Healthcare systems in developed countries around the world are suffering. They are victim of severe pressures, coming from the need to manage their costs while dealing with aging populations with increasing need for health services. Take the US as an example. Healthcare costs have been steadily increasing over the past 30 years, outpacing the inflation rate by a factor of 1 to 3, without translating into higher standards of care. In fact, Americans spend on average twice as much on healthcare (per capita) than any other OECD countries, yet the US barely makes it into the top 40 countries when looking at Infant Mortality Rate (the US is ranked #34 between Cuba and Malta, with an average rate of 7 deaths for 1,000 births). Read more »
Filed under: Digital Transformation by Benoit Berthoux |
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There are not many business books that stand the test of time, but there’s one dating from 1999 that the digital economy has given new impetus to: Joseph Pine and James Gilmore’s The Experience Economy. For any of you not familiar with this seminal work, the authors argued that we were shifting to an experience economy where the role of a business is to orchestrate memorable events for its customers, and that memory itself becomes the product – the “experience”. The rise of the digital economy has given this already impressive work a new vitality, because the digital transformation the world is going through is making selling and delivering experiences a reality. There is clearly all number of companies who are successfully operating in the experience economy. However, what if we asked whether the concept could be stretched further — that an experience is not enough? Read more »
Filed under: Digital Transformation by Martin Hanlon |
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It was an apple that famously gave birth to the theory of gravity. In 1666 a young Isaac Newton was in his mother’s garden in Lincolnshire when an apple fell from a tree. Newton wondered why such bodies always moved downwards, rather than sideways or upwards – and the theory of universal gravitation was born. I have had a similar experience but involving Apple rather than an apple. While working on a Digital Transformation project, I was struggling with the limitations of CRM or ERM initiatives. Companies are rolling out technologies to enhance their customer relationships in order to gain more insights, to interact more often, to push information or to collect more data. In the case of ERM, companies are deploying solutions to enable each employee to access information more easily, more frequently and to share it efficiently. However, the adoption rate can be low or the added value to the user not obvious.
Thinking about the reason why, and analyzing our mania for the Apple corporation and its products (I too am a devotee), I realized that Apple, strictly speaking, has poor CRM (for example, they can’t tell you what you bought, where you purchased it). However, this doesn’t matter. Because what Apple has realized is that this isn’t important – what is important above all else is the CUSTOMER EXPERIENCE. Read more »
Filed under: Digital Transformation, Marketing 2.0 by Emmanuel Rilhac |
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The challenge of keeping up with a constantly changing digital world.
The last 5-10 years have been characterised by a communications revolution. During that time we have seen the mass roll out of broadband and mobile broadband, an explosion of new hardware devices that tap into that connectivity and an explosion of software-as-a-service (SaaS) solutions, apps and social networking sites that have transformed the way people interact with data and processes.
Together these changes have given users unprecedented access to information and connectivity to peers, transforming the way we complete tasks and transforming many different types of relationships from consumer to employee to supplier. Fundamental human behaviors may not have changed much – we have always been “social” – what has changed however is connectivity, access, transparency, speed and scale.
The communications changes we have seen do not represent a single one off disruption. If the last five years have taught us anything it is that constant disruptive change is here to stay. Think about the rapid rise and fall of mySpace and SecondLife, the speed at which Twitter has grown, the rapid evolution of Facebook from a college social network into a social commerce platform, or the extent to which the tablet PC has entered our daily lives. Read more »
Filed under: Digital Transformation, Internet Trends by Laurence Buchanan |
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One of the most common questions that executives ask us when discussing digital transformation is how do I assess where I am versus my competitors or best-in-class organizations? Having just completed the first year of a joint research program with the MIT’s Center for Digital Business, we have found that two key dimensions of digital transformation programs explain the varying levels of success experienced.
