ONE.
Managing complex engagement within Digital Transformation.
The discovery process for a complex consulting engagement within digital transformation involves several key steps:
- Define the scope of the engagement: The first step is to clearly define the scope of the engagement. This involves understanding the specific challenges and objectives that the client is facing, as well as the expected outcomes of the consulting engagement.
- Assess the current state: The next step is to assess the current state of the client’s business and technology. This may involve conducting interviews with key stakeholders, analyzing data and performance metrics, and reviewing existing systems and processes.
- Identify opportunities and challenges: Based on the assessment of the current state, the consulting team should identify the key opportunities and challenges that the client is facing in relation to digital transformation.
- Develop a roadmap: Once the opportunities and challenges have been identified, the consulting team should develop a roadmap outlining the steps that need to be taken to achieve the desired outcomes of the engagement. This may involve identifying specific technologies or processes that need to be implemented, as well as defining the roles and responsibilities of various stakeholders.
- Implement and track progress: The final step is to implement the recommendations and track progress toward the desired outcomes. This may involve regular check-ins with the client, as well as ongoing monitoring and assessment of the impact of the consulting engagement.
Examples of consulting engagements within digital transformation could include helping organizations to implement new technologies, such as cloud computing or artificial intelligence, or to improve their digital marketing strategies.
One case study that illustrates the discovery process for a complex consulting engagement within digital transformation is the work that McKinsey did for T-Mobile. In this engagement, McKinsey helped T-Mobile to define its digital strategy and implement new technologies and processes to improve customer experience and drive growth.
References:
- McKinsey & Company (2018). T-Mobile: A digital transformation success story. https://www.mckinsey.com/industries/telecommunications/our-insights/t-mobile-a-digital-transformation-success-story
- McKinsey & Company (2018). Digital transformation: What it is and how to get it right. https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/digital-transformation-what-it-is-and-how-to-get-it-right
TWO.
Common Business Agility Problems that large enterprises are trying to address.
Business agility refers to an organization’s ability to respond quickly and effectively to changes in the business environment. Many large companies are seeking to improve their business agility in order to stay competitive and adapt to changing market conditions. Here are five common business agility problems that large companies may be trying to address:
- Complex decision-making processes: Large companies may have complex decision-making processes that make it difficult to respond quickly to changes in the market. Solutions to this problem may include streamlining decision-making processes, empowering employees to make decisions, and implementing agile methodologies.
- Siloed departments: Siloed departments can create barriers to communication and collaboration, hindering an organization’s ability to respond to changes. Solutions to this problem may include promoting cross-functional collaboration, implementing agile ways of working, and using technology to facilitate communication and collaboration.
- Lack of transparency: A lack of transparency can make it difficult for employees to understand the bigger picture and make informed decisions. Solutions to this problem may include increasing transparency through better communication and reporting, using data visualization tools, and implementing agile ways of working.
- Inflexible systems and processes: Inflexible systems and processes can make it difficult for an organization to adapt to changes in the market. Solutions to this problem may include implementing agile methodologies, introducing flexible work arrangements, and adopting new technologies that support agility.
- Slow innovation: Large companies may struggle to innovate quickly due to bureaucratic processes and a lack of a culture that supports innovation. Solutions to this problem may include establishing dedicated innovation teams, implementing agile methodologies, and promoting a culture of continuous learning and experimentation.
Examples of large companies that have successfully addressed business agility problems include Telstra, which implemented agile methodologies to improve its customer experience, and Intuit, which adopted a culture of continuous experimentation to drive innovation.
References:
- Telstra (2018). Telstra transforms customer experience with agile. https://www.telstra.com/aboutus/news/media-releases/telstra-transforms-customer-experience-with-agile
- Intuit (2017). Intuit’s culture of continuous experimentation drives innovation. https://quickbooks.intuit.com/r/innovation/intuits-culture-of-continuous-experimentation-drives-innovation/
THREE.
Innovate within & outside to be a next-gen enterprise.
Innovation is an important factor for businesses to stay competitive in today’s rapidly changing market. Here are five ways that large corporations can innovate both within and outside their organization:
- Foster a culture of innovation: A culture of innovation is one that values continuous learning and experimentation, and encourages employees to think creatively and take risks. This can be achieved through practices such as providing training and development opportunities, promoting a growth mindset, and encouraging employees to share their ideas and feedback.
- Collaborate with external partners: Large corporations can leverage their resources and expertise to partner with startups, research institutions, and other organizations to access new ideas and technologies. This can be achieved through initiatives such as incubator programs, co-creation partnerships, and open innovation challenges.
- Experiment with new business models: Large corporations can explore new business models that allow them to tap into emerging market opportunities and create value for customers in new ways. For example, they can adopt a platform business model, where they facilitate the exchange of goods and services between different parties, or a service-based business model, where they provide ongoing services to customers.
- Invest in emerging technologies: Large corporations can invest in emerging technologies such as artificial intelligence, blockchain, and the Internet of Things (IoT) to create new products and services or improve their existing ones. This can be achieved through initiatives such as research and development programs, acquisitions, and partnerships with technology companies.
- Engage with customers and other stakeholders: Large corporations can seek feedback and insights from customers and other stakeholders to better understand their needs and preferences, and use this information to drive innovation. This can be achieved through initiatives such as customer co-creation programs, user experience testing, and customer advisory councils.
Examples of large corporations that have successfully innovated within and outside their organization include IBM, which has a long history of investing in research and development, and GE, which has established partnerships with startups and other organizations to access new technologies and ideas.
References:
- IBM (n.d.). Innovation at IBM. https://www.ibm.com/innovation
- GE (n.d.). Innovation partnerships. https://www.ge.com/innovation/partnerships
