Digital readiness webinar

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Digital readiness

Digital readinessTom VoirolGlobal Head of User Experience

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Mastering digital change webinar seriesPreviously

DIGITALPSYCHOLOGYDEBORAH KO

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Mastering digital change webinar seriesNow

TOM VOIROLMAURICE QUEKGLOBAL HEAD OFUSER EXPERIENCEDIGITAL STRATEGIST

PRESENTERTOM@READINGROOM.COMFACILITATORMAURICE.QUEK@READINGROOM.COMDIGITALREADINESSTOM VOIROL

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ContentsDigital readiness?The pillars of digital readinessBusinessMarketResourcesMaking it sustainableQuestions

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Digital readiness?

What do we mean by digital?5

What do we mean by digital?

Digital?

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The adoption of SMACIT (social, mobile, analytics, cloud, Internet of Things) technologiesWhat do we mean by digital?Digital?Source: http://cisr.mit.edu/research/current-projects/designing-digital-orgs/

Implies Web7

a cost centreDigital is notDigital?

something the IT department doesDigital is notDigital?

a tactical channel in the marketing mixDigital is notDigital?

all about the customer experienceDigital is notDigital?

just relevant to technology companiesDigital is notDigital?

just relevant to B2C companiesDigital is notDigital?

just relevant to companiesDigital is notDigital?

Relevant to B2B, governments, not for profits14

a strategic competencyDigital isDigital?

Ultimately, digital shouldnt be something you do in addition to doing business, it should be how you do businessReading Rooms take on digitalDigital?

Readiness?

Digital leaders outperforming marketReadiness?

Technology-enabled initiatives in: Customer Engagement Internal OperationsLeadership capabilities including:VisionGovernance, engagementSource: Cap Gemini: The Digital Advantage How digital leaders outperform their peers in every industry

Digital leaders outperforming market

Revenue GenerationProfitabilityReadiness?Source: Cap Gemini: The Digital Advantage How digital leaders outperform their peers in every industry

Digital face / digital bodyReadiness?

The pillars of digital readiness

Digital BusinessDigital MarketDigital ResourcesProcessesStructureLeadershipStrategyCompetitionPartnersCustomersProductsTechnologyContentMoneyPeopleDigital Native Organisation

Digital businessThe pillars of digital readinessDigital BusinessProcessesStructureLeadershipStrategyDigital MarketDigital ResourcesStrategyCompetitionPartnersCustomersProductsTechnologyContentMoneyPeopleDigital Native Organisation

StrategyDigital businessDigital BusinessProcessesStructureLeadershipStrategyDigital MarketDigital ResourcesStrategyCompetitionPartnersCustomersProductsTechnologyContentMoneyPeopleDigital Native Organisation

Business strategy

Digital business / Strategy

Digital strategy

Digital business / Strategy

Digital-permeated business strategy

Digital business / Strategy

Dont worry about developing a strategy for social, mobile, cloud, or any other technology. Develop a strategy for succeeding in the digital economya purpose that leverages your unique capabilities and responds to market opportunities. Then grab every technology that takes you there.Digital business / StrategyJeanne W. Ross,Director of the Center for Information Systems Research (CISR) MIT Sloan School of Management

Case studyDigital business / Strategy

Provide outstanding service every day, one customer at a time.We work hard to make decisions in the best interest of our customers and those serving them.Nordstroms missionDigital business / Strategy

Nordstrom 2004-2014New POS system allowing salespeople to track individual customer requests and needsLaunch of an innovation lab, creation of Nordstrom appsIntroduction of mobile checkoutAcquisition of cloud-based mens personalised clothing serviceTheir employees are now armed with information about what a customer has bought in the past, what they like, an what they shopped for but could not findMobile checkout makes it easier for any employee to see a customer through the payment process and thank them, rather than sending them to a cash registerDigital business / Strategy

Nordstrom hasnt used SMACIT to develop a digital business model they have further digitized their business model, and pursued their purpose, using SMACITDigital supporting strategy & missionDigital business / Strategy

LeadershipDigital businessDigital BusinessProcessesStructureLeadershipStrategyDigital MarketDigital ResourcesStrategyCompetitionPartnersCustomersProductsTechnologyContentMoneyPeopleDigital Native Organisation

