To be the next generation of Digital Leaders
The digital transformation is taking over almost every industry, from manufacturing to logistics to finance, the digitization of the organization has been set one of the most important issues on the agenda. Companies are adopting digital technologies to improve productivity and to redefine their relations with clients and customers, revolutionizing the traditional way business has been done.
With opportunities come great challenges. Corporations unable to keep pace with the changings are doomed to be uncompetitive as the digital age rewards change and punishes stasis. To be able to confront those changes, business leaders have to profoundly understand the phenomenon, make bold but agile decisions, thus being able to drive companies through the constant changing environment.
The rapid pace and scale of disruption is one thing that most characterizes the Fourth Industrial Revolution, thus innovation and reinvention are now playing an ever-important row in organizations that intends to disrupt before being disrupted. On one hand, customers now enjoy more interactive and personalized experience thanks to SMAC (social, mobile, analytics and cloud) technologies, which requires companies to be innovative to meet the demand and respond quickly to the potential opportunities and risks with tech and data driven methods.
On the other hand, leaders should also take reinvention into account, which implies not just following the existing trend, such as converting a product line into an e-commerce site, but rethinking the business itself. It is worth highlighting that the digital reinvention does not call for companies to abandon their already existing products, but to do business in a more agile and analytically driven way to increase value, and to better position themselves in the market.
Digital proficiency is “a requirement for successful customer engagement and long-term growth”, says Ron van Kemenade, ING Bank´s chief information officer, who has led the shift to agile produced in one of the world´s largest banks. In digital age, companies and leaders should not limit their focus on the economic outcome, but also on reinventing the core of the business, which consist of a company´s value position, people, processes and technology. Leaders have to be aware that these elements are indispensable and any transformation that doesn’t address them will ultimately underwhelm, and as a consequence, the company will not be capable of achieving set goals.
Apart from the internal revolution of the organization, leaders should also consider the social impact the digital transformation has on a larger scale: from advancing medical care to creating jobs to solving environmental problems, which implies that the transformation represents not just a commercial opportunity, but also a greater responsibility for digital leaders, as what they should maximize is not just profits, but also overall social benefits.
It is thus not difficult to see that digital success, requires CEOs to develop the right leadership capabilities, workforce skills and corporate cultures to support digital transformation. That’s why Barcelona Technology School offers this unique program of Master in Digital Transformation Leadership that helps you develop a deep understanding of emerging technologies as well as of how to manage winner business strategies in a digital world.
Are you ready to be the next generation of digital leaders?