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Effective Executive Journal

Leadership and Digital Transformation: Building Strategic Conversations

Article Details

Pub. Date	: Dec, 2020
Product Name	: Effective Executive
Product Type	: Coaching and Mentoring
Product Code	: EECM21220
Author Name	: Stephanie Jones and Jim van Hulst
Availability	: YES
Subject/Domain	: Management
Download Format	: PDF Format
No. of Pages	: 8

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Abstract

What is the road map for a change leader transforming a business from traditional manufacturing into a digital company? Easier said than done. Here we provide contextual concerns and identify possible steps, using a framework which has proved to be successful in many businesses. It is widely agreed that there is a need to continually transform any business as costs are always under pressure, and one way to minimize these costs is to look for technological answers. There is always risk in the transformation, in making the most appropriate investments in leaders, machines, and tools. Next to the costs of these assets is the need to keep your customers buying from you-whilst their expectations are shifting. They expect substantially more value from what they purchase, and a flawless customer experience. This is the new challenge for strategic leadership, and it is unlikely to stop here.

Description

Creating Strategic Conversations

How do leaders go about addressing these strategic challenges? One way to enhance this need for flawless customer experience is to build partnerships with other companies which, for example, Amazon is accomplishing with its deal with American Express. Due to the prevalence of the VUCA world (Volatile, Uncertain, Complex and Ambiguous, identified by Whiteman, 1998), which definitely includes the current Covid-19 challenges, the starting point for an apparent transformation is the company's strategy. In many companies, digital transformation is underway-but for more than 50% of these companies, not yet implemented. This implementation is also hard to understand by many company leaders, and they do not always have the right skillset or do not have an interest in learning these new skills.