Is it possible to make transformation intelligent…? He says as he paces up and down the garden buried in his own mind.
That is a question I have been asking myself for a number of years having spent most of my career delivering business transformation using the traditional tools of lean and six sigma. In todays’ ever evolving world I believe that we are seeing a number of key trends that can make this possible.
The UK economy has a productivity issue that is partly born out of poor digitisation adoption rates and a high proportion of transformation change initiatives that are unsuccessful. Manual and administrative elements of labour are not being eliminated at a fast-enough pace to accelerate productivity at the same rate as other advanced economies worldwide.
Businesses are struggling to adapt to economic trends and implement change in a timely manner, at a reasonable quality, and at a cost that is sustainable. Further compounding this, market leaders, who have dominated their market for decades, are now facing drastic budgetary pressures, often resulting in liquidation.
“Us” as a Society
Consumer habits are changing rapidly. Driven by increased use of digital platforms such as e-commerce and social media, consumers expect quick responses and a personalised experience. By leveraging technology, disruptors are capturing market share by demonstrating that consumers can get more for their money literally with their fingertips.
These digital platforms are providing instant insights that are influencing society, consumers’ choices and the methods to purchase products and services. Worldwide this is resulting in businesses being forced to adapt to these trends and provide tailored user experiences.
Technological advancements are having an increasingly disruptive influence on markets and organisations. Technologies such as big data, machine learning and AI are now able to draw insights that help businesses thrive… and in some cases for those who don’t, dive.
In recent years there have been pockets of high rate adoption, although as we moved out of 2019 and now into 2020 I would expect this rise as business leverage a wider span of technologies than that of the traditional “office suite” to gain an advantage.
Today’s society is more connected and dynamic than ever before. Organisations, of all shapes and sizes, are struggling to adapt to changing market demands and are being forced to rapidly transform to remain competitive and survive.