WHY IT MATTERS: Digital Transformation
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WHY IT MATTERS: Digital Transformation
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Curated by Farid Mheir
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Another great contribution by @JFGagne: A Framework + maturity model for #AI Governance that can be applied in #retail #finance to drive the #strategic planning process and govern its implementation

Another great contribution by @JFGagne: A Framework + maturity model for #AI Governance that can be applied in #retail #finance to drive the #strategic planning process and govern its implementation | WHY IT MATTERS: Digital Transformation | Scoop.it

Modern AI can figure out patterns, classify objects, make decisions and evaluate the results. It can learn and adapt to new situations using feedback loops. It’s awesome software. You don't need to pay someone to make an analysis then pay someone to create a piece of software then pay someone to validate the outcome then realize it’s not doing  what you expected then go back and tweak the software. That whole cycle can take years in large organizations, yet a properly designed process powered by artificial intelligence can do that in a matter of days. It can recode itself, roll the changes out, and verify if it’s actually moving the needle in a direction that you want — all at an accuracy and speed beyond human ability. Quite powerful. Quite threatening.

Farid Mheir's insight:

WHY IT MATTERS: this is quite useful framework to help guide the strategic planning process and measure its progress.

Vezta & Co.'s curator insight, November 5, 2018 6:34 AM

WHY IT MATTERS: this is quite useful framework to help guide the strategic planning process and measure its progress.

Antonio Lopez's curator insight, November 5, 2018 9:45 AM
Lookathis
Lenka Vural's curator insight, November 7, 2018 3:17 AM
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16 Critical Roles to Structure Your #Digital Team

16 Critical Roles to Structure Your #Digital Team | WHY IT MATTERS: Digital Transformation | Scoop.it

Many brands going through a digital transformation struggle to structure their teams. This framework can act as a guideline.

Farid Mheir's insight:

WHY IT MATTERS: digital requires skills and expertise that are very specific and often benefit from being organized in a center of excellence. This post presents some of those roles.

Vezta & Co.'s curator insight, September 11, 2018 11:05 AM

WHY IT MATTERS: digital requires skills and expertise that are very specific and often benefit from being organized in a center of excellence. This post presents some of those roles.

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Quebec ministry of economic development has released an industry 4.0 digital transformation framework to guide manufacturing companies #goodJob #MESI @economie_quebec

Quebec ministry of economic development has released an industry 4.0 digital transformation framework to guide manufacturing companies #goodJob #MESI @economie_quebec | WHY IT MATTERS: Digital Transformation | Scoop.it

L’avènement de l’industrie 4.0 modifie les façons de faire des entreprises. Le numérique vient non seulement transformer les systèmes et les processus, mais apporte aussi des changements au sein des différentes fonctions de gestion d’entreprise. Afin de rester concurrentielles, tant les PME que les grandes organisations doivent se tourner vers les nouvelles technologies.

Farid Mheir's insight:

WHY IT MATTERS: manufacturing industry has labelled digital transformation efforts as "industry 4.0" and governments such as Quebec are providing guidance to small and medium businesses on how to do it. Well worth the read.

A direct link to the framework is here (in french): Feuille de route industrie 4.0

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The next-generation operating model for the digital world via @McKinsey

The next-generation operating model for the digital world via @McKinsey | WHY IT MATTERS: Digital Transformation | Scoop.it

Companies need to increase revenues, lower costs, and delight customers. Doing that requires reinventing the operating model. A simple way to visualize this operating model is to think of it as having two parts, each requiring companies to adopt major changes in the way they work:

  • The first part involves a shift from running uncoordinated efforts within siloes to launching an integrated operational-improvement program organized around customer journeys (the set of interactions a customer has with a company when making a purchase or receiving services) as well as the internal journeys (end-to-end processes inside the company). Examples of customer journeys include a homeowner filing an insurance claim, a cable-TV subscriber signing up for a premium channel, or a shopper looking to buy a gift online. Examples of internal-process journeys include Order-to-Cash or Record-to-Report.
  • The second part is a shift from using individual technologies, operations capabilities, and approaches in a piecemeal manner inside siloes to applying them to journeys in combination and in the right sequence to achieve compound impact.
Farid Mheir's insight:

WHY IT MATTERS: digital transformation often requires profound changes to operating models. McKinsey proposes a simple way to derive a target digital operating model by looking at key scenarios that need to be supported with digital. This is especially true when considering new technologies such as 3D printing which not only introduce new capabilities but also have ripple effects into every function in the organization.

