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WHY IT MATTERS: Digital Transformation
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Farid Mheir
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Best Practice for Adopting the World’s Most Successful eCommerce Model.
Farid Mheirs insight:
WHY IT MATTERS: always the same, reports stress all the elements and solutions on the FRONT-OFFICE and hide under the rug the make-or-break elements of the BACK-OFFICE - probably because they are the most difficult elements to get right. Or maybe is it because they don't know? ;-) 
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There’s an old saying that the first fifty years of the car industry were about creating car companies and working out what cars should look like, and the second fifty years were about what happened once everyone had a car - they were about McDonalds and Walmart, suburbs and the remaking of the world around the car, for good and of course bad. The innovation in cars became everything around the car. One could suggest the same today about smartphones - now the innovation comes from everything else that happens around them.
Farid Mheirs insight:
WHY IT MATTERS: this post is a bit theoretical for someone not bathing in digital transformation all day as I do (mostly). It explores what could come next but more importantly stresses an important fact: we now have a new platform - the mobile phone - in our pockets that has the potential to transform our world. We have started to see this with eCommerce - physical retail stores become irrelevant and we can price compare from anywhere - but we have yet to see the real impact of eCommerce+mobile+cloud+5G. THIS is what I think about most days...
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We asked executives how long they expected it would have taken their companies prepandemic to digitize 12 different activities and how long it actually took them once the coronavirus hit.
Farid Mheirs insight:
WHY IT MATTERS: "quand on veut, on peut".
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In the early 1960s, it was common to think, ‘We are building a new computer, so we need a new programming language,’
Farid Mheirs insight:
WHY IT MATTERS: this short article is must read for anyone in the field to understand where things we used today come from (web, PHP, etc.). A bit technical but very approachable, what strikes me most is that everything we used today - Internet, iPhones, eCommerce & digital transformation in general - are no more than 60-70 years old. We are digital puberty with 40 year old software parents. Keep that in mind as you think about your digital transformation.
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A billion people in the world have no legal identity. Without an ID they can’t open a bank account, get a loan, or even vote. Now a tech entrepreneur has come up with an answer.
Farid Mheirs insight:
WHY IT MATTERS: an amazing article from WEF about how important digital identity is. The diagram is also a great summary of the potential use cases for digital IDs. In short: its way more than a digital version of your passport.
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This Gartner research helps executive leaders prioritize digital business efforts to satisfy near-term needs with the longer-term goal of being future-ready.
Farid Mheirs insight:
WHY IT MATTERS: this short article presents an interesting framework to prioritize digital projects - although a bit weak on actual content.
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A new survey finds that responses to COVID-19 have speeded the adoption of digital technologies by several years--and that many of these changes could be here for the long haul.
Farid Mheirs insight:
WHY IT MATTERS: Question: who is the corporate leader for digital transformation? Answer: covid-19! These charts from McKinsey clearly show how much covid has accelerated digital transformation in organizations. Never waste a good crisis they say... ;-)
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Learn what circular impact means and how you can measure it for your business! It's important to translate your strategy into tangible KPIs and measurable targets.
Farid Mheirs insight:
WHY IT MATTERS: a beautiful illustration of the circular economy and the multiple options to consider before the landfill.
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Since former BCG consultant Clayton Christensen first used the term "disruptive innovation" in 1995, nimble startups have challenged incumbents in every field from music to manufacturing. Now, a tectonic disruption is hitting management consulting just as it has hit many other industries.
Farid Mheirs insight:
WHY IT MATTERS: this report presents the case for the disruption of consulting by small firms like mine as it is enabled by digital technologies. Fascinating read.
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Best practices for all-remote organizations
Farid Mheirs insight:
WHY IT MATTERS: this well-researched article highlights the PROs & CONs of work from anywhere - WFA - and provides best practices from large companies that have done this at scale (1300 WFA employees at GitHub). A reference for us all in digital transformation and also a showcase for the real impact of our work: large cities may struggle to attract people versus small towns that have lower cost of living and little traffic, countries may find that work visas need to be adapted to limit remote workers (how to do that), etc. All in all, it may be the biggest transformation that digital brings: a societal change. Who knows...
