Not only about keeping technical excellence or process efficiency; but also about being able to get all the way around the task and rethink the alternative ways to solve today’s complex problems.
Change is part of reality; predicting and preparing the next level of business transformation is an iterative learning and doing continuum. You’re accepting risk for potential reward. To not only survive today but also thrive for the long term, organizations need to keep one eye on today’s performance and the other eye on unlocking business potential.
Organizations not only have enriched context, being able to read digital sentiment insightfully, but also set the guidance for creating something new under a set of guidance: Business is complex, global professionals need to become more open-minded, inclusive, and show intellectual curiosity to embrace a variety of perspectives, enjoy diverse people, culture, knowledge, read digital sentiment fluently, lubricate cross-boundary interactions, co-develop change agenda, and overcome common challenges. Ask questions, become part of solutions to things bigger than each one of us; it means, priority matters, it’s critical to know what is important, what to focus on.
Besides hard business components, there are soft success factors. The real impact of making the invisible visible, and then measurable, comes when companies find ways to leverage business sentiment to initiate meaningful dialogues, open communication channels up, down, and across the enterprise, set the guidance for problem-solving or creating something new, keep information flow, and achieve a state of dynamic balance.
Organizations not only have “me too” type competitive necessity but also should build differentiated business competency: Capability management, in essence, consists of a portfolio of capabilities that are used in various combinations to achieve great outcomes. Competitive necessity is to keep the bottom line; focus on meeting customer expectations and delivering what the business asks for; while competitive uniqueness allows the business to achieve the art of the possible, make you shine even on a rainy day.
A clear understanding of what capabilities, services or solutions are supporting your competitive advantage is needed in order to build unique competency. It often takes the linear step for tuning the enterprise machine and ensuring it keeps spinning. On the other hand, the transformational capability can often make a leap for achieving the high -performance business results. It provides the opportunity to think of new ways to do things; it helps the business differentiate itself from competitors.
Not only measure quantity, but also evaluate quality to harness leadership, improve business advantage: Assessing business performance is both art and science. It is a common practice to evaluate digital fitness in order to maximize it. Choose the right metrics by deciding which are seen as critical to make the progress in delivering high performance results. Metrics are not the end-all solutions to business management, but simply another set of tools and information to be used for producing better business results. What gets measured, gets managed. Not just about the quantitative results which sometimes can mislead the management with a short-term perspective; but also quality assessment of invisible business success factors for long term organizational maturity. Culture and brand are the most important “soft” elements that a company has to assess periodically since they will define how the company interacts with its various stakeholders, whether they can reach the next level of business maturity.
In well-established organizations across the vertical sectors, there are complex business rules, policies, processes, and performance systems that govern how people operate. This probably means that organizations are going to have to get not only the “hard numbers” right but more importantly, how to manage the intangible elements in business from the beginning. Not only from the financial results, but also from the involvement and signs being displayed inside the organization, about what guidance, values, and principles governing. Move the purpose of performance reviews away from “evaluating” the past, to improving success in the future. Shift from an administrative past-driven performance management process to an interactive future-driven performance scenario.
Without continuous envisioning of a better future, organizations will become short-sighted, static, and become irrelevant sooner or later. Digitalization represents the next stage of business maturity, which is not only about technical excellence or process efficiency; but also about being able to get all the way around the task and rethink the alternative ways to solve today’s complex problems, keep the business synchronized to ensure that every part of the organization operates in harmony to take a digital leap.