These days, small innovations can completely disrupt a global industry. Data offers more and more insights and, as a result, traditional earning models are overtaken faster and more often. Brands that don’t embrace this and fail to innovate in time, simply disappear. A well-known recent example of this is Toys R Us.
For me, the need to transform faster than ever into an organisation that can quickly implement data-driven changes is obvious. In this blog, I’ll explain how CTS can help you with this.
Culture of change
Organisations must increasingly anticipate world changes. Employees have to be flexible and agile as a result. Functions change or disappear with the rise of technology such as Machine Learning. By far-reaching interpretation of Big Data; the use of cloud technology and entrepreneurs with disruptive ideas revenue streams are changing.
Key examples of companies that are transforming their sectors are Uber and Airbnb. With the transport industry being overthrown and turnover in the hospitality sector being transferred from hotel chains to private landlords, traditional companies in these spaces did not see these innovations coming. Simply because they had no culture of change. If you read this and think that this can’t happen to your organisation, think again.
In order to succeed, it is essential to keep up with the changing needs of the global economy. That doesn’t mean that existing models have no value or that you need to get rid of your entire workforce and start from scratch. On the contrary, I am in favour of a healthy mix.
A startup mentality alone is not enough. You need a combination of people with extensive industry background and knowledge, and people that are new to your sector. This way you can get a team with many different perspectives, which leads to fresh ideas that will help nurture your company. After all, everyone shares a vision and a common goal.
How do we drive this transformation?
This all sounds great, but how do you keep moving forward and keep your employees involved throughout the process?
First of all, it is essential that you share the ‘why’ of your company with your staff. If this is new territory for you, then the first step is to ask yourself why your organisation exists and does what it does. Often the (strong and fantastic) why is in the head of a single person within the company. But if no one knows the why, everyone will only focus on the how and the what.
It’s time to propagate that vision and get everyone on board. The more people can follow this train of thought, the greater the chance to achieve company goals.
Data-driven business models
If you ask me, data-driven business models are the future. But, what is a data-driven organisation? As the name indicates, it’s a company that centres its strategy around data. This means gathering and analysing data across all aspects of the business to gain better insights and use them for smarter decision-making.
Now, if this is your goal, your first step would be to bring your organisation to the cloud. This way, you can leverage its computing power, features and tools to make smarter use of your data and, ultimately, outsmart your future.
You don’t need to convince everyone
To achieve this company-wide change, you’ll need some internal support too. Internal ambassadors across the organisation who understand and share that vision of where the company wants to go will be essential for this. They will be the key drivers of this transformation.
These key players can be there for people who find changes difficult and help you in this transitional period. With people across all teams sharing their excitement for this new direction, sooner rather than later everyone will be on board.
Measuring is knowing
Just establishing a new direction is not enough for your company to make an actual transformation. To make sure you reach the results you’re aiming for, you need to set some goals. Or, in business language, KPIs.
To ensure a successful shift, it’s essential to provide your employees with positive measurable challenges. These can be key operational and financial goals, for example, that will help you with the transformation process itself while leading to business growth.
It’s also important to give your team ways to share their input and ideas. And last, but certainly not least, take time to celebrate your successes. This journey might take a while, so it’s important to recognise and reassure your team that you’re on the right track.
Roadmap to change
When you start on this transformation journey with us, our initial focus is not the technology, but understanding your goals. The first step is for us to understand your ambitions, so we can, together, define the steps to achieve a successful transformation with a tailored technology solution that helps you make the most of your data.
Our change management experts are here to help you set up a culture program and ensure a smooth transition. Want to know how we can help you to outsmart your future? Get in touch with our team of experts on +44 (0) 161 871 0330 or email@example.com.