Wednesday, September 29, 2021

g-f(2)526 THE BIG PICTURE OF THE DIGITAL AGE (9/29/2021), MIT SMR, The Digital Superpowers You Need to Thrive




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"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital ageDigital Transformation (9/29/2021)  g-f(2)426 


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The Digital Superpowers You Need to Thrive, MIT SMR 


  • More and more executives are coming to view disruption and transformation as continuous processes. In a 2021 Deloitte survey of 2,260 private- and public-sector CXOs in 21 countries, 60% of the respondents said that they believe disruptions like those seen in 2020 will continue. The resulting challenge is underscored by another of the survey’s findings: Seventy percent of the CXOs do not have complete confidence in their organization’s ability to pivot and adapt to disruptive events.
  • The research we conducted during the pandemic suggests that the companies that are most successful at meeting the challenge of continuous transformation are those that innovate through disruption.  
    • They achieve this by developing four key organization capabilities that overlap and operate in concert. We think of them as digital innovation superpowers.
    • Each of these superpowers is supported by digital technologies — cloud computing, data analytics, machine learning, cybersecurity, and others — but they extend beyond the adoption of technology per se. More important is how companies wield the technologies to transform themselves in response to disruption.


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        The four digital innovation superpowers, MIT SMR 


          1. Nimbleness: The ability to quickly pivot and move. (“We used to do this, and now we do that.”)
          2. Scalability: The ability to rapidly shift capacity and service levels. (“We used to serve x customers; we now serve 100x customers.”)
          3. Stability: The ability to maintain operational excellence under pressure. (“We will persist despite the challenges.”)
          4. Optionality: The ability to acquire new capabilities through external collaboration. (“Our ecosystem of partners allows us to do things we couldn’t do previously do.”)


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          Opportunity 

          The Real Disruption Starts Now, MIT SMR


          • We believe that businesses have only just begun to experience the disruptions spawned by COVID-19: Many companies responded to the pandemic by developing new digital capabilities, and as restrictions are lifted, they won’t go back to business as usual. Instead, they are more likely to use their hard-earned capabilities to unleash a new wave of innovation and competition. 
          • Resilient companies use the four capabilities described above to navigate a three-step process: Respond, regroup, and thrive. The first step is the immediate and decisive action that a company takes to respond to an existential threat, such as COVID-19. The second step is not a return to the past but a systematic consideration of how to take advantage of the opportunities presented by the disruption and the company’s responses to it. The third step — the one that is fast approaching as the pandemic subsides — is where organizations chart a new path, wielding the transformational changes forged in disruption and building even more resilient and successful organizations.
          • If the “respond, regroup, thrive” pattern holds true for the acute disruption of COVID-19, we expect that the business environment over the next three to five years will be the most exciting and innovative period that many of us will experience in our lifetimes. Now is the right time for companies to innovate and thrive, not retreat to pre-pandemic ways of doing business.


          Opportunity 

          The Research, MIT SMR


          • The research on which this article is based was conducted over six years by MIT Sloan Management Review and Deloitte and included the following sources:
            • Surveys of more than 21,000 people about their experiences with digital disruption and their perceptions of the nature and adequacy of their organization’s response.
            • Interviews with over 100 executives and thought leaders before the pandemic began, and an additional 50 interviews of executives and thought leaders across industries from March 2020 through December 2020.
            • A variety of quantitative data collected during the COVID-19 crisis, including Deloitte’s biennial Global Technology Leadership Study and Gensler Research Institute’s U.S. Work From Home Survey 2020.



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          • Category 2: The Big Picture of the Digital Age
          • [genioux fact deduced or extracted from geniouxfacts]
          • This is a “genioux fact fast solution.”
          • Tag Opportunities those travelling at high speed on GKPath
          • Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
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            • Inherited from sources + Supported by the knowledge of one or more experts + Supported by research.


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          ABOUT THE AUTHORS


          Gerald C. Kane (@profkane) is a professor of information systems at the Carroll School of Management at Boston College. Rich Nanda (@richnanda) is the leader of Deloitte’s U.S. Monitor Deloitte practice. Anh Nguyen Phillips (@anhphillips) is research director of Deloitte’s global CEO Program. Jonathan Copulsky (@jcopulsky) is executive director of the Medill Spiegel Research Center at Northwestern University. They are the authors of The Transformation Myth: Leading Your Organization Through Uncertain Times (MIT Press, 2021), from which this article was adapted.


          Gerald C. Kane



          Professor Gerald C. (Jerry) Kane's research interests involve how organizations develop strategy, culture, and talent in response to changes in the competitive landscape wrought by digital technology, such as social media, mobile devices, Internet-of-Things, analytics, and emerging technologies (i.e. virtual reality, augmented reality, artificial intelligence). His published research has appeared in MIS Quarterly, Information Systems Research, Organization Science, Management Science, Marketing Science, Harvard Business Review, and MIT-Sloan Management Review. Dr. Kane has also consulted with Fortune 500 companies and taught executive education worldwide on managing and competing within an increasingly digital environment.


          Rich Nanda



          Rich Nanda is a principal in Deloitte Consulting LLP, where he serves as the leader of Deloitte’s US Monitor Deloitte practice. He has significant experience in guiding clients through strategy-led transformation to achieve profitable growth. He routinely advises boards, CEOs, and executive teams at consumer products companies on topics spanning growth, business model innovation, operating models, capability building, analytics, and technology adoption.


          Anh Nguyen Phillips



          Anh is a researcher, author, and former management consultant who has dedicated her career to exploring the interplay between technology and humanity. She is co-author of numerous articles and reports, as well as three books: The Technology Fallacy, a data-driven look at the centrality of culture to digital transformation; Work Better Together (June 2021); and The Transformation Myth (Sept 2021). Her work has been cited in leading publications such as the Wall Street Journal, MIT Sloan Management Review, Forbes, Fortune, and CIO Magazine. As the research director for Deloitte’s Global CEO Program, Anh directs research teams that help executives and other leaders navigate a changing world.



          Jonathan Copulsky



          Jonathan Copulsky is an innovative marketing leader, growth strategist and thought leader with over 35 years of experience working at the intersection of brand, marketing strategy, content marketing and marketing technology. As a CMO, consultant and board member, Copulsky brings the ability to anticipate customer needs, reposition brands, architect fresh “go-market-solutions,” creatively apply new technologies, streamline customer-facing operations, build strong teams and engage diverse stakeholders to deliver measurable and impactful results.



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