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McKinsey proposes to do away with outdated command-and-control structure in favour of unleashing the power of agile teams and explains that it requires executives and managers to change the way the...

McKinsey proposes to do away with outdated command-and-control structure in favour of unleashing the power of agile teams and explains that it requires executives and managers to change the way the... | WHY IT MATTERS: Digital Transformation | Scoop.it

In a nutshell, senior executives must move the company—and themselves—away from outmoded command-and-control behaviors and structures that are ill-suited to today’s rapid digital world. They must redouble efforts to overcome resource inertia and break down silos, because independent teams can’t overcome these bureaucratic challenges on their own. They must direct teams to the best opportunities, arm them with the best people, give them the tools they need to move fast, and oversee their work with a light but consistent touch.

Farid Mheir's insight:

WHY IT MATTERS: the issues raised in this article I see with every corporation I work with. They want agility and flexibility but executives don't let go of out-dated corporate structures and governance. Ultimately, they end up blaming employees and partners when they fail to deliver in a competitive way. Every executive I meet from this point forward will receive a copy of this article!

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A twist on the people+process+technology: digital transformation requires culture+strategy+technology

A twist on the people+process+technology: digital transformation requires culture+strategy+technology | WHY IT MATTERS: Digital Transformation | Scoop.it

Many of the companies I work with are undergoing some form of a “Digital Transformation” to ensure they stay competitive and relevant into the future. These big, transformational changes are very hard and require far more than an investment in new technologies. They require a clear and solid strategy for how technology can be used to transform the business and provide better customer experiences, a culture that embraces change and collaborates heavily, and the technology capabilities to execute the strategy quickly and efficiently. Otherwise, these digital transformation initiatives will end up just like the failed ERP projects of the past we’ve all heard about or been a part of.

Farid Mheir's insight:

WHY IT MATTERS: a reminder that digital transformation is not only about technology...

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Is your #Board of Directors ready for Innovation and #digitalTransformation? @HBR article says it is all about attitude towards #risk and asking the right questions

Is your #Board of Directors ready for Innovation and #digitalTransformation? @HBR article says it is all about attitude towards #risk and asking the right questions | WHY IT MATTERS: Digital Transformation | Scoop.it

Directors need to rethink their roles and their attitude to risk.

Farid Mheir's insight:

WHY IT MATTERS: look at this list of questions for your board of directors and ask them if they have an answer for each one in the context of digital transformation, artificial intelligence, blockchain, robotics, 3D printing, etc. Most likely, they won't. Then call me ;-)

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#Quebec province launches #digital #strategy mostly focussed on infrastructure #StratNumQc

La Stratégie numérique du Québec est un projet de société qui vise la cohérence de l’ensemble des actions gouvernementales afin d’accélérer l’essor, dans tous les milieux, d’une véritable culture numérique.

Cette stratégie a été élaborée en collaboration avec les citoyens, les experts, les entreprises et les organismes, selon leurs préoccupations, leurs besoins, leurs réflexions et leurs idées. Le ministère de l’Économie, de la Science et de l’Innovation a également travaillé de près avec plusieurs autres ministères pour définir les objectifs et les cibles de la Stratégie.

Farid Mheir's insight:

WHY IT MATTERS: finally we get to see what the digital strategy for the province of Quebec. Can't wait to sift through the 89 page document to find out if it goes beyond infrastructure deployment to ensure everyone can connect to the digital superhighway (as I find this may be required but may be 20 years too late...).

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Canadian #law firm @GowlingWLG_CA 1st to launch dedicated crypto legal team #blockchain #smartContracts #ethereum

Canadian #law firm @GowlingWLG_CA 1st to launch dedicated crypto legal team #blockchain #smartContracts #ethereum | WHY IT MATTERS: Digital Transformation | Scoop.it

Over the past several years, Gowling WLG has been at the forefront of the blockchain space. In that time, we’ve leveraged our sophisticated understanding of both the technology and the surrounding legal context to help numerous clients navigate this complex area. We look forward to building on that reputation by continuing to advise businesses, institutions and other organizations on their blockchain strategies.

Farid Mheir's insight:

WHY IT MATTERS: digital technologies impact every business, not just retailers and manufacturers. Professional services - law and accounting in particular - will be hit most in coming months. This is just one example. Bravo for taking the lead!

