Do you confront resistance when presenting to Boards? Is the new digital religion well understood?
Peter Hocking CEO – EGN Aus/NZ
Hi Peter, thank you for a very relevant question! My answer will be based mostly on the indirect contact with the Board level.
From my perspective, the digital approach is not well understood by many in the Board and even on the C-Level and around. Data, analytics and actionable insights boosted by the latest innovations and Martech solutions are enabling businesses to grow and exceed their business goals, by minimizing risks, shortening time to the conversion, automating processes etc and – what is the most important – meeting the customer expectations in the products or/and services on a new level.
However, often this new approach is challenging the traditional status quo, the way of evaluating the development strategy, when expertise, experience and gut feeling were used as the most powerful tools. In this case, the data-driven customer-centric approach takes away some freedom from the decision makers and forces on a new layer of requirements around the digital savviness in the new era of digital transformation. It might cause confrontation and resistance on different levels in the organisation, and the Board level needs time to adjust to the change, as well as many other stakeholders on different levels in any organisation. That is why it is important to keep in mind that the organisational development is described by a logarithmic curve, while development of technologies is exponential.
In addition, this gap is getting bigger over time, which might require a deep review of the organisation. Therefore, in order to choose the right business growth and transformation strategy it’s very important to understand the organisation and the changes, challenges and opportunities in the digital space and be aware of what will fit or not into your organisation.