For many organisations, the Covid-19 pandemic has propelled digital initiatives to ensure they are up to date with the latest technological advances to help streamline their strategy. Not to be mistaken for a long-term competitive strategy, digital initiatives help businesses remain competitive in their market by keeping up with the current technology other organisations in similar positions will be using.
As Managers start to consider what work-life will look like for their teams as the Corona-virus restrictions start to lift and ease, pressure is building to create new ideas on how the different tech can be implemented to create a bigger competitive advantage than the other organisations in the market. Simply implementing tech initiatives and hoping for the best is not a strategy that will create value for your customers.
Organisations need to take a look at the bigger picture and imagine how the past year has evolved consumer behaviour and buying habits, and more importantly, how they can embed these into their strategy. Re-define your organisation to enable new ways of utilising your digital initiatives to create a fresh new model of value creation. However, this does not mean you have to start from scratch. Scaling back the core capabilities of the organisation combined with new ideas will provide a wealth of directions your business can explore through devised strategies.
To be successful when digitising, organisations should aim to exploit the technology rather than using it in a similar fashion to its competitors. Make it relevant to YOUR company. Aligning the technology to benefit an organisations mission, value and purpose can excel your business model into the post-covid market.
Digitisation in isolation is simply not enough to remain competitive. However, combining it with a more robust business transformation will navigate teams to become leaders in the digital age.
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