Total Enterprise Reinvention - Is Your Company's Strategy Succeeding? by Mark Hewitt
Is your organization successful in aligning its business strategy with its digital strategy and business architecture (software architecture, data architecture, security architecture, infrastructure architecture)? Are these critical strategy elements truly now inextricably linked and one and the same?
On average, organizations Accenture found to be future-ready showed a 2.8x boost in corporate profitability.
Source: Accenture research; Fast-track to future-ready insurance operations; March 2021.
Underpinning organizations which are successful in negotiating compressed transformation are:
Optimism about the potential of mega-trends like cloud computing, increased computing speed (via ML, AI, and quantum ahead), and business architecture
An outlook embracing the ever changing nature of today’s digital landscape
A can-do esprit de corps that anoints and empowers leaders, managers, and employees by instilling a team decision-making mindset and empowering comfort with change
Cross departmental experimentation and flexibility to pivot quickly without causing frictions (proactive, not reactive)
Adoption of a posture that embraces sound technology architecture, modularity, cloud-first, sustainable operations, and increased computing speed and tools, and
A culture of perpetual/re-education grounded in a comfort with change.
Compressed transformation: a strategy that is based on looking across the entire enterprise’s operations, choosing a single approach to the transformation and partner, reimagining the business end-to-end, harnessing technology, and executing with incredible speed to drive down costs, improve the experience for customers, partners, and employees and deliver value over time.
Source: Accenture Intelligent Operations Blog , March 2022.
Organizations that will successfully weather the current 2023/24 recessionary period are characterized by a new type of leadership and team DNA. All business strategy now requires a digital focus and a holistic view of the effects across the enterprise. Early wins are evidenced in finance, sales, marketing and legal departments, but the balance of the enterprise must follow. Resilience and an acute focus on revenue-generating, digital-friendly products and services is the name of the game.