
Chasing Digital
Description
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The paradigms of big business have changed. Business models that were once lucrative now seem to barely move the needle. Incumbents of the old guard find themselves superseded by new, digitally-charged, data-fuelled organisations that leverage platform-based business models. How can pre-digital businesses survive? They're loaded with resources, brand power and deeply embedded networks, they just need a new playbook. Chasing Digital is that playbook.
Outlining a clear and detailed framework, this book is designed to help leaders re-design their organisation from the bottom up by leveraging their strengths to create a new competitive advantage in the digital economy. From laying the foundations of transformation: developing a considered strategy, growing a conducive culture and building a receptive organisational design; to building core digital capabilities: taking advantage of data, harnessing artificial intelligence and embracing appropriate platforms; to adapting the accelerators of change: navigating board expectations, mitigating potential roadblocks and making the right investments, this playbook will give you the tools and mindsets needed to not only survive but to thrive and leave a legacy for future leaders.
* Integrate technology into your business strategy and culture
* Prioritise and manage your company's digital transition
* Create opportunities for fast and intentional digital growth
* Learn how to minimise friction with stakeholders
Cut through the jargon and hype, and focus on what is critical to undertaking a truly successful, company-wide, digital transformation. In a world where digital is changing everything, Chasing Digital will help your organisation to transition beyond old business models to adopt the new digital paradigm and a new era of business. Embrace the chase.
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Content
- Intro
- Chasing Digital
- Contents
- Preface
- A note from Anthony
- A note from Louis
- As co-authors
- Acknowledgements
- Introduction: The Fourth Revolution
- Why this book, and why now?
- A step-by-step guide to digital transformation
- So what will this book give you?
- Creating a long-lasting legacy
- The Chasing Digital Three-Part Framework
- Part I: The big decisions
- Part II: Digital enablers for transformation
- Part III: Accelerating change
- Part I The big decisions
- CHAPTER 1 Strategies for success
- The old model
- One giant juggling act
- Reconstruct your castle
- Value chains and the law of conservation of attractive profits
- Demand-side and supply-side economies of scale
- Applying these strategies to your castle
- Widen your moat
- Five moat features that no longer differentiate
- Three traditional winning moats
- Digital moats: the flywheel revisited
- Chapter summary
- CHAPTER 2 Organisational design
- When your primary engine runs out of fuel
- The ultimate pivot
- Engine A
- Engine B
- Support and empower your Engine B team
- Software must be at the heart of Engine B
- A digital, data-driven mindset is key
- Start on the demand side with the customer
- Chapter summary
- CHAPTER 3 Culture
- Will your culture help or hinder?
- The cornerstones of a digital culture
- Free flow of information
- Customer focus
- Agility
- Inquisitiveness
- Employee experience and engagement
- Building a digitally mature team
- Start with visible leadership
- Bust the silos
- Educate
- Decentralise decision making
- Encourage team diversity and candour
- Focus on delivery
- Chapter summary
- Part II Digital enablers for transformation
- CHAPTER 4 Data
- Three things you need to know about data
- Granularity
- Source and the connections within
- Quality and completeness
- Data on wheels
- The application of thick data
- A framework to harness and apply data
- 1. Start with strategy
- 2. Identify and validate supporting scenarios
- 3. Prioritise based on return on investment
- 4. Get the data
- 5. Determine the economic value of your data
- Three areas where data can drive growth
- Using data to improve decision making
- Improving operations
- Monetising data as a valuable asset
- Chapter summary
- CHAPTER 5 Platforms
- The network effect of platforms
- A platform crash course
- The birth of platform companies
- The power of aggregation
- Complements and openness
- From pipeline to platform
- Building the platform
- Managing inside out
- 1. Resource orchestration
- 2. Creation to facilitation
- 3. Ecosystem value
- Measuring success
- Chapter summary
- CHAPTER 6 Systems of intelligence
- The rise of machine learning
- Supervised learning
- Unsupervised learning
- Reinforcement learning
- The perfect companion to your data
- Five crucial factors in applying AI successfully
- Creating a system of intelligence
- Understand
- Identify
- Rank and plan
- Execute and monitor
- Assembling your team
- The five Vs of big data
- Constructing a highly defensible moat
- Vertical expertise
- Personalisation at scale
- Man and machine
- Network intelligence
- Integration intelligence
- Chapter summary
- Part III Accelerating change
- CHAPTER 7 Investment management
- The three types of innovation
- Disruptive innovation
- Sustaining innovation
- Efficiency-BASE D innovation
- Balancing short-term returns and long-term investments
- The investor's mindset
- Create a culture of innovation
- Move faster
- Encourage investment efficiency
- Chapter summary
- CHAPTER 8 Technology risk management
- Navigating the new rules of cybersecurity
- Ensure control and consistency of customer data
- Refresh internal controls and policies
- Trust and respect the cloud
- Software engineering quality is critical
- People are your greatest risk
- Open-source software may be your friend
- Busting the myths of cloud computing
- Some applications don't run on the cloud
- The legal and risk hurdles are too high
- It will cost more
- We already have our own private cloud
- It's only for development, testing and new projects
- Chapter summary
- CHAPTER 9 Advice for boards and directors
- Secure support from the board
- Make your case
- Re-examine the big decisions
- Create balance between the board and CEO
- Appoint digital experts
- Encourage diversity and fresh thinking
- Address technology risk management at board level
- Create a technology advisory board
- Appoint a digital executive to the audit or risk committee
- Chapter summary
- Conclusion A cornucopia of opportunity
- Invest in the future
- Embrace the chase
- Sources
- Index
- EULA
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