This blog is about the digital business era. The blog posts are brief, foods for thought. They comment on articles, events etc. with a personal touch.
The Five Digital Competencies of the Board
The Name of the Game is Digital Transformation. It is a phase-shift in the way companies do business. Most industry sectors are either in the middle of this, or on the brink of it. Businesses in all industry sectors will be challenged on their business practices. The ones that can turn this into a growth opportunity gets richer and greater. The rest will perish!
Many Executive Boards have limited experience with and indepth understanding of the digital business models, and struggle to get a firm grip on the business models, competency requirements, risk and investments. The requirements to the Board of Directors is to master the following 5 digital competencies:
- Sparring with the owners regarding the company's long term diigtal development. This is called "the digital dream".
- Set direction for digital strategies and transformation plans of the company.
- Stay close to execution of digital strategies and transformations.
- To understand risk management and security management and conduct timely corrective actions
- To master the Board's own digital toolbox for enhanced productivity and convenience
Each of these competencies will be investigated and described in the coming article, The Digital Chairman.
The Digital Innovator
This is the digital business era. This is the decade where even companies with conservative technology adoption will reluctantly internalize that they must transform – or perish.
Throughout the past 2 decades, many industry sectors have transformed fundamentally once or even twice. Some industries have lost their existence while others have shot into the sky, making dollar billionaires of their founders in less than a decade.
A Digital Strategy is the combination of business and technology initiatives. To combine the two is making it stronger, more focused and more compelling – and it will help executives gain the necessary momentum to transform their enterprises.
This article is the executive summary of a coming book with the title “The Digital Innovator”. The Digital Innovator is an executive who bridges business and technology in a process of business development, investment portfolio management and strategy execution.
The book will target senior managers as a non-technical, practical and straight-forward recipe for success in Digital Strategies.
Business and technology strategies are some of the best described disciplines of the corporate environment. This section com-bines several disciplines to create a strong, focused and compelling set of strategic actions that will help progress your company towards its destiny. It gravitates around the following key topics:
- Identify the dream
- Decide to change
- Specify the gaps
- Connect the dots
Introduction to Digital Strategies
Digital Strategies - Serial innovators pair up with digital strategists and re-invent business across all industries. Setting up new businesses is easy and venture capital is available. Is it possible for top companies to follow these trends, or will they end up as the dinosaurs of the 20th century?
A key goal is to give you inspiration on how to deal with the digital business era. Another goal is to get feedback on ideas and thoughts. Have a great digital business era!
Confucius – you cannot open a book without learning something - /jan