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Digital Leaders Bootcamp Session 1
The document discusses how digital disruption is transforming industries and business models. It notes that many organizations have become "digital dinosaurs" unable to adapt, and that over 40% of jobs could be replaced by digital technology in the next two decades. It provides examples of industries like retail, taxis, and media that have been disrupted. The key themes are that we are in an era of digital disruption and digital Darwinism, where organizations must adapt or risk failure. Strategies discussed include transforming customer engagement, internal processes, and business models to drive digital change.
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Digital Leaders Bootcamp Session 1
- 1. ENERGISE2-0.COM Digital Leadership: Strategy andManagement Dr Jim Hamill @DrJimHamill www.linkedin.com/in/drjimhamill Vincent Hamill @VHSocialMedia www.linkedin.com/in/vincenthamill
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- 6. Core Theme We livein an era of Digital Disruption and Digital Darwinism
- 7. Core Theme • Thedigital and social media revolutions are disrupting a wide range of industries, transforming existing ways of doing things and existing business models • Many organisations have become, or are in the process of becoming, ‘digital dinosaurs’ due to their inability to adapt • The changes seen already are nothing compared to what is coming over the next few years. Over 40% of jobs could be replaced by digital technology over the next two decades
- 8. Some Quotes • Weare in the early stages of an era of great technological change. Digital innovations are remaking our industries, economy, and society just as steam, electricity, and internal combustion did before them MIT Technology Review, June, 2015 • Digital disruption has the potential to overturn incumbents and reshape markets faster than perhaps any force in history………. an average of roughly four of today’s top 10 incumbents (in terms of market share) in each industry will be displaced by digital disruption in the next five years. Despite these dire ramifications, only 25 percent describe their approach to digital disruption as proactive— willing to disrupt themselves in order to compete Digital Vortex: How Digital Disruption Is Redefining Industries (IMD/Cisco 2015)
- 9. Some Quotes • Digitaldisruptors are tearing up the rule books, and no industry is immune. In response, firms must take a different approach to digital strategy, embedding digital capabilities into the heart of their business, rather than treating digital touch-points as peripheral add-ons The Digital Maturity Model, Forrester Research (2014)
- 10. #adaptordie • As organisations,we need to transform digitally - using digital technologies to rethink and improve the way we do things in at least three main areas: – ‘Externally’ - sales, marketing, PR, customer engagement, customer service, customer analytics – ‘Internally’ - the way we communicate with colleagues and partners; our business processes and systems; becoming an agile, flexible, fast moving ‘social organisation’ – Digitally transform our core business models
- 11. The Reverse StrategyFramework 11
- 12. If we needto adapt or die, do we have the Digital Leaders to drive change?
- 13. The evidence wouldsuggest not…… While there is a growing recognition of the need for digital change, a major digital skills shortage exists • Capgemini Consulting/MIT Center for Digital Business - missing digital skills were the key hurdle to digital transformation in 77% of the companies surveyed, (‘The Digital Talent Gap: Developing Skills for Today’s Digital Organizations, 2013’) • Forrester Research (2014) highlighted a ‘digital execution crisis’. Successful digital business transformation requires the full support of CEOs to drive investment priorities but few CEOs fully understand digital. ‘Many executives report that their firms are woefully unprepared to deal with the digital onslaught’ • Similar findings have been reported in other studies
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- 16. As Individuals, WeNeed To Transform A new breed of senior executive is required
- 17. Digital Business Leaders •Combine high level business knowledge, experience and understanding with the ability to develop digital transformation strategies fully aligned with and supportive of agreed business goals and objectives • The confidence and personal skills to drive organisational change • Are you ready to become a Digital Business Leader?
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- 19. Overview In one sentence…….. Staying relevant in a digital/social world
- 20. Organisation and PeopleNOT Technology
- 21. Digital Natives By 2025,Digital Natives will account for 70% of the global workforce and they will be shooting dinosaurs 21
- 22. What is amagazine?
