It has been an interesting journey, seeing the concept of “digital transformation” evolve. It has always been true that it is an issue of balance. With the acceleration we have seen as a result of our global pandemic, balance is more important than ever.
Here is some great insight from Stephan Kudyba. Dr. Kudyba is founder of the analytic solutions company, Null Sigma Inc., which focuses on providing strategic analytic solutions for organizations across industry sectors. He is also a professor in the management department at New Jersey Institute of Technology. He has published seven books and numerous journal and magazine articles. Dr. Kudyba holds an MBA from Lehigh University and Ph.D. in economics from Rensselaer Polytechnic Institute.
Dr. Kudyba knows whereof he speaks.
The term Digital Transformation has evolved from an exotic, vaguely understood phenomenon years ago to today’s common-place strategic focal point. The subject has received increased focus from researchers, organizational practitioners and academics alike. However, this “common-place” initiative in the current digital era may be masking some harsh realities that are involved when taking advantage of new technologies to transform business processes.
This “go digital” fever has engulfed c-suite executives, middle managers and employees of all walks across operational areas of companies. The reasoning behind this entails a number of factors, which include the idea of creating a competitive advantage or at least maintaining competitive parity in light of shifting consumer demands and opportunities. Success stories receive ample hype and appear almost magical and quickly draw the attention of market players. New technologies that enhance data creation and analytics, communication, and information access, retrieval and dissemination, along with routine replication capabilities of AI are bewildering organizations to make use of these incredible resources.
The pulse is so strong that an evolving research topic that is gaining worldwide attention refers to the “future of work”. This phrase refers to the skills of employees, worker-team diversity and collaborative techniques that are essential to achieving digital success. Skills that are receiving heightened focus involve social sensitivity factors and creativity along with digital skills such as data science and technological capabilities. However, before the market gets ahead of itself, strategic focus should also intensify on classic management concepts. Reality is that many digital endeavors are experiencing lower than expected financial performance.
Read more here —> The Balanced Approach to Digital Transformation
Digital Business 