organisation, inclusivity and digital transformation Flashcards
approaches to Digital Transformation (4)
- bold, tightly integrated digital strategies are most effective
- org leverage things like design thinking into their new offerings during crisis will see significant first-mover advantage
- new partners and platforms
- reinvent business model at its core
what makes up an organisation
- products & service
- people: customers, employer, employees
what is digital transformation
- what does it require?
- impacts?
- key drivers?
a process of rethinking one’s business model or business process considering the availability and affordability of digital technology
- requires coordination across the entire organisation - people, process, technology
- impacts whole organisation
- key driving motivation: chance to gain competitive advantages by improving customer experience
what is a business process
- key aspect?
a series of repeatable steps taken by a team or company to achieve some sort of business goal
- can refer to day-to-day operations or a set of activities to achieve a business goal
- key aspect: value it brings
importance of a well defined process
increased efficiency which may potentially bring in more value - it can be more customers or increased revenue
importance of understanding processes
- allow organisations to select suitable technologies
- correct data can be used
- increases number of channels where customer can interact with organisations;
definition of change
systematic starting over and reinventing the way a firm or a business process gets its work done
- improvements in critical measures of performance such as cost, service, and speed
principles of process reengineering
- organise around outcomes not tasks
- identify all the processes in an organisation and prioritise them in order of redesign urgency
- integrate information processing work into the real work that produces information
- treat geographically dispersed resources as though they were centralised
- link parallel activities in the workflow instead of just integrating their results
- put the decision point where the work is performed and build control into the process
- capture information once and at the source
digital transformation is not about tech then what?? (pre reading)
- figure out your business strategy before you invest in anything
- leveraging insider
- design customer experience from the outside in
- recognise employees’ fear of being replaces
- bring silicon valley start-up culture inside
digital transformation ecosystem (4)
- process
- people
- product
- technology
effects of change
- where?
- problems?
- not only within the organisation
- integration/dependency of activities across organisation can be potential bottlenecks for an organisation to successfully enhanced and implement digital transformation
how value can be created from Ecosystems (Mckinsey)
- 5 key value levers
- improved revenues from core products and services
- customer-paid new products and services
- merchant-paid platform usage
- third-party-paid data monetization
- increased operational efficiency
target customers and requirements / customer segregation
pre-requisites of digital solutions
customer demographic/geographic/psychographics/behavioural/special needs
what is social inclusion
process of improving the terms for individuals and groups to take part in society
- improving ability, opportunity and dignity of those disadvantaged based on their identity
what is financial inclusion
access to useful and affordable financial products and services that meet their needs
