The COVID-19 pandemic has caught us all off-guard. A few people across the globe had been theorizing about the possibilities of such a pandemic, but nobody was seriously listening. We love our comfort, we love our routines, we love our business cycles, and we love business growth.
However, COVID-19 has shown the whole world that we must be prepared for uncertain times. Indeed, we should be much better prepared as this pandemic has proved to all of us. No country, no industry, no city, no family is excluded, and all of us have been deeply affected.
Abraham Maslow was right when he established the hierarchy of needs in 1943. The most basic needs such as shelter, food, and water are some of the most successful industries. Groceries have done a fantastic job in securing food availability. Safety and healthcare industries are the heroes of this pandemic. They have been serving under impossible conditions to keep us safe.
Today, what Maslow did not have the privilege of discovering has become the operating system of our civilization- the internet. Video conferencing, e-commerce, homeschooling, messaging, video streaming, stock trading, banking, paying taxes, making a doctor’s appointment, finding a new home, and much more – all possible from your couch with a fingertip.
Customer Excellence- Operational Excellence- Innovation Excellence
Digital must become the center of your operations. Digitopia categorizes digital transformation into three main buckets:
- Customer Excellence
- Operational Excellence
- Innovation Excellence
Groceries were challenged by consumers with the implementation of digital commerce (web or mobile) and last-mile delivery. The companies that were able to deliver succeeded, gained market share and became the go-to brand or app- all thanks to their consumers. The ones who failed lost market share and the credit of the consumer. It will be very difficult for them to close this gap in trust and capabilities.
Customer excellence is highly important for all industries; especially the ones directly facing the consumer. Digital commerce, customer analytics, well-designed experiences, and trust-providing value propositions must be re-engineered, optimized, and highly digitized to be able to cope with our new realities.
The same goes for operational excellence and end to end value chains. “Resilience” has been crystalized as the key capability. But there is more to it. Optimization must always be on the agenda for all operations and supply chains. Digital and analytical capabilities will improve your planning and management precision as well as your time to market. These capabilities will lower failure rates, speed up cycle times, and enable better forecasting, which will contribute to better demand planning. None of these are possible with analog systems, Excel sheets, or human intelligence. You have to go the extra mile to beat your competition – with digital.
Last but not least, uncertain times are full of opportunities for those able to see them and capture the window of opportunity. Agile teams are essential to speed up the time to market for a new platform, mobile app, or any innovative business idea. To achieve this, your corporate culture must support experimentation. If it doesn’t, then you should innovate outside of your incumbent.
Digitopia has a unique “digital maturity model”, covering six areas any organization has in place. We have compiled six generic, very important key recommendations for you. These six areas of investment will occupy your most critical talent over the next few years. These six areas will be your competitive edge.
Either you master these, or you will go out of business. It is just a matter of time.
May the digital forces be with you.
THE BETTER NORMAL SERIES
THE BETTER NORMAL #1: “THE BETTER NORMAL” WILL BE CREATED BY US
THE BETTER NORMAL #2: NO WAY OUT!
THE BETTER NORMAL #3: SYSTEMIC CHANGE OR NUDGE FOR THE BETTER NORMAL
THE BETTER NORMAL #4: A CRITICAL APPROACH TO DIGITAL
THE BETTER NORMAL #5: A CUSTOMER EXPERIENCE PERSPECTIVE
THE BETTER NORMAL #6: THE “REAL” RESILIENCE OF SUPPLY CHAINS
THE BETTER NORMAL #7: AIM FOR DIGITAL GREATNESS
THE BETTER NORMAL #8: THE BALANCED VISION
THE BETTER NORMAL #9: OPERATIONAL EXCELLENCE
THE BETTER NORMAL #10: Don’t Carry “Covid-19 Impact” Too Far
THE BETTER NORMAL #11: Workplace of the Better Normal
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