- 23. Agenda – Day1 Time Topic/ Stop and Reflect Exercises 09.00 Digital Disruption: The digital and social media revolutions. Stop and Reflect Exercise 1: Digital Landscape Analysis. 10.30 Tea/Coffee 11.00 ‘External Digital’: Customer engagement; the new rules of sales, marketing and PR; social customer service; inbound/content marketing; big data and predictive analytics; real time engagement as the new marketing; tools and software. 12.30 Lunch 13.15 Stop and Reflect Exercise 2: The Customer Journey. Stop and Reflect Exercise 3: Audit your Customer Engagement Strategy. Stop and Reflect Exercise 4: Develop a Content Plan for your business. 14.45 Tea/Coffee 15.00 ‘Internal Digital’: processes, people, information, technology; building efficient, agile, flexible, data driven organisations; social business; ‘Enterprise Social’ software; analytics. 16.30 Close
- 24. Agenda – Day2 Time Topic/ Stop and Reflect Exercises 09.00 Stop and Reflect Exercise 5: Internal Digital Audit/Benchmark Analysis. 10.30 Tea/Coffee 11.00 Digital Strategy Development: Digital business transformation; developing a digital vision and strategy; KPIs and targets. Stop and Reflect Exercise 6: Develop a Digital Transformation Strategy. 12.30 Lunch 13.15 Digital Strategy Implementation: key success factors; people, technology, organisation, culture, project management, overcoming resistance to change; the role and characteristics of a successful Digital Business Leader. Stop and Reflect Exercise 7: Develop an Implementation Plan. 14.45 Tea/Coffee 15.00 Measuring Digital Performance and Organisational Impact: the 6Is approach; performance KPIs and measurement tools Stop and Reflect Exercise 8: Digital Business Performance Measurement. 16.30 Close
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- 26. Digital Disruption • Disruptor be disrupted • Why now? - the convergence of disruptive technologies • Three main impact areas – External digital – Internal digital – Business model • Will your industry/company be disrupted? How big will the impact be? • Examples • Stop and Reflect Exercise 1: Digital Landscape Analysis
- 27. Why now…..? The convergenceof disruptive technologies
- 28. Convergence of DisruptiveTechnologies
- 29. Convergence of DisruptiveTechnologies Social Media + Mobile + The Cloud + Big Data + Gen C = The End of Business as Usual
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- 31. Enterprise Social The ConnectedCustomer is also the Connected Employee
- 32. Ain't seen nothingyet…….. 50bn to 70bn connected devices by 2020
- 33. Ain't seen nothingyet……… Rise of the robots/intelligent machines
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- 35. FSB Digital DisruptionReport
- 36. Stop and ReflectExercise 1 Digital Landscape Analysis • Undertake a Digital Landscape Analysis for your organisation or organisation of your own choice • Summarise the main threats and opportunities
- 37. Supporting Videos - seeonline community
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- 39. What do thefollowing products and companies have in common?
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- 42. Digital Dinosaurs All havebecome (or could become) Digital Dinosaurs due to their failure to adapt to Disruptive Technologies
- 43. What Does HMVStand For?
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- 46. Who Will BeThe Next Dinosaur?
- 47. Who Will BeNext?
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- 49. The Future ofEducation
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- 51. The Future ofHigher Education
- 52. ‘Terminal Degrees’ –the Economist ‘If universities were to face the same conditions over the next 10 to 20 years that daily newspapers faced over the last 10 to 20, then revenues would fall by more than half, employment in the industry would drop by nearly 30% and more than 700 institutions would shut their doors.’ (Economist, 2014)
- 53. No organisation toobig to fail, nor too small to succeed
- 54. We live inan era of Digital Darwinism www.briansolis.com
- 55. Digital Darwinism A further70% on current list will fail within the next decade
- 56. Do we needto adapt or die? Few industries are immune from the threat of digital disruption
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- 58. More Examples • Tourismand hospitality – digital has revolutionised the customer journey – Dreaming, Planning, Booking, Experiencing, Sharing; also impact of the collaborative economy Airbnb • Retailing - ‘showrooming’ • Business Services – impact of Free Agent on bookkeeping/ accountancy profession; Hourly Nerd • Construction – Win Sun recently produced 10 basic houses in a day, at an average cost of less than £3,000, using a giant 3D printer and “ink" made from recycled waste • Agriculture – Field Scripts, a Big Data and predictive analytics development based on a database of 50 billion soil observations and 10 trillion weather-simulation points. • Taxis – Uberfy or be Uberfied
- 59. Disruption How many industrieshas this company/product disrupted?
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- 61. Rise of theRobots
- 62. Will you bedisrupted?
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- 65. No industry isimmune….
- 66. The robots arecoming
- 67. Will your industry/companybe disrupted? Deloitte Australia, ‘Short fuse, big bang’
- 68. Will your industrybe disrupted?
- 69. Industry Disruption Potential Short fuse, big bang: Industries with less than three years to adapt and transform themselves or face watching up to 50% of their business perish - finance, retail, professional services, arts and recreation, real estate and media, information and communication technology Short fuse, small bang: Industries with a lot less to lose in the way of digital disruption, but there is still a limited window in which they can act to mitigate potential damage - construction, wholesale trade and the hospitality industry
- 70. Industry Disruption Potential Long fuse, big bang: Industries that will experience profound change, losing a lot if they don’t metamorphosis. Over time, we will see each area being delivered in fundamentally different ways - transport, government, education and health Long fuse, small bang: The final category includes manufacturing and mining, which Deloitte says have the least potential for digital technologies
- 71. The Digital Vortex Fourout of ten industry incumbents will be disrupted within the next five years
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- 77. Bob Dylan (MashedUp ) Come gather 'round people Wherever you roam And don’t criticise What you can't understand Your sons and your daughters Are beyond your command Your old road is Rapidly agin‘ Then you better start swimmin’ Or you'll sink like a stone For the times they are a-changin’