Historically companies believed they could create sustainable competitive advantage by owning and controlling the assets needed to build high barriers to entry into their markets.
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Entries by woetmrc
The evolution of IT from a cost center to a profit center is at the core of successful business transformations. The wave of new digital technologies are the driving force of new product and service innovation that is redefining how companies engage with their customers, employees and other key stakeholders.
As we embark on the new decade of 2020, it’s impossible to ignore the virtually unanimous consensus that artificial intelligence and machine learning will be the defining competitive differentiator for companies of all sizes across all industries.
There are numerous studies that track and document how engaged and happy employees are across multiple companies and multiple industries. Here are a few that got my attention…
Last year, a McKinsey study documented that companies spent more than $1.3 trillion on digital transformations 70% of which failed to reach their desired outcomes which means that over $900 billion went to waste.
For businesses of any size to be successful today, they need to think and act like a software company. Whether they are actually developing software or just deploying and leveraging it, they need to configure their business model to operate like one.
The frequency and pace of change from digital disruption necessitates that companies can no longer rely on traditional planning and decision-making models. Simply put, they are too slow, too rigid and too process-driven to adapt to the new speed of business.
Michael Simmons has an unbridled passion for teaching people how to learn. In his work with successful leaders he has come to the following conclusion: “At the highest levels, learning isn’t about something you do to prepare for work. Learning is the most important work. It is the core competency to build. It’s the things you never delegate. And it’s one of the ultimate drivers of long-term performance and success.”
When Steve Balmer became CEO of Microsoft in 2000, the stock was trading at $40.00 a share. When he stepped down as CEO in 2014, the stock was trading at $40.00 a share. During his entire 14 year tenure as CEO of Microsoft, the stock never traded above $40.00 a share.
To successfully compete as a digital enterprise requires starting at the top with the CEO and Board agreeing on the right digital strategy for the company and a game plan to implement it. That is virtually impossible to do if the majority of board members are not digitally savvy.
Wild Oak Enterprises, LLC
130 Ocean Park Blvd. #531
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