market evolution

Organisations, large and small, across most industries are struggling with marketplace changes due to digital transformation. Living with the fear that their organisation or industry will be the next to be disrupted by a smaller, newer organisation that doesn’t have the baggage, the inertia and the inherent constraints of an established business.

Largely, the approach to this competitive threat has been to buy “technology to ‘digitally transform’ the business…” only to find that whilst the technology does everything the vendor said it would, it hasn’t really helped the organisation and worst of all, its purchase and implementation has depleted the funds put aside to “ensure the competitiveness” of the organisation and wasted time, allowing other organisations to make in-roads into the market.

So, what went wrong?  Other companies are “digitally transforming” and they seem to be doing ok.  Why didn’t we get the same or even similar result?

The answer to this question is rooted in the past, most likely at some point in time your organisation said “We need ‘Technology X’ to transform our business, it will solve the problem, it has all of the features we need….” 

To put it simply, the problem that was being solved was the wrong problem, technology may be the enabler your organisation needs, however, it’s unlikely to be the actual solution to the problem.

Clearly, what worked in the past, doesn’t necessarily work today.  Organisation’s need to evolve their thinking to keep pace with the evolution of expectations in the market.