Macro global trendsA macro trend is a pervasive and continuous change in the direction of a global phenomenon. The Copenhagen Institute for Future Studies defines megatrends as developing trends that predict a possible future or express what we know with great certainty about the future. For example, global warming is a big trend.
A macro trend is something that continues and it is almost certain that it will continue. Macro trends last over time, affect companies and can become a lifestyle in society and are usually predicted 2 to 3 years in advance.
Digitalization
Cultivate digital culture.
Peter Drucker, one of the most prominent management theorists, says: “Culture eats strategy for breakfast, lunch and dinner.” A recent report by Altimeter names company culture as one of the main challenges facing organizations embracing digital transformation. Considering that digital initiatives in the organization are usually carried out by a specific unit, other units may not have a sense of commitment regarding digitalization.
This is while the digitization of the entire organization is a competitive advantage in today’s world. To solve this problem, a team can be made as the main nucleus, responsible for launching digital programs and providing the necessary training to other departments, because the digital culture must flow in all aspects of the digital company, including customer orientation, agility, innovation and aligned goals, and the necessary training must be provided.
Create a partnership model that works for you.
As you focus on revising your business model to become more digital, collaboration with technology providers becomes critical.
However, the organization’s existing operations and technology landscape must be able to support such partnerships. To optimize this experience, look for platforms that natively support integration with most of your business systems, or those that extend or create customized integrations. Also, determine the right models to implement or buy using metrics such as total cost of ownership and cost of change.
Fail fast, learn fast and succeed faster.
More than 55% of the CEOs surveyed by Gartner indicated that digital investments can increase your profitability quickly, but it is also possible that you will not be as successful as others in the first few attempts.
You can almost never completely destroy digital projects. Any failure you face can serve as learning for the next initiatives. Instead of spending a long time perfecting a solution, use agile methods to quickly prototype solutions and then refine them over time.
Always lead with a customer experience.
Before implementing any digital initiative, remember that everything an organization does must ultimately address a customer need, challenge, or frustration. Focus on what your customers prefer and how you can improve their experience. Your digital success largely depends on this factor. It can be as much an art as it is a science, and can serve as the key to maximizing your digital return on investment (ROI).
Appropriate criteria
What cannot be measured cannot be managed or improved. In digitalization, care should be taken to maintain the vision of the entire organization regarding digital investments and constantly monitor its effects on business.
Each digital experiment should be tracked using a set of predetermined criteria, including quantitative and qualitative parameters. Implement a performance engine (an analytical mechanism) to model possible changes due to digitization. This plays an important role in improving the probability of success of your digital programs, even before you invest in them.
