The drumbeat of digital: How winning teams play
Pace and power go hand in hand for digital leaders, which typically run four times faster and pull critical strategic levers two times harder than other companies do.
By Jacques Bughin, Tanguy Catlin, and Laura LaBerge – Most executives we know have a powerful, intuitive feel for the rhythm of their businesses. They know how hard and fast to pull strategic levers, move their organization, and drive execution to achieve their objectives. Or at least they did. Digitization has intensified the rhythm of competition in many industries, leaving executives adrift, with information-gathering systems that are too slow or disconnected, direction-setting approaches that are too timid, and talent-management norms that are misaligned and incremental.
These leaders know their companies must adjust and accelerate. Digital is putting pressure on profit pools as it transfers an increasing share of value to consumers. Furthermore, those profit pools are bleeding across traditional industry lines as advanced technologies enable companies to forge into adjacencies, changing who in the value chain is making money, what share of the pie they capture, and how. The slow and inefficient are left behind, competing for scraps.
What is unclear to these executives, however, is how much and how fast to adapt their business rhythms. The exhortation to “change at the speed of digital” generates more anxiety than answers. We have recently completed some research that provides clear guidance: digital leaders appear to keep up a drumbeat in their businesses that can be four times faster, and twice as powerful, as those of their peers.
You can’t quicken the pace of an organization by fiat. You have to build it by accelerating the frequency of manageable practices that are integral to achieving key goals, such as serving the customer or driving internal efficiency. These “light-touch” actions are low risk and low investment, but they can provide high-yield returns. We have grouped them into two buckets that can help mold incumbents into digital players.
How often does your organization analyze customer data to look proactively for new ways of delighting your customers?
How frequently do your senior business leaders take time to investigate and understand new digital technologies so that they recognize which ones are truly relevant to their areas of the business?
How quickly and consistently does your company share lessons acquired from test-and-learn experiments performed by those on the front lines? more>
Posted in Broadband, Business, Economy, Education, How to, Net
Tagged Business improvement, Jobs, McKinsey, Organization, Skills, Teams
Tomorrow’s cities: evolving from “smart” to Adaptive
Cities are going smart – trying to deal with the proliferation of people, sensors, automobiles and a range of devices that demand network access and generate mind-boggling amounts of data. However, being smart is not an instance in time, and a “smart city” is not static. To be worthy of the name, a smart city must continually evolve and stay ahead of demand. This is only possible if the city’s underlying network is just as smart and can adapt to its constantly changing environment.
By Daniele Loffreda – Cities are constantly in flux. Populations move in; populations move out. Demographics change, economic growth falls and then soars. New leadership steps in and—if you believe all the commercials—technology will make everyone’s life better.
Municipal governments understand the need to consider which smart city applications will best serve the demands of their diverse demographic segments. The City of Austin’s Head of Digital Transformation, Marni White, summed up these challenges stating, “Our problems will continue to change over time, so our solutions also need to change over time.”
The one constant in the smart city is the network running underneath these solutions—and the truly smart city has a network that adapts.
Smart city applications must be aligned with where a city and its citizens want to go. Some municipalities that created model smart-cities early on have had to initiate extensive revamping. For example, the City of Barcelona has long been at the cutting edge of using digital devices and the Internet of Things to improve municipal operations; however, in 2017, Mayor Ada Colau gave Barcelona’s CTO, Francesca Bria, a mandate to “rethink the smart city from the ground up.”
This meant shifting from a “technology-first” approach, centered on interconnected devices, to a “citizen-first” focus that responds to the changing needs that residents themselves help define. more>
Posted in Broadband, Business, Communication industry, Economic development, Economy, Education, How to, Net, Product, Science, Technology
Tagged Business improvement, Ciena, Fiber optics, Internet, Organization, Productivity, Super regions