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Mergers and Acquisitions. Progress on business initiatives dragged organizational change like agile development and innovation along. ThyssenKrupp, a diversified industrial engineering company, broadened its offerings to introduce a lucrative new digital business alongside its traditional business. However, what many companies overlook in the transformation … We see process transformation on the shop floor where companies like Airbus have engaged heads-up display glasses to improve the quality of human inspection of airplanes. The business process part of the transformation refers to how your company functions internally. Business Model Transformation Some companies are pursuing digital technologies to transform traditional business models. 7 Types of Digital Transformation posted by John Spacey, May 22, 2017. Cultural/organizational change is a long-term requirement of success, but best in class companies regard the building of these capabilities as a product of, rather than a prerequisite for, business transformation initiatives. Similarly, Pitney Bowes CEO Mark Lautenbach began its transformation with a primary focus on customer-facing offerings, developing new commerce cloud to allow customers to better manage and pay for shipments. Blockchain. The New Playbook for Growth in the Age of Digital Transformation, The New Playbook for Growth in the Age of…, How to Collaborate A definition of strategic objectives with examples. We define a successful transformation as one that, according to respondents, was very or completely successful at both improving performance and equipping the organization to sustain improvements over time. The definition of digitalization with examples. Digital transformation refers to the process and strategy of using digital technology to drastically change how businesses operate and serve customers. Because these transformations tend to be focused efforts around specific areas of the business, they are often successfully led by a CIO or CDO. That’s because every organization – regardless of its size or industry – increasingly relies on data and technology to operate more efficiently and deliver value to customers. Version 5 – Digital Transformation as a World View (Everyone perspective) There is also what I call the macro view of Digital Transformation as opposed to the micro (the view of the firm). The first and simplest type of digital transformation is to transform business processes. The collection and organization of data analytics is a common aspect that is often tied to other digital transformation components, such cloud computing and the Internet of Things (IoT). Amazon expanded into a new market domain with the launch of Amazon Web Services (AWS), now the largest cloud computing/infrastructure service, in a domain formerly owned by the IT giants like Microsoft and IBM. Digital transformation, according to Coleman Parkers research, increases employee productivity by 39%, operational efficiency by 38%, and improves employee recruitment and recruitment effectiveness by 70%. More companies should pursue this path. The lesson is to recognize the new domain opportunities afforded by new technologies and understand they can be captured—even by traditional incumbents. Type 5: Reconsider the performance bond – i.e. Digital transformation has become an ambiguous, catchall term that encompasses a whole host of technology and business initiatives—from modernization, to cloud migrations, to digital platforms, digital transformation is seemingly everywhere. 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