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McKinsey has been conducting an in-depth diagnostic survey of 150 companies around the world. By evaluating 18 practices related to digital strategy, capabilities, and culture, we have developed a single, simple metric for the digital maturity of a company—what might be called its Digital Quotient, or DQ. This survey reveals a wide range of digital performance in today’s big corporations (exhibit).
Farid Mheirs insight:
WHY IT MATTERS: I wrote about this when it came out and it feels like the McKinsey Digital Quotient remains as meaningful today as it was 5 years ago. The DQ helps identify the criteria for digital transformation and visualize if your company is above or below average... See criteria and more here: www.mckinsey.com/featured-insights/digital-disruption/raise-your-digital-quotient
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A road map towards becoming a digital-first organization.
Farid Mheirs insight:
WHY IT MATTERS: this maturity may be overly simplistic but the plan is sound. Start with exploration, proof-of-concepts, prototypes, etc. Then move on the unification of processes to finalize with transformation!
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Large enterprises needing to pivot quickly and push innovation to the edges may be encumbered by heavy management and control structures. However, internal talent marketplaces have the potential to change that. They establish trust through feedback mechanisms. They allow for worker-led innovation and help workers take full control of their careers. They enable much better and more granular tracking of the skills, competencies, knowledge and interest of individual workers. This, in turn, will give enterprises a much better view of their workforce and improve workforce planning. Internal talent marketplaces will help bring about leaner, more agile and more adaptable organizations.
Farid Mheirs insight:
WHY IT MATTERS: this report is a great summary of the digital technologies that can support the remote workers as part of digital transformation of businesses.
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At the top of most organizations' priority lists right now is how to keep their workers productive and engaged. Except for in-person businesses and essential workers, the workforce has largely been physically disbanded until the pandemic comes to an end, one way or another. In unprecedented fashion, technology has suddenly become one of the single…
Farid Mheirs insight:
WHY IT MATTERS: this article shows collaboration best practice and offers useful visuals to understand the perfect use of the collaboration tools out there.
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In some cases, the technological changes inspired by Covid-19 will come in the form of an acceleration of existing trends — for example, industrial automation and contactless payments. In other cases, like virtual reality, 3D printing, or telehealth, the crisis may change the course of the industry, enabling companies to demonstrate value that, until now, consumers have been unable or unwilling to see. In this report, we’ll explore some of the trends created or accelerated by the onset of Covid-19 that are likely to change the way we live, work, learn, and relax long after the pandemic is over — and how the future of those innovations is likely to unfold.
Farid Mheirs insight:
WHY IT MATTERS: a great overview of the long lasting impacts of COVID in our lives.
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Responses to a McKinsey global survey of 800 executives suggest a disruptive period of workplace changes lies ahead due to acceleration of automation, digitization, and other trends.
Farid Mheirs insight:
WHY IT MATTERS: no surprise, companies will hire technologists and agile methodology experts post confinement to enable their remote workforce ... and reduce the need for humans!
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Online grocery shopping surged since the pandemic kept Americans at home. The CEO of Whole Foods says as people start to feel more safe going out, that trend will fade.
Farid Mheirs insight:
WHY IT MATTERS: we've seen an acceleration of eCommerce adoption during covid lockdown worldwide. McKinsey says 10 years in 3 months. Shopify stock has surged, instacart orders have grown 250x, mirakl has raised 300M$ in funding, all based on this recent trend. But guys that have been doing retail for a long time are skeptical - like WholeFoods CEO (now Amazon). When everyone is FORCED to stay home, then of course eCommerce and home delivery will explode they. When things go back to normal, then retail will go back to normal is their belief. Who's right? If you know me, you know where I stand on this. Going digital is like being an alcoholic: the first thing you must do on the road to recovery is recognize you have a problem... ;-)
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The Marketing organizational survey 2020 provides marketing leaders with the latest insights to optimize their organizational structure and build a more scalable, flexible, and resilient marketing organization
Farid Mheirs insight:
WHY IT MATTERS: adopting an agile approach is a great idea. But it requires clear vision, strategy, governance and teams that leverage digital tools and solutions to make sure anarchy does not set in. We have the experience in software development after 20 years of trials and errors. Let's hope marketing teams can learn from our mistakes...
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The Marketing Operations Survey uncovers best practices for the marketing operations leaders' role’s current scope, future mandate, and provides insight into the most critical key performance indicators, development priorities and operational marketing technologies.
