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A digital transformation can be associated with considerable challenges at a strategic level.
What are the most important factors for the success of a digital transformation in the area of strategy development?
​​There are numerous success factors for effective and efficient strategy work. Depending on the initial situation of an organization, these can vary considerably. We have compiled some of the factors that are particularly relevant to us below.
00
Follow a process in strategy work:
In order to maintain focus and not get bogged down in strategy work, it is important to define a process.
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Willingness to break patterns, rules, beliefs and assigned identities:
If you really want to go new ways, you have to be prepared to leave old ways behind. How you
As you can see from this list, we also allowed ourselves to break our own pattern :)
01
A common vision of the future:
Effective strategy work depends on a clear vision of the future. In digital transformations, there are often very different visions of the future.
05
Agility and adaptability:
A flexible strategy enables you to quickly adapt to changing market conditions, major learning leaps and new technologies.
02
Understanding digital transformation:
A deep understanding of digital technologies, trends and opportunities is important to make informed strategic decisions.
03
Focus on Exploit or Explore?
In our context, exploit describes the focus on increasing efficiency (through digitalization and automation) of existing business models. Explore stands for the exploration of new opportunities and possibilities in the context of digitalization (new technologies, products, business models).
04
Involvement of employees:
Early and targeted involvement of employees enables greater acceptance of implementation, and the transition to "doing" can take place more quickly.
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Involvement of customers:
A good strategy for digital transformation should always generate concrete customer benefits, so it is helpful to involve customers early on and analyze them very precisely. Concrete, qualitative information is usually more helpful than abstract survey results or second-hand assumptions about customer needs.
07
Internal and external partnerships:
Cross-departmental action, entering into strategic partnerships with technology providers, scaling partners, consultants, complementary service providers in order to become faster, to be able to offer the customer additional benefits or to gain access to specific know-how, resources and new technologies.
08
Data and AI orientation:
Make data and artificial intelligence central learning and action areas for the organization. Data and analyses can be integrated into strategy development to make informed decisions, identify data-based opportunities or develop data-based scenarios.
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Cultural design:
Even during strategy development, consideration should be given to promoting a culture of openness, innovation, learning and continuous improvement.
10
Measurable success criteria:
Clear indicators and metrics make it possible to measure the progress of digital transformation and ensure that the organization is pursuing its strategic direction.
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