The 7 key components of a digital transformation strategy – I by IMD
Mastering future readiness.
Online information session to learn more about the IMD Executive MBA program.
Master digital analytics to drive innovation.
Boost resilience. Restore wellbeing.
Measuring 30 economies’ readiness and capacity to participate in the global trading system in a manner that supports the long-term goals of economic growth, environmental protection, and societal development.
The IMD Alumni Network is a widespread but close-knit global community in a tightly interconnected and complex business environment.
The digital revolution has been a game changer in the business world. New digital technology offers a toolset to companies wanting to offer more to their customers and increase their profits.
The digital transformation journey happens when companies begin using computer software and artificial intelligence (AI) tools to change how their companies operate. The goal is to use these new tools to modify existing processes, help companies adapt to market changes, and better meet customer needs.
However, some companies may experience difficulties in developing a roadmap for this shift. This guide will cover how to overcome those difficulties and successfully implement a digital strategy in your organization.
You may not feel that digital transformation is worth the investment, but it’s a key aspect of any modern business strategy. It offers many benefits that can help you stay competitive, including:
Here are the top seven digital transformation strategies recommended by business leaders to help your organization evolve in this digital age.
As you transform your business to use digital tools, you’ll rely heavily on the internet to get more done. But this also exposes your company to cyber threats like viruses, malware, and phishing.
Having a risk-averse digital transition means putting measures in place to secure your environment and mitigate potential cybercrime. Here are some ways to keep data safe and secure to protect your business.
Investing in new tech costs money, which can cause some hesitation. But with how impactful these tools are, funding their research and development (R&D) makes sense and can take your business to a higher level. Here are two more ways to improve your R&D efforts:
As two-thirds of companies plan to invest more in digital technology and software in 2023, competition for digitally savvy talent will grow as well. And when you need the best minds to succeed with digital transformations, you need experts in relevant fields like data science, AI, and IT.
Finding the right talent for the transformation process means creating an appealing environment for tech professionals and providing the resources needed to make effective changes. These might include offering flexible remote or hybrid work arrangements and periodic professional development opportunities. Other helpful tips are to:
The right technology should support users and simplify everyday business workflows – but that won’t happen if your systems aren’t user-friendly. They need to work well and integrate seamlessly into your business. Here are some key best practices:
Cloud computing and data analytics let you extract patterns and trends from big data. New machine learning AI applications can read large amounts of data, analyze it to find patterns and trends, and extract information your business can use to meet your key performance indicators (KPIs) and drive revenue growth. Here are some of the best ways to do it:
You may need to convince stakeholders and team members to embrace digital technologies and integrate digital transformation initiatives into your company’s culture and policies.
Although you might initially face resistance to this culture change, it can help to gradually encourage buy-in. Convince people that adopting these new tools will make their jobs easier and make your business more efficient and resistant to future market shifts.
Digital business technology plays a huge role in business today, and ignoring its many benefits can leave you behind your competitors. Don’t wait to create a digital transformation roadmap for your organization.
Let us show you how to lead your organization through uncharted territory. Our programs are designed to help you embrace digital disruption as an opportunity so you can transform your business to adapt to today’s globally connected virtual world. Explore our digital transformation programs and see what successful digital transformation can do for your organization.
International Institute for
Management Development
Ch. de Bellerive 23
P.O. Box 915
CH-1001 Lausanne
Switzerland
+41 21 618 0111
IMD SE Asia Pte. Ltd
Rochester Commons
1 Rochester Park
#02-01
Singapore 139212
+65 6715 9988
Asia Campus
Management Development Hub
823, Han’s Science and
Technology Center,
No.9988 Shennan Avenue,
Nanshan, Shenzhen, China
中国深圳市 南山区 深南大道
9988号 大族科技中心 823
IMD SE Asia Pte. Ltd
Rochester Commons
1 Rochester Park
#02-01
Singapore 139212
+65 6715 9988
Asia Campus
© 2006-2024 IMD – International Institute for Management Development
IMD complies with applicable laws and regulations, including with respect to international sanctions that may be imposed on individuals and countries. This policy applies to all applications for IMD programs from individuals or organizations, and any commercial or non-commercial partnerships.
