The global pandemic has accelerated enterprises’ digital transformation efforts. Here’s how CXOs can thrive as digital leaders in the new normal.
We are moving fast towards a world that’s digitally tranformed. The digital world is one of innovation and disruption. A successful digital organization is an agile business entity that responds to customer requirement in real time while being proactive in responding to competitive pressures.
It employs a digital workforce and collaboration among various teams is an imperative as silos do not make sense in a digitally transformed enterprise. It is run by an efficient leader who understands the digital marketplace and its fast changing requirements and leverages a slew of technologies to create superior customer experiences, while cutting on costs, enhancing productivity, revenues and profits. There are many ways to succeed as a digital leader. But here is what we think are the most important factors that will define success in your role as a digital leader.
Understand your domain and marketplace
You do not have to be a technical whiz in digital technology to be digital leader. But you should know the digital domain and the dynamics that shape the digital world. An understanding of the digital marketplace and customer behavior are also essential as you are running a business at the end of the day.
Start with a vision and purpose
A vision in terms of what you want to achieve should be clearly articulated with your staff and that should be the driving guideline of your business. To have a vision is particularly important as the digital business thrives on innovation, disruption and a constantly changing business landscape. Having had a vision, you should ensure that your employees embrace it and its tenets drive your business in all its aspects.
Empower your employees
This is another important factor that determines what kind of a digital organization you want to build. Digital is all about experimenting and innovation. Are you flexible enough to allow your employees/teams to experiment, even if the result is uncertain? Some of the most successful leaders in the world run organizations that conduct numerous experiments on a day-to-day basis and keep transforming their offerings. So, empowering your staff is critical for you to succeed.
Collaboration is key
In a digital enterprise, teams just cannot afford to work in silos. IT must work closely with developers, digital marketers, data scientists and business heads and vice versa. Adopt concepts like DevOp, create a structure where teams collaborate closely to achieve business objectives and get all team members to own the business objectives.
Network extensively with everyone who matters in the digital space. These could be your peers, experts in digital technology, key customers and others. You can do this on various online forums as well as in offline conferences and meetings. Networking should be one of your priorities as a digital leader as it will help you have a grip on the pulse of the market at all times.