Don't Neglect Change Management,
It Will Make or Break Your Digital Transformation
The definition of transform is defined as “to change in composition or structure or to change in character or condition.”
Elevating that to transformational change would be redefined as a change so significant it requires a paradigm shift which changes a set of concepts or theories. In other words it’s changing the way you work entirely; from office environment to daily tasks.
Digital transformation requires the ability to deliver multiple changes and from the ground up; this is from your LOB staff to your C-suite in Marketing to Operations to IT. If you’re incapable of managing that change, you will fail.
“The hardest part of digital disruption is not the technology, the technology is already here. It’s managing a business through change. There are 100 reasons not to do something, the most important thing is to get started.” – Safra Catz
Here are 3 reasons why you can’t neglect change management:
I. Culture Shift
The future of digital and innovative success depends on the agility of behaviors, attitudes and habits of employees. In other words, a cultural shift and that starts with your people. Digital transformation is an end-to-end business strategy requiring input and change from all departments in a business but culture trumps strategy every time. If your team’s culture is not budging, the strategy won’t come through the other side.
II. Happy Employees = Happy Customers
As we move to become customer centric businesses, the number one factor missed in the equation is the tie between the brand and the customer, your employee. The personal interaction is an expectation now and what happens when your employee isn’t your own advocate? Or a negative employee attitude or behavior reflects on the customer? Employee approaches ultimately determine the outcome of your customer’s interaction. You need to equip employees for success which means removing any obstacles to tools, ensure easy access to resources and create credence amongst the teams. Here are four ideas to help get your team on board for change.
III. Internal Failure Costs
What’s the opportunity cost of failure? The size of the project is not as significant as the reason. For example, it could be a $1 million product that your employees don’t use or a $1 billion transformation program that isn’t implemented correctly. Technology alone is not enough. The purpose of your project should be engrained in your strategy and managing the change effectively, will positively alter the course of the outcome.
Don’t forget the ultimate goal, the light at the end of the tunnel, small success is still success and continue to adapt.
Cloud and Blockchain,
the Next Disruptor
You may be wondering "What is Blockchain?" Unless you're in finance, you're probably just getting a taste of this word. It was originally devised in 2008 as a cryptocurrency but now is a more mature, tamper-proof communication and transaction tool. To date, it's valued at almost $9B and continues to make other types of digital value such as secure medical records. Records where you would be the primary key holder but when you're ready to share them you can create a 'guest' key. Blockchain has the capability to keep every entity/person at the highest level of accountability. No human errors or missed transactions, and updating every 10 minutes.
Why is it the next disruptor? Blockchain is from user-to-user or peer-to-peer, the ulitmate collaboration. Finance has the greatest case for its use at this time, yet any industry will see its benefits. Goldman Sachs believes Blockchain could represent a global savings of up to $6B per year. Blockgeeks.com has several ideas for the "new web"; from governance to neighborhood microgrids.
“2017 will be a pivotal year for blockchain tech. Many of the startups in the space will either begin generating revenue – via providing products the market demands/values – or vaporize due to running out of cash. In other words, 2017 should be the year where there is more implementation of products utilizing blockchain tech, and less talk about blockchain tech being the magical pixie dust that can just be sprinkled atop everything." -George Howard, Associate Professor Brown University, Berklee College of Music and Found of George Howard Strategic
That said, how will the rising concern of security be addressed? The IoT seems to present us with ultimate vulnerability, anything with a sensor can be imperil. Blockchain is positioned as the secure solution for it's network strength. As readwrite put it, it's "like the chain of custody in criminal cases. It provides a reliable body of evidence because every transaction is identified and time-stamped." Cloud architecture is vulnerable because it is centralized; as mentioned before, Blockchain is a network of users using a system of connected devices. Hackers now take control of one device and have access to many but in a system where each user/device is "in control", hackers would have to crack each individual device.
Blockchain could be what we need to restore trust in the cloud.
Thanks blockgeeks for your help in translating a complex topic.