Business transformation and (positive) digital disruption is everywhere. Yawn, yes we know, you’ve already gone to sleep. These terms have been over-used, over-hyped and hackneyed into a clichéd quagmire of unimaginative hogwash.
What transformation really means
Is it possible to talk about business transformation and stay awake? Possibly, but only if we can uncover what transformation really means today in 2016. So deep breath then…
- Business transformation describes the operational steps a firm takes to apply modern connected web, cloud, mobile, social, data analytics etc. technologies to do what it used to do before, but in a new faster and more efficient way. Essentially, this is a case of using new digital technologies to perform old business functions.
- Business transformation can also describes the operational steps a firm takes to enter completely new markets. This act is sometimes (but not always) facilitated by the actual presence of digitization. Intel switched from memory chips to microprocessors, IBM switched from desktops to services, supermarkets starting to offer credit card services and so on.
It is not of course an a) and b) or 1. and 2. conversation. There is a c) and most of the rest of the alphabet to finesse this argument in more complete terms, but this is a start.
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