Digital Transformation Framework
Since the digital revolution era a lot of companies have been trying to keep their business strategies up to date. Now we are experiencing unique times for all business activities. That is why Digital Transformation has become vital even for small enterprises.
Before starting your Digital Transformation journey, experts recommend defining your business strategy first. Many companies offer a unique opportunity to explore all the opportunities to go online and get your company a chance to compete with 100% digitally-driven large enterprises. It is called a Digital Transformation Framework.
What is Digital Transformation Framework?
The answer is really simple. Digital Transformation Framework or DTF is a complex tool used by an organization to define its business strategy, guide all existing departments and levels through the online journey. It helps to ensure that every part of business is not left without any attention during a transformation period. But every strategy needs a specific approach built on several factors like malleability, harshness, and unpredictability.
What Digital Business Strategy Approach is the best for your organization?
Today entrepreneurs have founded so many different companies and each business is unique despite their model, expertise, and industry. A one-size-fits-all approach is just a waste of time because of being non-adaptive to the current digital age. Imagine an old website with a boring design from 2005 that is not even adopted for a mobile resolution. Would you trust the company and buy some service or an item from it in a frequently changing digital world? The answer is obvious: we all must adjust to a modern business society where everything should be up to date, look beautiful and attractive, where all the processes are automated and running smoothly.
According to Boston Consulting Group, there are 5 effective approaches for every business before starting a digital journey and utilizing a custom based DTF:
1.The classical approach.
This kind of approach is very structured and consists of planning all business activities step by step. It is mainly used for highly predictable markets with low malleability. The market industry must be very narrow and stable like a cafe with several menu items or a factory that produces one or two specific goods when demand is not changing for 50 years. The reality today is that the classical approach is used less and less over time.
2. The adaptive approach.
This way of planning includes high predictability and low level of malleability. A trial-and-error approach is used among with short iteration cycles. If your business uses an adaptive approach you, as a manager, should plan all carefully and react on all the outcomes instantly.
3.The visionary approach.
The visionary approach is frequently used by early-stage companies where demand is low, competition is limited, but everything could be changed with no harm for any business process. It also needs a lot of persistence and even some intuition. If the company predicts the future market and implements digital strategy on time more than half of the market share could be conquered.
4.The shaping approach.
The shaping approach is divided by a single individual and the whole ecosystem, there is an interdependence between them. One person cannot have an impact on the global market, but when competitors, suppliers and partners have the same vision, market adopts to the businesses very easily.
5.The renewal approach.
This kind of approach is mainly used when business processes are going bad, uncontrolled, or underperformed. When it comes to a battle between new digital reality meets an old and narrow approach. The only right way to compete with a fully digitally covered competitor is to become even better in digital field.
Trust us the building of your custom Digital Transformation Framework and get the best outcome in just a few months of implementation.
At Ronwell Digital we offer a full cycle Digital Transformation including consulting, providing the right tools and strategies for your business with all its technological and IT-related services. We work together for better performance, increasing market share and sales funnel through the newly discovered digital channels.