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Being Digital-Ready: 5 Takeaways from the Forrester Forum for Technology Management Leaders

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Being Digital-Ready: 5 Takeaways from the Forrester Forum for Technology Management Leaders

It’s here, it’s amazing, but it’s going to take some getting used to … but when you do, it’s going to be better on the other side.

Let’s look at 5 takeaways that will equip you with just a little more as you make your way down the digital path:

  • Be ready to assess digital readiness: Of over 1,200 executives surveyed by Forrester, 19% of organizations have the necessary technology to execute digital strategy. 15% have the necessary people and skills.[1] Work with your teams to get an understanding of the current state of your organization—identify and manage your strengths and gaps.
  • Know your capabilities: An effective digital strategy addresses the needs of both the business and customer ecosystems.[2] Bridging the gap is critical to success.
  • Growing the business is top-of-mind: More business executives rank growing revenue as a top priority (24%) over reducing costs (17%). Organizations must capitalize on opportunities, such as leading a digital business strategy and rethinking the operating model.[3]
  • Managing digital disruption: Navigate through the noise by focusing efforts on specific business goals. Leveraging an agile digital approach will produce quick wins with incremental results.[4]
  • Strong digital leadership is critical to success: “Replace your inside-out viewpoint with an outside-in lens on your customers.” Look for “the three attributes of digital leadership”[5]:
    • Strategy: set and communicate digital strategy
    • Transformation: manage digital change
    • Execution: operate and optimize digital touch points

In a customer-centric business environment, DIGITAL IS KING. How would you rank your organization in terms of its digital-readiness? What are you doing to grow the business? Are you focusing on adjusting your lens to be more customer-oriented?

 

[1] Source: Forrester Research: “Turning Business Drivers into Digital Strategy”. Gordon Barnett. May 6, 2014. “The Future of Business is Digital”. March 10, 2014. Forrester Report: Forrester & Russell Reynolds 2014 Digital Business Survey.
[2] Source: Forrester Research “Turning Business Drivers into Digital Strategy”. Gordon Barnett. May 6, 2014.
[3] Source: Forrester Research: “Enterprise Architecture at the Front End of your Business”. Alex Cullen. May 6, 2014. Forrsights Budgets And Priorities Survey, Q4 2013.
[4] Source: Forrester Research: “Navigating the Fast-Moving Landscape of Digital Implementation Partners.” Liz Hebert. May 5, 2014.
[5] Source: Forrester Research. “Navigate Your Digital C-Suite”. Nigel Fenwick. May 5, 2014.

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It’s here, it’s amazing, but it’s going to take some getting used to … but when you do, it’s going to be better on the other side.

Let’s look at 5 takeaways that will equip you with just a little more as you make your way down the digital path:

  • Be ready to assess digital readiness: Of over 1,200 executives surveyed by Forrester, 19% of organizations have the necessary technology to execute digital strategy. 15% have the necessary people and skills.[1] Work with your teams to get an understanding of the current state of your organization—identify and manage your strengths and gaps.
  • Know your capabilities: An effective digital strategy addresses the needs of both the business and customer ecosystems.[2] Bridging the gap is critical to success.
  • Growing the business is top-of-mind: More business executives rank growing revenue as a top priority (24%) over reducing costs (17%). Organizations must capitalize on opportunities, such as leading a digital business strategy and rethinking the operating model.[3]
  • Managing digital disruption: Navigate through the noise by focusing efforts on specific business goals. Leveraging an agile digital approach will produce quick wins with incremental results.[4]
  • Strong digital leadership is critical to success: “Replace your inside-out viewpoint with an outside-in lens on your customers.” Look for “the three attributes of digital leadership”[5]:
    • Strategy: set and communicate digital strategy
    • Transformation: manage digital change
    • Execution: operate and optimize digital touch points

In a customer-centric business environment, DIGITAL IS KING. How would you rank your organization in terms of its digital-readiness? What are you doing to grow the business? Are you focusing on adjusting your lens to be more customer-oriented?

 

[1] Source: Forrester Research: “Turning Business Drivers into Digital Strategy”. Gordon Barnett. May 6, 2014. “The Future of Business is Digital”. March 10, 2014. Forrester Report: Forrester & Russell Reynolds 2014 Digital Business Survey.
[2] Source: Forrester Research “Turning Business Drivers into Digital Strategy”. Gordon Barnett. May 6, 2014.
[3] Source: Forrester Research: “Enterprise Architecture at the Front End of your Business”. Alex Cullen. May 6, 2014. Forrsights Budgets And Priorities Survey, Q4 2013.
[4] Source: Forrester Research: “Navigating the Fast-Moving Landscape of Digital Implementation Partners.” Liz Hebert. May 5, 2014.
[5] Source: Forrester Research. “Navigate Your Digital C-Suite”. Nigel Fenwick. May 5, 2014.