Welcome to the conversation. You are one of the million+ executives globally that are challenged by “current business environment of disruption and digital innovation.” Google it! Here’s what comes up …
“Digital disruption is at the heart of all the conversations; it has just begun.”
“Most businesses are not just concerned about all aspects of a digital society, digitalizing business environment and ‘digital first’ customer, they are afraid of them and of the technological innovations as such.”
“To empower people, business leaders will need to take a new perspective. … liquid workforces, the platform economy, predictable disruption and digital trust.”
During this past year I have worked with executives on five continents to help them address their digital transformation challenges. They consistently asked– How do we get our team on the same page with regard to digital mindset and need for digital transformation?
It all starts with Digital Disruption…resist it or embrace it!
- Blow up your business models, dismantle systems
- Deconstruct your fixed assumptions, deep-rooted beliefs
- Transform mindset, culture…live your values
DISRUPTION IS AN OPPORTUNITY
In the network economy of continuous change, Disruption is the new business normal. To survive, develop and grow, it is a necessity to anticipate change and build sustainable business models. “Most senior executives (75%) are confident about the success of the digital transformation efforts despite more than 60% still need to make significant organizational changes to reach their transformation goals. (Economist Intelligence Unit 2016)
As recently as two years ago, executives viewed “digital” with fear, resistance and disbelief in the necessity to change. They have begun to acknowledge that digital transformation is about mindset and related organizational change and not just adding IT tools or social software. It requires a transformative approach.
The Transformative Approach fosters the agility to face the ongoing challenges of the network economy/society and respond with smart, innovative solutions. Its values-driven methodologies challenge the team to develop a digital mindset, customer-first experience, data-driven decision making, and Creating Shared Value to unveil unprecedented opportunities and exponential impacts. These methodologies are integrated throughout the organization’s culture and functions to generate sustainable outcomes.
Embracing disruption is essential to drive digital transformation. Disruption must be viewed as an opportunity in generating the strategies and delivering the solutions necessary to develop a transformative advantage (exponential results) vs competitive advantage (incremental change).
“DESTRUCT” YOUR BUSINESS
A ½ $billion European FMCG food manufacturer was faced with declining local market potential; they realized that global expansion was a necessity. The Board acknowledged the need for digital transformation but realized that the company did not have the digital mindset, personnel or skills to execute the strategy.
To jumpstart the transformation process, we (Entwine Digital) launched “Destruct” Your Business, a two-day Strategic Disruption Bootcamp to flip their reactions to change- to anticipate, leverage and manage disruption by
- Clarifying their values and purpose
- Identifying and dispelling their assumptions and widespread beliefs about their industry
- Revealing trends not previously considered
- Facing strategic challenges (current corporate structure vs startup, competition, speed of change)
- Leveraging change (generate value, detect potential disruption, develop responses)
- Re-inventing their business model
- Establishing an innovation culture (support ongoing innovation)
- Monitoring the environment; evaluating their actions against their goals
- Preparing and mobilizing their team to be a disruptor
YOUR BUSINESS UNRAVELED…
The Bootcamp faced their team, across all functions and generations, with the direct experience of disruption of their business domain. It confronted the C Suite with the dissection of specific trends and challenges that will affect their company and industry. The Bootcamp allowed teams to openly admit and control their weaknesses and realize their vulnerabilities, while building on their strengths. It was designed to be very competitive, reflecting the intensity of the marketplace. It demanded teams to collaborate in realizing fresh insights that blended the reality of disruption with the transformative approach.
Disruption took on new meanings for the workshop teams (millennials, Gen Xers, baby boomers). It stimulated a creative tension that delivered innovative outcomes. The Bootcamp generated major questions about the future direction of the company. The Board realized digital transformation was not a single path. They were faced with a dual-velocity transformation strategy; one that acknowledged the organization’s need for rapid, exponential change vs an incremental, step-by-step integrated transformation of the company culture and operations.
The Boot camp sped-up the one-year Integrated Digital Transformation process resulting in:
- Executive Board was faced with reality – disruptors could “destroy” their company.
- Collaborative power was generated by members from different generations and functions.
- Decision making obstacles were obliterated; it was open, equitable, rapid, competitive, and sustainable.
- Teams realized rapid innovation and velocity of change was the norm.
- They changed the way they managed change and adopted digital transformation.
- Intergenerational teams were inspired by their agreement on their purpose and integrating their value into their brand.
- Traditional SWOT analysis incorporated a digital mindset to become more dynamic and valuable tool.
- Teams leveraged the external competitive threats; they discovered how to turn these insights back on their competitors.
- Teams became empowered as potential disruptors, realizing what was possible.
WHAT THEY SAID…
“It helped me to wake up and see that the world is changing very fast. We have to live with it, be part of it as much as we can, but not be afraid of the changes. These last two days were brain shaking.“ CEO Retail Food Chain
“The boot camp stimulated our team to re-consider the future strategy of our company. It was an excellent way to ask questions and determine if we were going the right way or if there was an additional way which we can consider. The input from the younger generation, which looked very differently at the current world than our board members, was very valuable.” CFO, Board Member FMCG Company
Boot camp participants (FMCG executives, managers):
“Stimulated joint ventures among different sectors in our company which is very positive- breaking down silos and making us together more creative.”
“We didn’t think it’s possible, so we were very pleased to see how much great potential is inside us.”
“It resulted in some ideas which would have never come up in ordinary discussions.”
“Our group worked more open, more creative, more brave; the results exceeded expectations.”
Ira Kaufman PhD is a Digital Transformation Strategist, CEO, Social Entrepreneur and Educator. His company, Entwine Digital, has been working with midsize and multinationals to train World Class Digital Leaders. His team is collaborating with Lynchburg College School of Business and Economics (ranked #4 for North American programs in Leadership Development) and Legacy International (NGO specializing in training future leaders) to launch Institute for Transformative Leadership to provide training for executives, managers and emerging leaders in the Network Economy.