How does digital leadership change the World?
Digital leadership experts are in great demand as businesses increasingly rely on digital technology. These executives are high-tech, data-driven, and are able to inspire teams to experiment quickly, which drives transformation and business results.
What is digital leadership?
New technologies affect all types of companies in any industry, changes occur at such a speed that some markets can both appear and disappear tomorrow. One day when they come to work, entrepreneurs will face the fact that their business is no longer needed, and employees will suddenly realize that their qualifications are hopelessly outdated.
Internet, big data, automation and replacement of many habitual professions by work of robots and software: welcome to the world of the future! Many companies are now faced with the inevitable choice: to gain new competitive advantages necessary for digital leadership or … disappear!
Digital leadership changes everything: approaches to attracting and retaining customers, existing business processes, organizational structures and management methods.
What competitive advantages are needed for digital leadership:
For a successful competition and the use of digital leadership, companies need the following competences:
– Ability to predict and understand the future needs of the target clients,
– Deep analysis of its business and its key data
– Operational study and implementation of digital technology in key units of the company
– Replacement of traditional management procedures methods for rapid adaptation to new realities
– Accumulation of the use of big data to improve the efficiency of their work
– Ability to use popular social media and any digital channels for promotion and communication with customers and partners
– Ability to create popular and useful content for these media
– Updated approach to the design and visualization of corporate information
Global corporations create their digital strategies
Currently, more than 70% of all the world’s largest corporations are included in the forced race for the digital transformation of their business and the development of a new digital strategy. This means the fastest possible study and implementation of new it technologies in the work of companies, sooner and more efficiently than competitors, both from the same and from related areas.
The number of modern digital trends and the importance of their use in 2018-2019 just rolls over. Huge amounts of disparate big data, neural networks, mobile gadgets and mobile applications with multi-billion turnover do not allow anyone to stay away.
Five main effects of digital business transformation:
For those companies that want to survive and succeed in the new realities, business transformation is inevitable and necessary in the next 5 years. But what results can we expect from this transformation? What for? Researchers identify five major effects of digital business transformation, which include the following:
1. Increase customer satisfaction and loyalty
2. Rapid growth of professionalism and motivation of employees
3. Strengthening the competitiveness of goods and services offered
4. Cost optimization and updated cost structure
5. Updating of corporate culture and its compliance with new realities
Management and organizational structures are outdated
In recent years, it has also become noticeable that the existing management and the usual management paradigms have become obsolete. Existing organizations with a classical organizational structure are a thing of the past, because they are not able to compete for the best employees and the most promising clients.
They are replaced by organizations of the turquoise type, companies built on the principles of holocaust, in which there is no place for managers and middle managers!
Classical jobs are replaced with virtual offices, working computers and software are replaced by cloud technologies, the company’s usual departments are transformed into effectively interacting remote teams, in which experts from different parts of the world work. Only in decentralized structures with flexible teams in which employees operate independently can manage the changes that occur, accelerate decision-making and promote necessary innovations. New principles and delegation based on trust, allow to achieve such results, which managers could only dream of earlier!
The digital revolution has already occurred, but many still do not understand it.
For those who do not have time to navigate in the modern digital world, only the least paid service opportunities will remain in the near future, because with the advent of new technologies, the level of social inequality will increase, based on the difference in the competencies of people and companies. Without self-development here it will not be possible to find the place.
New digital tools of communication and interaction of people now largely replace traditional negotiations and familiar meetings. Whichever kinds of sales you do, the decision-making cycle and client requirements increase many times. Now it’s not enough just to be client-oriented and give an attractive price. While someone is preparing an offer for the client, others are already implementing joint projects with him.
Involvement of staff in digital leadership
Someone still thinks that digital leadership requires, first of all, strong leadership, which should be the driver of the forthcoming changes. But this is categorically insufficient for the formation of digital leadership in the organization, which is impossible without involving in the transformation of the whole team of the company, and without new ways of organizing and dividing the work, which will allow each employee to be maximally included in new processes and help to contribute to the digital future.
And one more important grail: “Digital leadership” is, above all, a matter of culture. Leaders who want to successfully master the digital transformation and integrate it into their company must change their mentality and work on a digital corporate culture in a manner that fits the spirit of the new time and that the best employees in your industry want to share your values and principles! One of the important tools for the development of culture are strategic sessions!
Digital consultants attack business
Like everything new, “Digital Leadership” and “Digital Transformation” are tantalizing paradigms for many consulting companies, that are eager to make money on the need for customers in organizational changes. But such companies are easily weeded out, because they themselves have a huge deficit of experts in this field, and there is no concrete evidence of their usefulness in the implemented projects. The technology for changing the thinking of managers has been known for a long time, and without having any consultant, they can not be useful, arguing only about the need to change the paradigm and the importance of a digital approach to business.
Digital transformation brings a new corporate culture
Digital transformation of a business and its leaders is not a process that can be completed in some time or a page of a book that can be completed to the last line. This also applies to understanding the very essence of digital leadership: what you have now is not necessarily the right decision tomorrow. That’s why it’s important that digital leaders ask themselves questions and cultivate an updated culture based on feedback and engagement from all key employees who can help make the best use of digital technologies for the benefit of business and humanity!
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