The three essentials of B2B digital transformation
Today we are witnessing a profound shift in how B2B leaders use digital to consume information, make informed buying decisions and engage with suppliers. COVID-19 has accelerated this shift.
Digital transformation is not a choice. Failure to transform in the face of the evolution of data and digital technology makes B2B companies more vulnerable to existing competitors and to unforeseen insurgents. B2B leaders need to take four basic steps to build the momentum and capabilities to transform their companies into agile, customer-centric digital organisations:
- Define customer needs through customer profiling, segmentation and journey mapping that reflects the intricacies of B2B procurement and solution deployment.
- Determine how to win through digital selling, customer experience and innovation strategies that address the needs of multiple decision makers and influencers.
- Navigate what to do via rapid prototyping and piloting and by adopting a test-and-learn attitude.
- Build customer data and experience development teams and set up transformation management offices to coordinate their work.
A method to help CIOs both add value and cut costs
This article outlines a method to help CIOs add value and cut costs by identifying value-adding investments in digital technologies alongside targeted cost savings in IT.
Targeted is the operative word, because blanket IT cost cutting leads to technical debt as well as competitive disadvantages in an increasingly digital economy. This was already a common mistake in pre-coronavirus times. For the future it is all the more important to find the right balance.
Steps to enable highly efficient CEO support staff
Because it is a small team, a CEO’s support staff can escape attention as a unit that makes a big difference. If the staff and CEO are in sync, they will collectively boost the return on one of an organisation’s most precious resources: the CEO’s time.
- Start by reflecting on the current system and schedule management, diagnosing the CEO’s time allocation, assessing time reserved for reflection and strategy, and understanding how last-minute requests are managed. Many CEOs do not routinely schedule time with their staff to discuss how to work together effectively.
- Be clear about individual roles and responsibilities, especially those that are shared. While all members of the team are helping the CEO, they do not all help in the same way.
- Develop simple tools to track time against priorities and follow-up items that need attention. A straightforward “focus list” for follow-up items could serve as a tracking instrument but also more generally as a contextual aid. Ensure that the daily calendar broadly reflects immediate priorities as well as a rolling four-week view of the calendar that is in sync with longer-range priorities.
Agility to action: A value-driven agile blueprint
McKinsey & Company
This article explores four questions an agile organisation must answer to develop an effective blueprint, put it into action, and create the most value.
- Where should profit-and-loss ownership lie?
- How does one create incentives for teams that do not own a P&L?
- What is the framework for coordinating among teams?
- How does culture need to adapt to make this work?