Farid Mheirs insight:
WHY IT MATTERS: not sure this is something they stress for marketing professionals in school these days. Marketing has become a technology business and you need the skills and the resources to properly use martech tools and solutions including: SEO, email, analytics, data analysis for end to end attribution, etc.
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Amazon’s business is delivering very rapid revenue growth but not accumulating any surplus cash or profits, because every penny of cash is being ploughed back into expanding the business further. But, this is not because any given business runs permanently at a loss - it is because the profits from what is already there are spent on making new businesses. In the past, that was mostly in operations, but in recent years the investment firehose has again been pointed at capex.
Farid Mheirs insight:
WHY IT MATTERS: this article dates back a few years but is very important to understand Amazon and why it is so disruptive to retail. Amazon invests most of its profits into developing solutions and infrastructure (via CAPEX or capital expenditure) in order to CAPTURE FUTURE ECOMMERCE SALES as the world moves from physical retail to digital. To compete, retailers must either 1) leverage Amazon infrastructure (via marketplace, FBA, AWS, etc.) 2) or, if they are big enough, invest massively their CAPEX to build competing infrastructure to Amazon. This is difficult because their shareholders are used to getting return on their investments (which CAPEX will reduce): that may need to change. Or get the customers to pay for it (ie. massive walmart investments in eCommerce that they have just passed over to their suppliers - effectively having customers pay for it). To maintain economic prosperity, governments should also invest in building shared infrastructure: large automated distribution centers, parcel delivery (canada post, USPS, etc.), digital payment processing, digital IDs, etc. This new infrastructure will benefit local retailers and local manufacturers, effectively financing their eCommerce competitiveness and ensuring survival of the economic fabric of their city / region / province / country.
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After seven months of responding to the pandemic, we have learned some things. Here are some of the key lessons and how to apply them.
Farid Mheirs insight:
WHY IT MATTERS: never waste a good crisis. Well if this is true, then companies that will find solutions to tackle the health interventions highlighted by McKinsey should have a bright future. In many cases, digital technologies will be at the center of those solutions...
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The mind-bending bigness of Neuralink’s mission, combined with the labyrinth of impossible complexity that is the human brain, made this the hardest set of concepts yet to fully wrap my head around—but it also made it the most exhilarating when, with enough time spent zoomed on both ends, it all finally clicked. I feel like I took a time machine to the future, and I’m here to tell you that it’s even weirder than we expect.
Farid Mheirs insight:
WHY IT MATTERS: this long read is an easy to read starter on the brain, how it evolved and how it works. An essential primer for understanding the profound impact that neuralink can have in the long term future (think decades). Neuralink product demo of Aug 28, 2020: www.youtube.com/watch?v=DVvmgjBL74w Also this provides good background for then reading "on intelligence", "how to create a mind" or "superintelligence"
pokolom8@gmail.com's curator insight,
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Through thoughtful design, agile and lean management can be the perfect match for companies in search of lasting performance improvement.
Farid Mheirs insight:
WHY IT MATTERS: this article helps positions the strengths and weaknesses of lean and agile to highlight where each fits best in an organization.
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we’re in a period of both forced experiment and forced experimentation. In January everyone was online and willing to try anytime online: now we have no choice. So, some of this is the future happening more quickly, with years of growth being pulled forward, but some of it also is an experiment that won’t stick. We’ll find out which in the next six months or so.
Farid Mheirs insight:
WHY IT MATTERS: ecommerce has surged during covid lockdown. Data now proves what we've all assumed: covid lockdown has accelerated eCom growth in a few months. Now the question is: what will remain after the pandemic is over? Will consumer adopt eCommerce more or be happy to go back in store? My take is that - consumers will keep using eCom *if* we can reduce delivery costs as they make eCommerce unprofitable for most retailers - an economic recession or depression (or government financial crisis) may see consumers go back to stores as they look for savings which are more often than not found in large stores, rarely in eCommerce - categories probably will behave differently in the recovery, consumers being more price conscious on grocery than they are on clothing or appliances or other
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Curated by Farid Mheir
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WHY IT MATTERS: I don't pay for much content these days but I did for Benedict Evans newsletter because he sits - as I do - at the confluence between technology and business and often, as in this quote, coins the issues in a few words.