What future for the 5 year plan when whole industries are transformed in months?
There is no longer a need to create 5 year corporate plans, when whole industries are disrupted and changed within 12 months. There are numerous examples of this, Uber disrupting the taxi industry, Airbnb disrupting the hotel industry, Facebook disrupting the publishing industry. All 3 are great examples of how platform companies disrupt traditional companies, disregarding of industry.
Banks, hotel chains and all other companies globally are all doing the transformation to becoming technology companies.
It’s ironic how everyone talks about the fourth industrial revolution (and all the other buzz words) how all companies need a strategy and a roadmap for how to best take advantage of the digital opportunities and threats and yet research shows that a small percent of boards and management teams actually have digital as a priority or even worse, you have it as a priority and you have the strategy, but you don’t know how to start executing on it.
People and technology must go hand in hand for a successful digital transformation
When looking at companies such as Amazon, Facebook and Google, there is a cause for concern when digital is not important enough for many within management and board members. People and technology must go hand in hand in a successful transformation of any company and to survive the next 5-10 years in a highly disruptive the corporate world.
There is no longer a need to create 5 year corporate plans, when whole industries are disrupted and changed within 12 months. There are numerous examples of this, Uber disrupting the taxi industry, Airbnb disrupting the hotel industry, Facebook disrupting the publishing industry. All 3 are great examples of how platform companies disrupt traditional companies, disregarding of industry.
Banks, hotel chains and all other companies globally are all doing the transformation to becoming technology companies.
It’s ironic how everyone talks about the fourth industrial revolution (and all the other buzz words) how all companies need a strategy and a roadmap for how to best take advantage of the digital opportunities and threats and yet research shows that a small percent of boards and management teams actually have digital as a priority or even worse, you have it as a priority and you have the strategy, but you don’t know how to start executing on it.