Digital Transformation and Organizations!!!
Digital transformation is not about technology- it's about strategy and new thinking...!!
Digitalization is the use of digital technologies to change a business model, provide new income and value-producing opportunities. It is the process of moving to a digital line as we have already indulged in the digital world for the last decades. decades. But not as much as in the last few years, due to COVID-19, from making a call, shopping online, playing games, learning, or simply using a calculator on the phone or any other gadget, all of these habitual activities are digital. We are living in an extremely digital world with creative technologies with which our life has become more trouble-free. Next door to modern digital development, it is indispensable for businesses to find a use for the tools of digitalization and imaginative software solutions to fast-track their organizational performance. Digital transformation is incorporating digital technologies to improve business processes and increase business efficiency.
Digital transformation during COVID-19: Magnified clarity in overall internal communication COVID-19 impact on digital transformation. In 2020, worldwide spending on digital transformation reached 1.3 trillion U.S. dollars, growing 10.4 percent year-on-year – a compromised yet still strong growth despite the economic recession caused by the coronavirus (COVID-19) pandemic. The pandemic has quickened digital transformation considerably, highlighting businesses’ need to increase operational efficiency and improve customer experience, as they are the deciding factors that influence a company’s fate in a time of economic difficulty. More than half of customer interactions and companies’ products and services became digitalized during the pandemic, compared to just a third right beforehand.
A successful digital transformation involves the efficacious implementation of all five elements:
Strategy: Set a clear business direction and build technology around it
Incentives: Measure, track, and recognize progress
Guidance: People, products, and processes have to move together in tandem
Focus: Design solutions around human Skills: A great team can turn an inferior idea/plan into a successful initiative.
The necessity of the internet - In the 1980s the use and applicability of the internet have been fast expanding. Today, the internet has become a basic necessity for most of us and we find our life incomplete without it. As of January 2021, there are over 5.1 billion active internet users and there are more than 1.86 billion websites online. The digital landscape is continuously growing and evolving. The number of internet users increases at an average rate of 8.2℅ a year. Digitalization was further given an impetus when COVID-19 hit the world in 2019. When the whole world was forced into being locked in lockdown, the internet became our primary source of information, communication, recreation, even work, and education.
Key Benefits of Digital Transformation in the workplace come with a variety of high-level satisfaction. These include:
- More well-organized resource management
- Innovation of digital products and services
- Encourages knowledge sharing and cooperation across departments
- Better customer insights and empress
- Amplified employee engagement and empowerment
We can certainly prepare our professionals for the future and digitalization is the future. In today's world, before being citizens of our country, we are all the citizens of the internet; we are all digital citizens. Thus, to make learners responsible and make their futures bright, we are here to help you with consultants which are more efficacious for executive education counselling. Here ‘The Top B School’ springs to mind. Team #TheTopBSchool will find the relevant program appropriate for your professional growth and will help in making your career progression sleeker. Explore the courses available from The Top B Schools of India such as IIM Ahmedabad, IIM Calcutta, XLRI Jamshedpur, IIT Delhi, and Many More.