Navigating through the digital era is often likened to racing a F1 car. In both, having the know-how isn’t just sufficient. Sans the how-to, you can’t steer and lap. A survey conducted by Harvard Business School Global Research Centers and associates identifies six qualities that make a firm digitally mature. Here’re they:-
- Dynamic: Dynamic understanding of the customers. New offering should address evolving customer desires.
- Informed: Be data-informed and not data-driven. Analytics are great, but judgment and critical thinking are greater.
- Challenging: Challenge the status quo and rethink the core business. Growth mindset eases adaption to changing conditions. Listen to customers, suppliers and stakeholders.
- Distributive: Distribute and co-create decision making. Collaborate and think collectively. Look beyond functional silos.
- Experimental: Experiment and learn, rather willingly. Conduct quick and relevant experiments of new products. “Fail fast” and “Learn fast”
- Ethical: Be ethical in decision making and proactive in governance. Above mere statutory compliance, be accountable for the unintended consequences of all actions. This builds long term trust.
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List out three must have qualities from the above which you consider are indispensible. Why?
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Linda A. Hill, Ann Le Cam, Sunand Menon, and Emily Tedards-Where Can Digital Transformation Take You?-Harvard Newsletter-31 JAN 2022