Doing Businesses The Right Way

By | January 31, 2017

Digital Transformation- A Holistic Approach In the recent time, digital technology and the manner in which people use it in every aspect of their lives, job, and society, has seen the continued change in the business. It may not be quite right to use the term digital transformation to describe the realities that it covers. To get in line with the business aspect, the term digital business transformation is mostly preferred. The broad meaning of digital transformation not only covers aspects of business transformation but also used to describe changes and evolution that take place in other areas, for instance, the society or the government. Digital Business Transformation Areas The business Processes Business processes that include one or more connected activities, operations, or sets geared towards achieving a given business goal, whereby business process like management, optimization, and automation come into the picture. Business process optimization is an important tool in digital transformation strategies and is also a customer-facing tool.
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The Business Models in Use The manner in which the business functions from the marketing strategies, to the value proposition to its means of seeking money and effectively transforming its core business, and at times the need for it to drop its traditional main business after a while.
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Business Ecosystems This has to do with the network of partners and stakeholders in addition to the contextual factors that affect the business like the regulatory priorities and evolution. Organizations come together to form new ecosystems by digital transformation and information, and use data and actionable intelligence as an asset of innovation. This is not an exhaustive list of the areas that digital business transformation covers, there are still other major areas and though some overlap, they cannot be avoided. The Reasons for Digital Business Transformation In essence, the digital business transformation is the process of changing your business from an old platform to a new digital platform that is efficient and exciting. As mentioned earlier, there are several areas in which digital business transformation occurs; however, the benefits mentioned here are about sales and marketing. The speed at which E-commerce is being adopted is high and the old methods of advertising have been kicked off. The physical world of phones, mail and fliers has undergone a digital transformation, and people are now using the web. Businesses that are service oriented as compared to retail are in much trouble if they are not digitally evolved. In this era, people are no longer using the Yellow pages to search for firms and other such information; instead, they search online for all information. Business that have online presence provide their customers with enough proof of their existence, and also the customer can read through the reviews of other clients. To summarize, the only way to bring about the maximum challenge in change management is through Digital Business Transformation. It impacts on the business structure and the strategic positioning as well as all organizational levels.