{"id":11334,"date":"2022-07-07T07:46:14","date_gmt":"2022-07-07T12:46:14","guid":{"rendered":"https:\/\/flevy.com\/blog\/?p=11334"},"modified":"2022-07-01T14:47:28","modified_gmt":"2022-07-01T19:47:28","slug":"digital-maturity-strategy","status":"publish","type":"post","link":"https:\/\/flevy.com\/blog\/digital-maturity-strategy\/","title":{"rendered":"Digital Maturity Strategy"},"content":{"rendered":"

\"\"Go digital or go home.\u00a0 To survive in the Digital Age, organizations must pursue Digital Transformation<\/a> to not only support strategies and reach customers, but also to modernize and achieve excellence in their internal operations<\/a> and processes.\u00a0 The pursuit of Digital Maturity is quickly becoming a necessity.<\/p>\n

Yet, most organizations are unable to properly strategize their transition to Digital Maturity<\/a>.\u00a0 Nevertheless, there are organizations that are digitally mature or are leaping towards that state with ease.\u00a0 Research into the Strategy of such organizations reveals that digitally mature organizations apply following 5 practices that make them leaders in this race:<\/p>\n

    \n
  1. Digital Organization<\/strong><\/li>\n
  2. Digital Strategy<\/strong><\/li>\n
  3. Digital Experimentation<\/strong><\/li>\n
  4. Digital Talent<\/strong><\/li>\n
  5. Digital Leadership<\/strong><\/li>\n<\/ol>\n

    \"\"<\/a><\/p>\n

    These 5 best practices provide the foundation to Digital Maturity Strategy.\u00a0 Let us delve into a little more detail of some of these best practices.<\/p>\n

    Digital Organization<\/strong><\/h2>\n

    Conventional Organizational Structures arranged in functional silos<\/a> do not cut it in the dynamic and rapidly changing markets.\u00a0 Fresh approach to Organizational Structures<\/a> has brought forward cross-functional team structures.\u00a0 Customary command and control systems hinging on functional silos are hindering the agility necessary in the current market scenarios.<\/p>\n

    A research survey categorized Digital Maturity of organizations into early-stage, developing, and maturing organizations.\u00a0 Nearly 60% of the respondents from the early-stage deemed the management structure and practices in their organizations as an impediment to engaging in Digital business successfully.\u00a0 Digitally Maturing companies, on the other hand, had 80% of the respondents saying that their leaders had adequate understanding and capability to lead the organization\u2019s Digital Strategy.\u00a0<\/strong><\/p>\n

    Digital Strategy<\/strong><\/h2>\n

    Effective Digital Strategies are not merely implementation of technologies for the purpose of becoming more Digital, rather they are purposed to identify opportunities for greatest business impact.<\/p>\n

    Research consistently indicates that Strategy is the most formidable differentiator<\/a> of Digitally Maturing companies.\u00a0 Digital Strategies lay out how the organization conducts business distinctively, given the changes brought about in the market by new Digital technologies.<\/p>\n

    When asked about actions needed by the company to increase Digital Maturity, 40% of respondents in a survey, felt the need for improvement in Digital Strategy and Innovation.\u00a0 Percentage-wise, research found that 80% of the Digitally Mature companies had, or were likely to have, a well-defined and coherent Strategy as compared to 19% of Early-stage companies.\u00a0 Research concluded that Digitally Mature organizations are 2 times more likely to Strategize for 5 years or more.<\/p>\n

    Successfully executing Digital Strategy demands concentrating on Organizational Change and building flexibility<\/a> so as to attune to swiftly changing Digital environments.\u00a0<\/strong><\/p>\n

    Digital Experimentation<\/strong><\/h2>\n

    Almost every organization indulges in experimentation with technology. \u00a0But the scope and scale of experiments sometimes do not provide outcomes that may have an enterprise-wide effect.\u00a0 Digitally Maturing companies have the capability to escalate Digital Experiments.<\/p>\n

    Key to effective experimentation is to think of experiments for urgent business problems\u2014that will push enterprise-wide Innovation<\/a>\u2014then conduct smaller experiments that can be ramped up once successful.<\/p>\n

    Digitally Maturing organizations are 2.5 times more apt at conducting small experiments and scaling enterprise-wide Innovation, compared to Early-stage companies.\u00a0 Open-mindedness towards failures and the capacity to learn from them strengthens the ability to scale up small experiments.<\/p>\n

    Interested in learning more about Digital Maturity Strategy?\u00a0 You\u00a0can download\u00a0an editable PowerPoint on Digital Maturity Strategy<\/strong> here\u00a0<\/a>on the\u00a0Flevy documents marketplace<\/a>.<\/p>\n

    Do You Find Value in This Framework?<\/h2>\n

    You can download in-depth presentations on this and hundreds of similar business frameworks from the\u00a0FlevyPro Library<\/a>.\u00a0 FlevyPro<\/a> is trusted and utilized by 1000s of management consultants and corporate executives.\u00a0 Here\u2019s what some have to say:<\/p>\n

    \u201cMy FlevyPro subscription provides me with the most popular frameworks and decks in demand in today\u2019s market.\u00a0 They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions.\u00a0 I strongly recommend FlevyPro to any consultant serious about success.\u201d<\/p>\n

    \u2013 Bill Branson, Founder at Strategic Business Architects<\/p><\/blockquote>\n

    \u201cAs a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power.\u00a0 For us, it is an invaluable resource to increase our impact and value.\u201d<\/p>\n

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    \u201cFlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients.\u00a0 In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over!\u00a0 The quality of the decks available allows me to punch way above my weight \u2013 it\u2019s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.\u201d<\/p>\n

    \u2013 Roderick Cameron, Founding Partner at SGFE Ltd<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

    Go digital or go home.\u00a0 To survive in the Digital Age, organizations must pursue Digital Transformation to not only support strategies and reach customers, but also to modernize and achieve excellence in their internal operations and processes.\u00a0 The pursuit of Digital Maturity is quickly becoming a necessity. Yet, most organizations are unable to properly strategize… Digital Maturity Strategy<\/span><\/a><\/p>\n","protected":false},"author":110,"featured_media":11340,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[84,85,81],"tags":[1535,228,1342,2968,2969,1024,917],"class_list":["post-11334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-information-technology","category-organization","category-strategy","tag-business-transformation","tag-change-management","tag-data-analytics","tag-digital-maturity","tag-digital-maturity-model","tag-digital-strategy","tag-digital-transformation"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/11334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=11334"}],"version-history":[{"count":7,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/11334\/revisions"}],"predecessor-version":[{"id":11348,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/11334\/revisions\/11348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/11340"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=11334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=11334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=11334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}