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Digital Cultures Builds Performance

31December

Digital Cultures Builds Performance

A Question for Organized Digital Culture

Digital Culture Builds Performance – From the sponsoring manager’s point of view, the objectives may not be all that clear. The sponsor may “feel” that significant improvement in overall organizational performance (new business or reduced costs, or improve service) is needed. In this more common instance team has some serious work to do defining and refining performance measures. A High-Performance culture can and should be expected to develop and refine its objectives and measures of performance. Vision, values, beliefs and his dream drive the Leader as a person. The Leader must be able to communicate the shared vision and create a meaningful goal to strive for. I think this is absolutely correct. The Leader must be a visionary, fired up with enthusiasm and able to translate this vision to his team, right from the soldiers in the trenches to the Generals leading the battle.  He must dream yet be practical. The vision he communicates must be meaningful and strike a chord with his troops, only then will they really be committed to it. The Leader’s emphasizes on the Individual and the Intellect, and a role in building individual and organizational knowledge. I see the Leader as a facilitator. Smart Leaders realize that they cannot do everything on their own. The best Leaders hire people who they believe are smarter than them, energize them, empower them and equip them with the tools that they believe are needed for them to achieve superlative performance.

Digital Cultures focuses on Strategic Priorities – Even when management provides simple instructions such a desire to reduce cost, many questions remain cost reductions at the expense of sales? Reduce our own costs, but push costs off on some other organization or a supplier? Or the customer? Larger objectives quickly come into play, and the team is going to also have to be given the strategic objectives of the organization, so it can detail out whether what is trying to do will contribute to the organizations strategy. A leadership and management that pays attention to high performance lead the organization. Unfortunately, the organization’s strategy may be only in one person’s head, or it seems to change with the wind, or is not followed at all by anyone in the organization. When an organization discovers that it doesn’t understand the organization’s strategy, it must stop progress and get briefed by someone who does understand it. In the sad event that there is no clear organizational strategy, the team will have to presume a strategy and run it past the sponsoring manager for confirmation. Once the strategy is set or understood by the team members, work can proceed on refining performance measures. High Performance cultures is chartered to improve performance in some way. Performance is associated with speed, quality, cost, and effectiveness. Finding good measures on these variables is not always easy.

Digital Culture and Bottom Line Basics – Organizations evaluated their state of business presence through growth and bottom line orientation. The worth of the shareholder was meant to be a long-term proposition. Dominance continues to be an effective strategy. In competitive environment organizations need a combination of hardware and software resources, apart from sustainable advantages in technology, product dominance, market shares and a financial muscle. As more firms begin concurrent strategy to dominate demand-supply equilibrium significant oversupply and narrow penetration strategies are deployed making either the market base grow or cause abundance. Eventually the firm has to either turn cost effective to remain competitive or create winning marketing tactics to sustain. Dominance through mergers or strategic alliance help in managing this process where equitable partners align to make the market. While the reward system will provide some incentive for managers to prepare effective strategic plans. If the reward system is based solely on the short-range bottom line, the CEO cannot expect top quality strategic planning. If a manager is evaluated solely on the basis of the short-term bottom line, there will be little or no long-range strategic thinking.

Digital Culture has to manage commercial Risk – Change methodology enables the organization to be ready and able to work with a new or changed set of processes enabled by new technology and business processes, thereby realizing the benefits of the transformation. The approach helps the impacted organization to clearly understand the need for change and the outcomes of the change, and ultimately ensures that the organization possesses the capabilities and motivation to make and sustain the change. Additionally, there is a large focus on transferring knowledge to the organization, as well as developing methods and content for ongoing support of job performance. The activities in this thread can help accelerate stakeholder adoption of the changes and reduce the performance dip typically seen on large-scale business transformations of the size and complexity to drive management of commercial risk. “Today, the costs of inaction almost always exceed the costs of action.” Making a culture less risk averse is by no means an insurmountable task. To boost risk taking in their companies, executives need to change their mindsets. Dr. John Halamka, chief information officer of the Boston health care provider Beth Israel Deaconess Medical Center, says that leaders must acknowledge failure as a prerequisite for success. “Failure is a valid outcome,” he says. “Wearable computing is great, but Google Glass wearable computing devices turned out not to be for us right now. We may discover that patients love the Apple Watch wrist-wearable device and it becomes a platform. It’s hard to know. But even if it doesn’t, it’s OK.” And this does lead to a digital culture building aspect. In the research paper, “Strategy, not technology drives digital transformation”, Gerald C Kane, Doug Palmer, et all, in MIT SMR 2015, write, “Phil Simon, author of several books on how technology impacts business, sees risk aversion as a serious impediment that plagues many established companies. “For every Google, Amazon or Facebook taking major risks, hundreds of large companies are still playing it safe,” he says. “Cisco CEO John Chambers echoes the sentiment. “We began working on the Internet of everything more than seven years ago,” he comments. “The market wasn’t ready for it. In that instance, we had the courage to keep going without overinvesting to the point where we were betting the company on it.” But it would be a mistake to suggest that only the mindset of leaders drives aversion to risk. Employees may fear taking risks as much as their managers do. Encouraging employees to be bolder is especially important in digital business transformations. To draw employees into the fold, businesses may have to take deliberate actions”.

Digital Culture and Economic Impact – In business the fundamental criteria for determining the rationality of decisions usually are specific economic measures such as return on investment, market share, profits, sales, and margin. Yet despite usage of modern management tools or state of art practices several corporations have not emerged out of the woods in difficult economic downturns. Economic impact of the firm, obviously, is more than internal management approaches alone. Best of organizations have encountered failures for want of strategic differentiators. For example, Michael E. Porter defined five basic forces as the basic state of “barriers to competition” for a firm: Economies of scale, Product Differentiation, Capital Requirements, Cost disadvantages independent of size, Access to distribution channels and Government Policy. At any given point in time firms are at varying stages of advantage on this five-stated entry barriers. It makes vulnerability that much more relevant in the context of a going concern. GE has consistently stated dominance, economies of scale and size as their competitive positioning all with an emphasis to transform into digital culture driven organization.

RiverForest Connections specializes in Transaction Advisory – Capital, Growth and Cost Optimization. This experience is combined with a supportive proficiency in the management & administration of psychometric tests, profile analysis, assessment/development centers including competency mapping, leadership development centers and 360-degree surveys. On line testing capability www.riverforestestore.com   experience includes pre-employment testing, competency testing, personality profiles etc. These tools have also been prepared with a sector specialization in Banking, Financial Services, Broking, Insurance, Professional Services, Consulting, IT Business Services, Digital Enterprises, Retail, Manufacturing, Oil & Gas, Consumer Products, FMCG, Technology and Digital Governmental – Public Businesses as an area of focus. https://www.riverforestconnections.com/shoppage/

Posted by ZuzukiSX4  Posted on 31 Dec 
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