Technology is changing the future of work. Are you ready?

Quantum Physics and the Theory of Relativity. 

Today, technologies based on quantum physics and the theory of relativity are developing at an inexplicable rate, in applied terms, they are diverse and include all areas known to us.

The environment has changed.

Digital technologies are bombing today. As a Single Mnemonic, SMAC stands for Social Networks, Mobile Devices, Analytics, Cloud Technology, and Internet of Things

Experts say that we all see that digital technologies are radically changing the rules of the game, as they provide three business opportunities:

  • Widespread dissemination of data,
  • Unlimited connection,
  • Huge computing power.

CEO and CIO should work together to enable a business that can be created with the help of digital technologies.:

A great example of GE. When GE Aviation built jet engines that could transmit jet engine status data, a GE executive asked what advantage all the data gave GE.:

Overall, digital technologies can improve operational excellence and simultaneously introduce new revenue streams that can lead to improved customer performance.:

According to the MIT Center for Information Systems Research, about three-quarters of legacy enterprises are either closed in silos, or their business is connected with the help of “adhesive tape” and “viruses”.

For these legacy organizations, the interactions between people, processes, and technology limit their ability to learn, discard, enhance, reconfigure, and scale-up. This is similar to what Gary Hamel suggested, that the practices of management need radical change. Hamel believes it is time to challenge long-standing management orthodoxies that constrain innovation. This is a dilemma the authors work to address in their book.Part of the problem is that successful companies cannot afford to dump the value propositions that made them successful. In many software businesses, for example, a software licensing model has proved a tough habit to kick. At one employer of mine, that went private, the goal was to change their business model, but investor financial goals made it impossible for them to compete against new-age software companies. Ian Mitroff said the problem is that the seeds of failure are found in initial company success. The list of companies for which this is true is large and getting larger. The problem is that incumbent enterprises become comparably more risk-averse than new entrants․ According to the authors, successful businesses wanting to sustain their market position need a digital business design—people, process, and technology—to define value propositions and deliver offerings made possible from the capabilities of digital technologies. They say that digital business design distinguishes what is stable (core competencies, enterprise processes, and master data structures) from what is changing regularly (digital offerings, team goals, apps, and skills). At its core, the aim should be to make a company agile so that it can create an innovative and constantly evolving portfolio of digital offerings in response to rapidly changing technologies and customer demands.

This could be a big step for many companies because he says that all companies are digital, software companies and they should, as Vijay Gurbahani suggested, “encode know-how” in their digital business offerings․

Creating a digital business

In the digital age, business opportunities should be clearly digitized, but the experts remind suggest that there is more work to do։

  • Organizational training on what customers will pay for and how digital technologies can deliver their requirements․
  • Functional Spine: A set of standardized integrated systems, processes and data supporting the company’s core competencies․
  • Digital platform. A warehouse of business, data, and infrastructure components used to quickly regulate digital offerings․
  • External development platform: a digital component warehouse that is open to external parties․
  • Allocation of responsibilities for digital offerings and components balancing autonomy and equation․
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