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
Online information session to learn more about the IMD Executive MBA program.
Master digital analytics to drive innovation.
Boost resilience. Restore wellbeing.
Measuring 30 economies’ readiness and capacity to participate in the global trading system in a manner that supports the long-term goals of economic growth, environmental protection, and societal development.
The IMD Alumni Network is a widespread but close-knit global community in a tightly interconnected and complex business environment.
The digital revolution has been a game changer in the business world. New digital technology offers a toolset to companies wanting to offer more to their customers and increase their profits.
The digital transformation journey happens when companies begin using computer software and artificial intelligence (AI) tools to change how their companies operate. The goal is to use these new tools to modify existing processes, help companies adapt to market changes, and better meet customer needs.
However, some companies may experience difficulties in developing a roadmap for this shift. This guide will cover how to overcome those difficulties and successfully implement a digital strategy in your organization.
You may not feel that digital transformation is worth the investment, but it’s a key aspect of any modern business strategy. It offers many benefits that can help you stay competitive, including:
Here are the top seven digital transformation strategies recommended by business leaders to help your organization evolve in this digital age.
As you transform your business to use digital tools, you’ll rely heavily on the internet to get more done. But this also exposes your company to cyber threats like viruses, malware, and phishing.
Having a risk-averse digital transition means putting measures in place to secure your environment and mitigate potential cybercrime. Here are some ways to keep data safe and secure to protect your business.
Investing in new tech costs money, which can cause some hesitation. But with how impactful these tools are, funding their research and development (R&D) makes sense and can take your business to a higher level. Here are two more ways to improve your R&D efforts:
As two-thirds of companies plan to invest more in digital technology and software in 2023, competition for digitally savvy talent will grow as well. And when you need the best minds to succeed with digital transformations, you need experts in relevant fields like data science, AI, and IT.
Finding the right talent for the transformation process means creating an appealing environment for tech professionals and providing the resources needed to make effective changes. These might include offering flexible remote or hybrid work arrangements and periodic professional development opportunities. Other helpful tips are to:
The right technology should support users and simplify everyday business workflows – but that won’t happen if your systems aren’t user-friendly. They need to work well and integrate seamlessly into your business. Here are some key best practices:
Cloud computing and data analytics let you extract patterns and trends from big data. New machine learning AI applications can read large amounts of data, analyze it to find patterns and trends, and extract information your business can use to meet your key performance indicators (KPIs) and drive revenue growth. Here are some of the best ways to do it:
You may need to convince stakeholders and team members to embrace digital technologies and integrate digital transformation initiatives into your company’s culture and policies.
Although you might initially face resistance to this culture change, it can help to gradually encourage buy-in. Convince people that adopting these new tools will make their jobs easier and make your business more efficient and resistant to future market shifts.
Digital business technology plays a huge role in business today, and ignoring its many benefits can leave you behind your competitors. Don’t wait to create a digital transformation roadmap for your organization.
Let us show you how to lead your organization through uncharted territory. Our programs are designed to help you embrace digital disruption as an opportunity so you can transform your business to adapt to today’s globally connected virtual world. Explore our digital transformation programs and see what successful digital transformation can do for your organization.
International Institute for
Management Development
Ch. de Bellerive 23
P.O. Box 915
CH-1001 Lausanne
Switzerland
+41 21 618 0111
IMD SE Asia Pte. Ltd
Rochester Commons
1 Rochester Park
#02-01
Singapore 139212
+65 6715 9988
Asia Campus
Management Development Hub
823, Han’s Science and
Technology Center,
No.9988 Shennan Avenue,
Nanshan, Shenzhen, China
中国深圳市 南山区 深南大道
9988号 大族科技中心 823
IMD SE Asia Pte. Ltd
Rochester Commons
1 Rochester Park
#02-01
Singapore 139212
+65 6715 9988
Asia Campus
© 2006-2024 IMD – International Institute for Management Development
IMD complies with applicable laws and regulations, including with respect to international sanctions that may be imposed on individuals and countries. This policy applies to all applications for IMD programs from individuals or organizations, and any commercial or non-commercial partnerships.
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
