Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world’s largest accommodation provider, owns no real estate. Something interesting is happening. by Techcrunch, March 2015
Digital Transformation - Take your business from digital ready to digital first
Digital Storm is fundamentally changing business. To succeed in this disruptive environment, organizations will need to offer new experiences, establish a new business model, and devise new ways of thinking. It requires learning and adapting in engineering departments, software development teams, and IT organization.
Business executives will face a hard choice: Either digitally reinvents their enterprises or watch as their businesses decompose around them. However, most transitions fail because the companies and executives underestimate the complexity, cultural resistance, internal stakeholders' power.
Customers are coming to expect not only best-in-class digital experience through products or services from manufacturers but also new ways of communication, cultural behavior, passion from key executives (like Richard Branson - Virgin).
Even the most established and well-run companies often underestimate the challenges in making the transition in technology and business model.
Advice is everywhere: Engage with customers in early, low-cost, ’lean startup’ way: Minimize the scope and time it takes to run experiments that are using the new wave of startup theories.
Cornerstones of the digital economy
- The Vision or ’Why’ - the reason your product or service exists.
The people don’t buy what you do. People buy WHY you do it! by Simon Sinek
That’s why what we’re selling is organizational transformation. The software just happens to be the part we’re able to build & ship (and the means for us to get our cut). We’re selling a reduction in information overload, relief from stress, and a new ability to extract the enormous value of hitherto useless corporate archives. We’re selling better organizations, better teams. by Stewart Butterfield / Slack Pre-Launch Employee Memo /
Jeff Bezos Maintains Amazon’s Killer Company Culture
Many companies describe themselves as customer-focused, but few walk the walk. Most big technology companies are competitor focused. They see what others are doing, and then work to follow fast.
Bezos displays a willingness to fail: One area where I think we are especially distinctive is a failure. I believe we are the best place in the world to fail (we have plenty of practice!), and failure and invention are inseparable twins. To invent you have to experiment, and if you know in advance that it’s going to work, it’s not an experiment. Most large organizations embrace the idea of invention, but are not willing to suffer the string of failed experiments necessary to get there.
- Design Thinking – Learn Experience Design
Invest in Design and get excellent ROI
In the world of digital products, the future is very hard to predict. To be successful in creating digital products you have to reduce the risk of failure but it’s almost impossible to do that. by Design Sprint O'Reilly 2015
IBM statement: At IBM, we define design as the intent behind an outcome. We use design thinking to form intent by developing understanding and empathy for our users.
Applying design thinking at the speed and scale the modern enterprise demands. It’s a framework for teaming and action. It helps teams not only form intent but deliver outcomes—outcomes that advance the state of the art and improve the lives of the people they serve.
Make users your North Star!
Immerse yourself in the real world:Meaningful outcomes come from an understanding of the real problems your users have. Understanding requires us to develop empathy that can only be gained by immersing yourself in the world your users inhabit.
How design helps cross-culture business: A well-designed reputation system is a key to building trust. Design helps to be Loved: Airbnb in Berlin and helps involve your community: Create Airbnb lets you make your own symbol of belonging to represent your home, your adventures on, your story of Airbnb.
- We are all digital Startups now
A vision should be stable, but your strategy needs to be iterated on and refined until you find product/market fit.
In the mobile world, you don’t win customer on technology. You win on better experience by gokart labs 2015.
Service Design Tools: Over the years, service designers have developed blueprints and tools for placing the customer and service stakeholders at the heart of service design and innovation projects. Customer Experience (CX) is a collection of ingredients and recipes to design delicious customer experiences.
Startup Secrets: If you’re not solving a valuable problem, you’re unlikely to build any great value.
Is the problem Unworkable? Does your solution fix a broken business process where there are real, measurable consequences to inaction? Will someone get fired if the issue is not addressed?
Is fixing the problem Unavoidable? Is it driven by a mandate with implications associated with governance or regulatory control? For example, is it driven by a fundamental requirement for accounting or compliance?
Is the problem Urgent? Is it one of the top few priorities for a company? In selling to enterprises, you’ll find it hard to command the attention and resources to get a deal done if you fall below this line.
Is the problem Underserved? Is there a conspicuous absence of valid solutions to the problem you’re looking to solve? Focus on the whitespace in a market or segment.
Create a Culture Map: A Systematic & Intentional Tool For Designing Great Company Culture. Dave Gray, the author of The Connected Company, developed The Culture Map as a tool to design better performing companies.
- Digital disruption is shifting business model design from a focus on product profitability to a stronger focus on customer experience and value.
In the ends, the best customer experience wins, no matters who makes it – Accenture
Outperforming in a digital world: The emergence of social, mobile, big data & analytics and cloud is fundamentally changing how we live, work and interact. These digital forces reset customers’ expectations, requiring enterprises to rethink the end-to-end customer experience, and are fueling an explosion of data—a new economic asset that has become the basis of significant opportunity.
Organizations are experiencing unprecedented digital change that is driving the evolution of business. Nimble digital competitors are establishing footholds in long-established markets overnight. Also, technology forces are creating new customer experiences and disrupting traditional operating models. The speed of embracing digital is now a critical factor to survival.
4P’S ARE OUT 4E’S ARE IN
The Change is disrupting some age-old marketing fundamentals
From Product to Experience
From Place to Everyplace
From Price to Exchange
From Promotion to Evangelism
- TRUST for digital economy
Blockchain technology: Redefining trust for a global, digital economy trust bearing and encapsulating of the value of money throughout history.
Just as importantly, blockchain technology will facilitate the future that technologists, governments and businesses are already planning for. Many believe the Internet of Things (IoT), in which potentially hundreds of billions of devices will transact and share information across a complex array of communication lines, will be insecure and inefficient unless it’s built on a blockchain structure. (IBM report)
Customers don’t see departments; they see one brand. These new “digital strategists” serve to optimize the entire customer journey and aid in delivering real results against over-arching business goals. That’s the essence of digital transformation.
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