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Estée Lauder’s new shareholder report actually includes shoppable pictures via @competia

Estée Lauder’s new shareholder report actually includes shoppable pictures via @competia | WHY IT MATTERS: Digital Transformation | Scoop.it

The annual reports released by public corporations to their shareholders are known for being among the driest and dullest documents known to humanity. They’re usually full of tiny print, never-ending financial statements, and inscrutable charts. But Estée Lauder just released its 2017 report and it is a thing of beauty.

Farid Mheir's insight:

WHY THIS MATTERS

Digital is a state of mind and should infuse everything an organization does, including its annual report. This is a great example of that.

oncesellsy's comment, October 7, 2017 4:40 AM
great
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Inside the digital boardroom: are digital skills and competences must-have or nice-to-have?

Inside the digital boardroom: are digital skills and competences must-have or nice-to-have? | WHY IT MATTERS: Digital Transformation | Scoop.it

The dawning of the digital era is the latest in a long series of innovation-led disruptions, and, as with past disruptions, it is the board’s responsibility to decide which skills and competencies to add in response, and how best to do so.

Farid Mheir's insight:

Heidrick & Struggles provides some insight on how to best determine if digital skills are required in the boardroom. In particular they raise the important of digital advisory boards.

 

WHY THIS IS IMPORTANT

Digital and technology transformation should be part of every board member checklist as the digital transformation requires support at the highest level.

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Are board members ready to ask the do-or-die technology questions and understand the answers? via @McKinsey

Are board members ready to ask the do-or-die technology questions and understand the answers? via @McKinsey | WHY IT MATTERS: Digital Transformation | Scoop.it
Board members should raise nine critical questions when discussing technology strategy with IT and business managers. A McKinsey & Company article.
Farid Mheir's insight:

This post should be required reading for executives and board members. And the first question should be: 

"Are we considering technology as a strategic business lever and are our board members ready to ask the right questions and understand the answers?"


André Bélanger's curator insight, February 6, 2014 2:32 PM

D'abord, tenir pour acquis que toutes les entreprises doit maîtriser la technologie pour croître dans l'environnement concurrentiel actuel.

Les deux premières questions sont particulièrement inspirantes:

1. Comment les TI affectent votre environnement concurrentiel

2. Comment dépasser les attentes des clientèles dans l'univers numérique où la norme est établie par les géants tels Google et Amazon

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The Business Model Gallery: Best World Examples To Be Inspired

The Business Model Gallery: Best World Examples To Be Inspired | WHY IT MATTERS: Digital Transformation | Scoop.it

Via Robin Good
Farid Mheir's insight:

I've been using business model tool for years now. This gallery is truly amazing and I believe will be very useful for business architects and managers as they define their own corporate strategy because they will be able to easily compare with what others are doing.

Robin Good's curator insight, August 31, 2013 5:02 AM


The Business Model Gallery is a growing database of curated business models canvases gathered from a diverse set of companies operating in different sectors.


For each company you can analyze its updated "business canvas" in which you can see at a glance the key value propositions, its partners, revenue streams and all of the other key business building blocks.


Business models can be easily searched, filtered and compared across specific building blocks you are interested in. 


Coming up are also a PDF and PowerPoint export option as well as a dedicated iPad app.


A free trial is available and pro plans start at $9/month and go up all the way to $29/mo according to the number of features you want to use.


My comment: The Business Model Gallery offers a truly excellent gallery of valuable business models which can be extremely useful for anyone studying, researching or working on creating a successful new company.


Furthermore this is a great living example of how, curated collections of best of breed examples, are going to have a go as very useful business services in the coming months and years.



Free for the first three months: http://businessmodelgallery.com/ 


Features: http://businessmodelgallery.com/features/ 


Pricing: http://businessmodelgallery.com/packages/ 


To learn more about the canvas and its 9 building blocks, visit www.businessmodelgeneration.com



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Memo to the CEO: Why we need an annual report for technology via McKinsey

Memo to the CEO: Why we need an annual report for technology via McKinsey | WHY IT MATTERS: Digital Transformation | Scoop.it
The IT organization and the business units should be much more in tune. Here’s one way to make that happen. A McKinsey & Company article.
Farid Mheir's insight:

With the predominence of digital technologies in companies today, and with the limited and fragmented view that resources in the organizations have of the technologies that power their enterprise and allow them to compete, I believe an annual technology report should be mandatory objectives for all CIO, CTO, or CDO.

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