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Harnessing Digital Transformation: The People Ecosystem
Featured Best Practice on Digital Transformation
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We are living in a Digital Age. A robust Digital Transformation Strategy is today’s organization’s corporate armaments in remaining competitive.
Organizations that have excelled in Digital Transformation have one thing in common that distinguish them from the rest: their mastery of the 4 critical Business Ecosystems.
- Customer Solutions Ecosystem
- Operations Ecosystem
- Technology Ecosystem
- People Ecosystem
In this article, let us focus on our people, the People Ecosystem.
The People Ecosystem
The People Ecosystem supporting Digital Transformation can be considered the most critical of the 4 Business Ecosystems. Its role is to enable and support the efforts of the other 3 ecosystems. An effective and well-designed People Ecosystem is core to a company becoming a Digital Champion.
Only companies with a clear digital vision, strategy, and culture to support Digital Transformation can take advantage of the People Ecosystem. To achieve this, it is necessary to heavily invest on training and developing the right skills. Yet, 2/3 of the companies today lack this vision.
Gaining the Benefits of an Effective People Ecosystem
A dynamic and robust People Ecosystem will enable companies to effectively respond to consumer demand. When companies achieve a successfully Digital Culture, Digital Leaders can expect to harvest its greatest benefits.
- Strong capabilities in data analytics, human machine interaction, and technology supported decision making are achieved.
- A non-hierarchical “best idea counts” mentality exists that leads to rapid decision making and problem-solving orientation.
- There is internal and external integration that creates dynamic cross-functional teams.
- A progressive career development is in placed that motivates and rewards innovation.
Manufacturing Outlook 2023
What does the future holds? By 2023, it is expected that digitization and automation will drive down operation costs in mature market. Low cost in operations will strengthen capacities of companies to compete. Likewise, reshoring and increasing production in home markets are expected in the next 5 years.
With all the digitization and automation that is expected to occur, it is expected that employees will be greatly affected. Digital Champions that have learned to his will greatly affect workers and he kind of employee companies hire.
Interested in gaining more understanding on People Ecosystem? You can learn more and download an editable PowerPoint about the People Ecosystem Layer of Digital Transformation here on the Flevy documents marketplace.
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Digital Transformation is being embraced by organizations of all sizes across most industries. In the Digital Age today, technology creates new opportunities and fundamentally transforms businesses in all aspects—operations, business models, strategies. It not only enables the business, but also drives its growth and can be a source of Competitive Advantage.
For many industries, COVID-19 has accelerated the timeline for Digital Transformation Programs by multiple years. Digital Transformation has become a necessity. Now, to survive in the Low Touch Economy—characterized by social distancing and a minimization of in-person activities—organizations must go digital. This includes offering digital solutions for both employees (e.g. Remote Work, Virtual Teams, Enterprise Cloud, etc.) and customers (e.g. E-commerce, Social Media, Mobile Apps, etc.).
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About Joseph RobinsonJoseph Robinson is the Vice President of Strategy at Flevy. Flevy is the marketplace for best practices in business management. Learn how the Fortune 100 and global consulting firms do it. Improve the growth and efficiency of your organization by leveraging Flevy's library of best practice methodologies and templates. The documents at Flevy (https://flevy.com) are of the same caliber as those produced by top-tier management consulting firms, like McKinsey, BCG, Bain, and Accenture. Most were developed by seasoned executives and consultants with 20+ years of experience. Flevy covers 200+ management topics, ranging from Digital Transformation to Growth Strategy to Lean Management. You can peruse a full list of management topics available on Flevy here. Prior to Flevy, Joseph worked as an Associate at BCG and holds an MBA from the Sloan School of Management at MIT. You can connect with Joseph on LinkedIn here.
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