“Disruption occurs anytime a company uses digital tools or platforms to deliver better experiences to customers in less time for less money,” said Andrew Grill, Global Managing Partner at IBM Social Consulting when speaking to inaugural meeting of the Business Forum Digital Transformation Group.
Addressing senior management from businesses across the Thames Valley, Andrew Grill highlighted the changes in the way we have carried out business in the last few decades and focused on the readiness of today’s customers to accept innovation and change.
“Businesses need to adapt to the Digital World and be ready to embrace the new ways of doing business. There are many businesses that run purely on a digital model and they have disrupted ‘traditional’ businesses to the extent of putting them out of business. Look at the impact of Uber, Airbnb and Netflix on the taxi, short term renting and film rental businesses respectively.”
Andrew was addressing the first meeting of the business networking group called the Business Forum Digital Transformation Group which has been set up following the well-established and successful model of the business networking group the Business Forum. Founded by Sue Dormer, the Business Forum has been meeting on the first Thursday of each month for the last ten years. The new networking group is for senior management in technology, telecoms and other companies that have an interest in digital issues. The attendees at the first meeting included senior management from Microsoft, IBM, Ladbrokes Coral Plc, Computer Bright, BT, Wilson Partners, Zaptext and Elitele.
Andrew gave a few tips to businesses to help them face today’s challenges:
1. Disrupt yourself – make sure you are constantly looking at ways to do things differently
2. Make sure you have a Digital Budget
3. Build a truly Digital Board
4. Encourage Digital diversity within your business – you will have many different levels of knowledge and experience
5. Become a Digital company with small innovative teams and a collaborative culture
6. Embrace a culture of knowledge sharing rather than hoarding
7. Gain support from senior management
8. Make sure you are agile
A video of the presentation can be viewed HERE
The next meeting of the Business Forum Digital Transformation Group is on Thursday 20th April at 7.15am at Bearwood Lakes Golf Club, Wokingham.