These two maturity dimensions are characterized as the ‘what’ and the ‘how’ of digital transformation. The what is the specific digital transformation elements being implemented by the organization, made up of their specific investments in customer experience, operational processes, worker enablement and business model changes. The how is the way organizations are driving the transformation, made up of aspects such as project governance, workforce engagement, and measurement mechanisms. These two elements are at the heart of the alchemy of digital transformation. Firms that are mature on both these dimensions can drive powerful digital transformation that yields significant business value. These mature few have mastered not only the style of digital transformation but also the substance. Read more »
Filed under: Digital Transformation by Didier Bonnet |
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Having spent a major part of my career consulting to the digital pioneers in telecom and media, I have experienced both the huge benefits and the big business models risks. Convinced, as I am, that no industry sector or organization will be immune from digital transformation, I have spent the last two years looking at the effect of digitization on more traditional industries.
My conclusion is that digitization is probably three steps ahead of our managerial capabilities to exploit it! But why does it have to be so hard? Reflecting on what many executives have told me and what I have observed, I would say there are three aspects which seem to hinder successful digital transformation: Leadership, pressure for change and organization. Read more »
Filed under: Digital Transformation by Didier Bonnet |
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Recent discussions with several global clients on the impact of digital technologies on their business, have convinced me that no single industry segment or government department has been unaffected by this digital transformation.
Digital has enabled organizations to fundamentally alter their internal and external processes and functions at an accelerated pace. As with most business transformations though, not everyone gets to start from the same vantage point. My conviction here is that the direction and speed of digital transformation is dictated either by the maturity of the industry you are in or by the type of leadership agenda that CEOs have decided to adopt. To simplify, I would say there are three (unevenly distributed) broad paths to digital transformation: defensive, offensive, and transitional (the ‘pondering’ majority). In the first path, the impact of digitization on an industry is highly disruptive, where an organization’s core products and / or business models are challenged by better and cheaper alternatives. Some organizations do spot the trend but either react too slowly in trying to defend their core offering for too long (think of Kodak) or their capacity to adapt is not agile enough. Read more »
Filed under: Digital Life, Digital Transformation by Didier Bonnet |
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Whatever you do, or dream you can, begin it. Boldness has genius and power and magic in it.
“Johann Wolfgang von Goethe”
My last post being bold was about the necessity for companies to go beyond simple sales and marketing revamp and try to really rethink their customer value proposition. The same applies to internal organization. You need to be bold internally to win the talent war and to be more efficient. Read more »
Filed under: Digital Transformation, Internet Trends by Nicolas Maynard |
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A colleague of mine that I would recommend you to follow on Twitter here, just posted a comment that made me want to write a new post. His tweet was simple yet tremendously true : #DigitalTransformation isn’t about optimizing marketing, sales and service – it’s about a revolution in customer value propositions. #BeBold.
Digital Transformation is a fact. Companies will have to go through an incredibly tough transformation if they want to maintain or gain a competitive edge in the future. You see, when I talk with companies about the technological revolution that is happening right now, most of what I hear about is social media. So let’s first be clear. If you think only about social media right now and you are not in a regulated industry (and that’s not even a good reason), you’re too late… Unless you come up with the next big social media campaign, you will be categorized as a follower. You have to think broader, bolder.
That’s why I loved this tweet. The transformation is not about social media, not even optimizing marketing sales or services it is about REVOLUTIONIZING customer value proposition. This is also why I believe that we are living in a historical period. In the coming 3 to 5 years will the game be decided. Winners will emerge and looses will sink. Read more »
Filed under: Digital Transformation, Marketing 2.0 by Nicolas Maynard |
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Healthcare systems in developed countries around the world are suffering. They are victim of severe pressures, coming from the need to manage their costs while dealing with aging populations with increasing need for health services. Take the US as an example. Healthcare costs have been steadily increasing over the past 30 years, outpacing the inflation rate by a factor of 1 to 3, without translating into higher standards of care. In fact, Americans spend on average twice as much on healthcare (per capita) than any other OECD countries, yet the US barely makes it into the top 40 countries when looking at Infant Mortality Rate (the US is ranked #34 between Cuba and Malta, with an average rate of 7 deaths for 1,000 births). Read more »
