Is Your Business Ready for Digital Transformation?
A digital strategy is pivotal to the changes businesses need in the future. Embracing new technologies, and improving your human capital’s digital IQ are two critical components to articulate your long-horizon business strategy.
To venture into unchartered territory in such volatile times, businesses need to innovate and the digital imperative is an important one to get right, albeit almost immediately. As such, confronting three key questions below can help you formulate your own winning digital strategy.
Where is my industry headed?
Knowing where your industry is heading will give you a heads up in order to prepare for the circumstances breaking ground in the future. The industry your business operates in is changing because there are better ways to deliver products and services. However, if you haven’t hopped on the “change” band wagon yet, you could sorely miss out on the biggest opportunity that may presents itself in the future.
Where can my business gain advantage in that future?
Having good tactical nous always resonates well with business planning. Your business is moved by the skills and advantages that you have. Therefore, you need to be cognizant of the boundaries that may threaten your business advantage in the future, and in the case of digital disruption, which emerging technology is replacing the skills you have at present. At The Codian, we are strong advocates of creativity as a key enabler to empower your business growth. The lack of creativity, oftentimes results in impaired decision-making—whereas a creative alignment gives businesses a leg up to untangle would-be problems that may surface in the future.
How do I move forward and adapt along the way?
Ultimately, businesses need to take into account what they need to do well in order to pursue relevant business opportunities today as well as those that put the business on the path towards the future. In short, understanding what digital tools your business needs—both for today and tomorrow—is the first step in this transformation.
A New Kind of Normal with Code of Origin
With the Movement Control Order in place, Malaysians under quarantine are spending time online now more than ever. In an effort to remain connected to the outside world, people from all walks of life are glued to digital media while working from home, and staying…
Solving the Society’s Problems is Now Businesses’ Business
In an article published by Reuters back in April, it was reported that as businesses with a mission to do good become increasingly trendy, social entrepreneurs said they were finding it harder than ever to tackle one of their major problems—explaining what they do. In…