For a successful transformation, companies require a holistic strategy that incorporates digitalization in all areas. The strategy therefore derives from both the digital vision and the company‘s DNA. The core questions here are:
What is our DNA?
And how do we transfer this into the (digital) future?
Specifically, this means translating the existing strengths and competencies, sustainable products and services for the customers of tomorrow. As is the case when building a house, the foundation must sustain the rest of the structure, in digital transformation, this means the business model and the corporate culture. The pillars of the house form the strategic goals of the company, while everything under the roof is the digital vision. To achieve this, the market environment must be understood and current trends recognized. This way, a holistic strategy based on a solid foundation can be founded.
Implement the strategy and make employees feel valued. The clearer the individual elements are defined, the easier they are to develop into a holistic digital strategy. It is important that this is understandable for all employees, well communicated, and made tangible by the executives. Digital changes are still causing fear and uncertainty for many people. To remediate this, it is important that all team members are involved in the strategic process right from the start.
Only when each employee has understood what the strategy means for them, what goals they are striving for and how to achieve these goals, can the strategy become a reality. In a successful digital business, every employee isn’t just a spoke in the wheel, but rather an important part of the big picture. The employees must know their roles within the holistic strategy, and feel valued for their work and contribution to it.
In order to find and implement the correct business strategy for the digital transformation, it is important to thoroughly think through all necessary processes from start to end, and to clearly communicate them. The development of a holistic strategy is, after all, a process that incorporates the topic of digitalization in all areas. Digital topics must therefore be considered at every stage of development and integrated into the company‘s DNA. This does not mean that companies have to bend at their core, but rather focus on and develop the company‘s strengths. The motto here should be to stay true to oneself while making the most of digitalization opportunities.