How will you reinvent your business in the digital age?
Efficiency is doing things right; effectiveness is doing the right things.
– Peter Drucker
There is a lot to be gained in efficiency by using digital technology to reduce errors, decrease idle time, and automate tasks. Often, digital offers revenue growth potential by giving access to previously hard to reach markets. However, soon enough, your competitors will also be using digital technologies and the playing field will be once again leveled.
Understanding how your value proposition changes in a digital context is essential to redefine and transform your business. Technology, process, and people are business modules that might need to change so that your business can thrive in a new environment, but they should change strategically to strengthen the value your deliver to customers.
To reinvent your business a wholistic approach is necessary. An approach that integrates business fundamentals with the best technologies available.