Discovery-Driven Digital Transformation - clark boyd 2021

•

0 likes•305 views

Digital transformation is amorphous for most of us. Is it about technology? Culture? Business models? New skills? In reality, digital transformation will mean something different to every business. But that means a lot of important details slip through the cracks. This presentation aims to add some shape to the digital transformation process with the discovery-driven methodology proposed by Rita McGrath at Columbia University Business School.

DISCOVERY-DRIVEN
DIGITAL
TRANSFORMATION
Clark Boyd, February 2021

TODAY
Fe
b
2021
• From 'How?' to 'How Fast?'
• The Discovery-Driven Approach
• Digital DNA
• Tips and Examples

What do you think of
when you hear the
words 'digital
transformation'?

Discovery-Driven Digital Transformation - clark boyd 2021

From 'How?' to 'How Fast?'
PHASE 1
Some functions move
online
PHASE 2
New consumer
technologies
PHASE 3
Ambient technology,
platforms dominate

CLUSTERS OF
INNOVATION IN
FINANCIAL
SERVICES

$1 TRILLION+
SPENT ON DIGITAL
TRANSFORMATION INITIATIVES IN
2019
7 OUT OF 10
DIGITAL TRANSFORMATION
PROJECTS FAIL TO MEET THEIR
OBJECTIVES

SOURCES OF
VALUE IN THE
DIGITAL
WORLD Community
Revolution
Operations

Digital native brands have a
natural advantage, but that
advantage is harder to sustain.

THE DISCOVERY-DRIVEN
APPROACH
STEP 3
Learn from this initiative
before tackling another
challenge
STEP 2
Evaluate your portfolio and
your value proposition to
identify an opportunity to
adapt
STEP 1
Focus on a specific problem
your customers or your
business is facing

Tips for Getting Started
START INSIDE-OUT
Map current capabilities to new initiatives,
before working with external partners
POSITION WITHIN AN
ECOSYSTEM
Identify areas of strength and potential
partnerships
ENGAGE CUSTOMERS
Changing customer behaviours will lead your
transformation
FOCUS ON CULTURE
Culture is how we think, how we
communicate, and how we act

WHAT DOES 'GOOD' LOOK
LIKE?
DIGITAL TRANSFORMATION

Alstom offers a TrainLife Services package
including:
- Predictive maintenance
- Technical support
- Train renovations
With the aim of reducing lost customer hours.
Staff are incentivised to improve performance
against this metric.
Alstom: 'Lost Customer
Hours'

easybank has 1.3 million customers in Austria.
easybank offers all traditional banking services,
but also uses open innovation standards to add
new products.
For example, it launched loans and retail
investing before any of its competitors.
easybank:
Open Innovation

Industrial products and services company, became one of
the FTSE 250's fastest-growing companies by:
1. Integrating digital vision with business strategy.
2. Setting up a customer feedback framework.
3. Upgrading data capabilities to move at pace.
4. Creating a new 'purpose' campaign to attract tech talent.
Electrocomponents

Discovery-driven digital
transformation
Customer
Problems
Iterative
Strategy
Technological
Solution

More Related Content

Discovery-Driven Digital Transformation - clark boyd 2021

1. DISCOVERY-DRIVEN DIGITAL TRANSFORMATION Clark Boyd, February 2021

2. HI, I'M CLARK BOYD • Subject Matter Expert and Programme Leader on digital strategy for Columbia Business School, Imperial College London, and Cambridge University • Past clients include American Express, General Motors, Hiscox Insurance • Worked in London, Sydney, and New York, but from Belfast (the accent's a giveaway)

3. TODAY Fe b 2021 • From 'How?' to 'How Fast?' • The Discovery-Driven Approach • Digital DNA • Tips and Examples

4. What do you think of when you hear the words 'digital transformation'?

6. From 'How?' to 'How Fast?' PHASE 1 Some functions move online PHASE 2 New consumer technologies PHASE 3 Ambient technology, platforms dominate

7. CLUSTERS OF INNOVATION IN FINANCIAL SERVICES

8. $1 TRILLION+ SPENT ON DIGITAL TRANSFORMATION INITIATIVES IN 2019 7 OUT OF 10 DIGITAL TRANSFORMATION PROJECTS FAIL TO MEET THEIR OBJECTIVES

9. SOURCES OF VALUE IN THE DIGITAL WORLD Community Revolution Operations

10. Digital native brands have a natural advantage, but that advantage is harder to sustain.

12. THE DISCOVERY-DRIVEN APPROACH STEP 3 Learn from this initiative before tackling another challenge STEP 2 Evaluate your portfolio and your value proposition to identify an opportunity to adapt STEP 1 Focus on a specific problem your customers or your business is facing

13. Tips for Getting Started START INSIDE-OUT Map current capabilities to new initiatives, before working with external partners POSITION WITHIN AN ECOSYSTEM Identify areas of strength and potential partnerships ENGAGE CUSTOMERS Changing customer behaviours will lead your transformation FOCUS ON CULTURE Culture is how we think, how we communicate, and how we act

14. 'Digital DNA'

15. WHAT DOES 'GOOD' LOOK LIKE? DIGITAL TRANSFORMATION

16. Alstom offers a TrainLife Services package including: - Predictive maintenance - Technical support - Train renovations With the aim of reducing lost customer hours. Staff are incentivised to improve performance against this metric. Alstom: 'Lost Customer Hours'

18. easybank has 1.3 million customers in Austria. easybank offers all traditional banking services, but also uses open innovation standards to add new products. For example, it launched loans and retail investing before any of its competitors. easybank: Open Innovation

19. Industrial products and services company, became one of the FTSE 250's fastest-growing companies by: 1. Integrating digital vision with business strategy. 2. Setting up a customer feedback framework. 3. Upgrading data capabilities to move at pace. 4. Creating a new 'purpose' campaign to attract tech talent. Electrocomponents

20. Discovery-driven digital transformation Customer Problems Iterative Strategy Technological Solution

21. GET IN TOUCH! EMAIL ADDRESS [email protected] NEWSLETTER https://hitech.substack.com/ LINKEDIN https://www.linkedin.com/in/clark-boyd-digital/