In this day and age, every type of company needs to start thinking like a technology company or risk experiencing the full brunt of digital disruption. That new tech-minded mentality needs to inform how even the most staid traditional organization interacts with customers, partners, and suppliers, as well as even the most workaday internal business process, warns Braden Kelley, director of innovation and human-centered problem-solving at Oracle in a piece for Innovation Excellence.
“You must look at your business and your industry in the same way that a digital native startup will if they seek to attack you and steal your market,” he explains.
But how do executives and digital managers stuck in old-world thinking start to transform their mindset for the digital world? It’s much easier said than done. According to Kelley, the journey should start with executives asking themselves five foundational questions:
- If I were to build this business today, given everything that I know about the industry and its customers and the advances in people, process, technology, and tools, how would I design it?
- From the customers’ perspective, where does the value come from?
- What structure and systems would deliver the maximum value with the minimum waste?
- What are the barriers to adoption and the obstacles to delight for my product(s) and/or service(s), and how will my design help potential customers overcome them?
- Where is the friction in my business that the latest usage methods of people, process, technology, and tools can help eliminate?
As Kelley notes, there are plenty more questions from here but the answers to these five questions offer a huge jump start in initial strategic planning for a true digital transformation.