Leadership in digitalTrue digital leaders make use of multiple digital avenues to accumulate, filter, and disseminate informationA digital-permeated business strategy must be carried by the C-suiteOnly a digitally-savvy C-suite has the credibility to implement digital in a strategic way. Consider training / workshopping at the top levelLeadership does not just happen at the top. Consider structures that support leadership where it occursTop management can lead the brand from the front in digitalDigital business / Leadership

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Case study

Digital business / Leadership

Dharmesh Shah, Founder and CTO of HubSpot, inbound marketing software company, issuing IPO this year, valued at ~$500M34

Case study

Digital business / LeadershipHas 474,000 followers on LinkedInRuns a 456,000-member LinkedIn group for entrepreneursRuns the OnStartups Facebook group with 154,000 membersHas 253,000 followers on Twitter

Dharmesh Shah, Founder and CTO of HubSpot, inbound marketing software company, issuing IPO this year, valued at ~$500M35

Its not its size, its how you use itDuring a recent hiring push at HubSpot, Shah tweeted about the companys need for talented engineers and quickly received referrals for hundreds of candidates, several of whom he hiredWhile wrestling with an error-prone program for a new product, he asked his online followers for help. Within hours he received many suggestions, and one person provided instructions for debugging the programDigital business / Leadership

Digital networking by leadersFew leaders understand how they can use their networks to gather information and wield influence. Focus on:ReputationProvide high quality, immediately applicable content that helps your audiences be better in their jobSpecialisationBe known for something specific. In Shahs case technology and entrepreneurship. Focus sharply on your topicsNetwork positionBecome a bridge between otherwise unconnected groupsDigital business / Leadership

StructureDigital businessDigital BusinessProcessesStructureLeadershipStrategyDigital MarketDigital ResourcesStrategyCompetitionPartnersCustomersProductsTechnologyContentMoneyPeopleDigital Native Organisation

Structure is #1 obstacle to digital adoptionDigital business / Structure

Source: The digital tipping point: McKinsey Global Survey results June 2014

http://www.mckinsey.com/insights/business_technology/the_digital_tipping_point_mckinsey_global_survey_results

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Learn from start-upsFocus on tasks, rather than roles or positions in a hierarchyEnable agility by eliminating anything that gets in the way of value creationUse small, multi-disciplinary teams in a fractal or nested structureEmphasise autonomy and responsibility among your workersBuild a customer-centric structureHierarchy is only one aspect. Consider the networks, communities, autonomous teams, and skunkworks that digital technologies enableDigital business / Structure

Hierarchy and networkDigital business / Structure

Case study

Digital business / Structure

UK direct banking arm of HSBC42

First DirectPhone and internet banking onlyBrand is built on top-notch customer serviceThis is why people switch to themContact centre restructure:No IVR systemCall leads directly to human 24/7Removed knowledge silos Trained up all staff in most topicsEmpowered CC staff with digital tools and informationDigital business / Structure

First DirectDigital business / Structure

ProcessesDigital businessDigital BusinessProcessesStructureLeadershipStrategyDigital MarketDigital ResourcesStrategyCompetitionPartnersCustomersProductsTechnologyContentMoneyPeopleDigital Native Organisation

Adaptability

Digital business / Processes

Leon C Megginson

ProcessesDevelop the capacity to respond to change rather than prematurely optimise existing operationsRe-engineer processes around digital interactions, both internally and with clients and suppliersAdopt agile methodologies for business and project management:Build change right into your processesHave processes in place to sustainably roll out process changes after trialsEmpower staff to recognise deficiencies and improve themDigital business / Processes

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Using agile methods for process redesignAdaptabilityIterative approach, analyse KPIs frequently, adapt as requiredTeamworkCross-functional teams, with unique and applicable skill setsFocusWork in short sprints with rollout after each roundLearn from each round and apply learningsCommunicationEmphasise open and efficient communication, track progress on prominently displayed chartsDigital business / Processes

Case study

Digital business / Processes

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CodelcoDigital Business / ProcessesLargest copper producer in the world, 18,000 staffChilean state ownedTook strategic look at future of miningCreated Codelco Digital in 2003Both operational and strategic objectives: drive initiatives in mining automation and support the CEO in developing, evolving and communicating a digital visionToday, four mines in Chile are