How To Be A Business Transformation Advocate At Your Company

How To Be A Business Transformation Advocate At Your Company

Nearly 90% of leaders expect the number of change initiatives at their organization to increase in the next two years — but these changes will have mixed results.

McKinsey surveyed more than 2000 executives across 900 companies and found that fewer than half of executives believed their transformation efforts had met their goals or showed sustained results.

Click here to view the original article at ceoworld.biz

 

Communication is Companies’ Biggest Opportunity for Digital Transformation

Communication is Companies’ Biggest Opportunity for Digital Transformation

So much of the economy has gone digital. We buy, invoice, pay taxes, market, and serve customers digitally.

Yet parts of the economy remain digital-averse. According to the 2018 Digital Transformation Index, nearly a quarter of companies say they have a below average relationship with technology. Sixty percent don’t have a plan for digital transformation.

 

Japan’s “Society 5.0” initiative is a roadmap for today’s entrepreneurs

Japan’s “Society 5.0” initiative is a roadmap for today’s entrepreneurs

Japan, still suffering the consequences of its ‘Lost Decade’ of economic stagnation, is eyeing a transformation more radical than any the industrialized world has ever seen.

Boldly identified as “Society 5.0” Japan describes its initiative as a purposeful effort to create a new social contract and economic model by fully incorporating the technological innovations of the fourth industrial revolution. It envisions embedding these innovations into every corner of its ageing society. Underpinning this effort is a mandate for sustainability, bound tightly to the new United Nations global goals, the SDG’s. Japan wants to create, in its own words, a ‘super-smart’ society, and one that will serve as a roadmap for the rest of the world.

 

How to capture what the customer wants

Companies often fail across digital channels because they are insufficiently aware of the real needs and preferences of their customers across omnichannel journeys.

Customers now have an unprecedented number of ways to engage with companies, from traditional channels to an ever-growing array of digital modes. Many organizations have responded by investing in digital channels, frequently in an effort to replace traditional modes of engagement. The thinking is that as customers become more technologically savvy, they favor digital channels, significantly reducing the need for live agents and thus saving significant costs. Many companies have expected to save more than 40 percent through reducing live contacts. Yet companies that take this approach often see their customer interactions increase rather than decline, despite significant efforts and resources.

Click here to view the original article at www.mckinsey.com