitive advantage when the new market and forces are changed.
The new challenger may not come from within the industry, but it can come from the industry out from the existing market, they are providing a new business model that existing players do not be interested in or overlook for the potential for it. Classic examples are everywhere, here just quoted Apple innovative smartphones that create completely new products at that time, and make the mobile phone industry fall in just a few years. Same came for the new tablet known as iPad at that time, invent new 3rd place and the device for smartphone and computer. Follow with the smart watch wearable technology that provides modern technology and extinct the old watch industry. The example is a lot, you can relate to what you come across.
The bigger the enterprise, such as a successful corporation, it becomes very hard to initiate any change program, despite everyone being aware that change is needed, as the market is undergoing endless change. You either be the one bringing in the value in the market, or the market will shift to whatever product at that time to provide better value for them, either in the form of higher quality, lower cost, better functionality or benefits.
For the past 2 years, COVID-19 pandemic, endemic, every enterprise is reacting based on response, recovery and restart, same apply to the government sectors. If your business model has yet evolved into digital transformation (DT) and still stays into the old fashion way for doing business. The one that extinct you is not market competition, but within your own enterprise. Resistance to change is like poison, it is so toxic to become the norm in the enterprise, reflected into the company way of doing business. Everyone is starting to ignore market forces or underestimate them. One mighty giant example is the Kodak Film, so big and regardless of having so many talented employees, heading to shrink. Same goes for Nokia from market leader in the mobile phone to losing it just within a few years time.
New generation of the world needs a new mindset, to understand your market is always the first step. Understanding from the current customer’s problem they encounter is fundamental. What they like about your product, what they dislike and what you do about them? improve it or just ignore them? that business mentality alone already sets apart what will happen for the next 10 years. Are your top management really know about the customer, or are they staying so remotely and understanding merely via the sales report and forgetting about the customer, the very fundamental reason the business is founded and created for? to provide products and services that address the customer’s needs and wants.
Technology keeps changing, and the speed will be accelerated, but the very fundamentals for a sound business remain, be market focus, are you from the top down? When the top management is no more involved, at least involved in actively serving the big customers for the said business directly and indirectly, for sure, the rest will follow.
Are your top management and business leaders putting digital transformation (DT) first? or did they put it in action and behavior? If you are not the one to steer it, not the one knowing where the business to be going and to what direction to be, how do you want to navigate in this sea of change? you need to know where you are heading, so you can strategically mobilize resources to invest and develop core competency you believe to be needed in the future marketplace. Same principle goes for national management, the budget is allocated enough for the development of the future? or mostly to repay the interest for the high debt interest? Future of the nation’s strengths comes from the talent and elite. The next generation is not about huge labor, but more on knowledge workers who bring in value, someone who knows and capable of continuing value added to the enterprise and capable of unlearning the past, learning the new skill that is needed.
E-SPIN Group in the enterprise ICT solution supply, consultancy, project management, training and maintenance for corporation and government agencies did business across the region and via the channel. Feel free to contact E-SPIN for your project requirement and inquiry.
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