Driving a digital transformation in your company is a major challenge for two reasons

Reason no. 1

In order for your company to successfully go through a digital transformation, it is required that your company’s four cornerstones has been adapted to maximise and capture value in the digital era. Therefore, you will have to (1) rethink your business model, (2) redesign your value chain, (3) create intelligent interactions with your customers, and (4) create a well-structured plan that allows you and your company to successfully navigate through the digital transformation process by making the right choices at the right time.

Digital Leadership

Rethink your business model

Digitalisation has caused dramatic changes in many industries, which have forced executive leaders to reflect upon the very core essence of their business, including business scope, the composition of the business model, and the entire business ecosystem. In order to secure prosperity, you will have to rethink the core of your business to ensure that it is adapted to capture maximum value in the digital era.

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Redesign your value chain

The technological enhancements have derived a number of new models of R&D and innovation. New technologies such as digital manufacturing, virtual and augmented reality, 3-D printing, and digital supply chains have emerged and partly caused the transition to the forth industrial revolution. To excel in the digital age, you and your company need to figure out how to increase effectivity and efficiency in your value chain by utilizing new technologies and new approaches to drive innovation.

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Navigate effectively in your digital transformation

The process of a digital transformation is a complex and unpredictable effort that affects all leaders and employees in a company. Along the way, you will have to face the contradicting challenge of strengthening the core of your company, while building the products and services that will define the future. This entails large leadership challenges in order to create a smooth and well-timed transition, and to develop skills, organisational design, and a culture that supports the transformation. You will need to develop a well-structured plan that allows you to successfully navigate through the entire process.

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Create intelligent interactions with your customers

Technology has revolutionised how companies attract and communicate with customers through social media. It has also brought new possibilities for measuring and optimising marketing activities through the use of customer data that previously has been unable to structure. To thrive in the digital age, you will have to formulate a strategy that secures an effective utilization of new technologies and data to create an intelligent communication with your customers.

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Reason no. 2

Another significant challenge that can hinder a successful digital transformation is the balancing task of strengthening the core of your company, while building the products and innovations that will define the future – and it is no surprise that only a few companies do this well.

Most successful companies are adept at refining their current offerings, but falter when it comes to pioneering radically new products and services. And there is a good reason for that: most companies are simply not designed to excel at disruptive innovation, which sometimes is necessary to renew for the future. Large organisation are usually orchestrated to create and drive efficiency and profitability based on the prerequisites set up by the company’s current business model, product and services, organisational design etc. – and not to create and implement fundamental changes. In addition, the strive for short-termed efficiency and profitability is often reflected in a company’s incentive structure and in the interest of the company’s primary share- and stakeholders. All this contributes to the fact, that most companies are caught in the act of incremental innovation to favour short-termed profitability, even in times where the market demands more radical and disruptive innovation, which undeniably requires large strategic investments, willingness to take some risks, time, and a lot of resources before it has a positive impact on the bottom line.

Working strategically with the four cornerstones of a company is an exciting and challenging journey towards a digital transformation. There is no turnkey solutions. In close collaboration, we will customise a leadership development programme that will enable you to answer and find solutions to major managerial challenges to secure a successful digital transformation, prosperity, and future profitability.

When you are in crisis, you have the motivation to change, but no time and money. When there is no crisis, you have time and money to change, but lack the motivation. When do you want to start your digital transformation?

Søren Røssel, Partner & Head of PwC’s Executive Education

Contact us

Søren Røssel

Partner, Head of PwC's Executive Education, Global Centre of Excellence, PwC Denmark

Tel: 5160 0000

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