Company executives in every industry need to be involved in their company's digital transformation. It is imperative that the focus be on improved business outcomes - not just technology implementations.
This is not something to be delegated to IT. Instead c-level execs need to think through how their organization needs to be organized and incented to ensure teams work together to create new value and value delivery systems through these digital transformations.
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C suite Involvement is Imperative for Successful IoT and Digital Ttansformation
1. IoT World Europe
Executive Roundtable
London June 13, 2017
Why C-suite Involvement is Imperative
for a Successful Digital Transformation
Chris Kocher
Managing Director
Grey Heron
2. There is Nothing New in IoT
- but everything has changed
we grow value and build leaders
Networks
Big Data
Solenoids
Chips
Sensors
Compute engines
Clouds
Smart Phones
Platforms
Appliances
Analytics
Storage
Communication
protocols
Security
Things
Devices
3. Each Wave of Computing Innovation Disrupted
Incumbents and Created Massive Markets
we grow value and build leaders
IoT, Sensors
and Devices
2010s – 2020s
Minicomputers
1970s-1980s
Mainframes
1960s-1970s
PCs and Laptops
1980s – 1990s
Smartphones,
Tablets 2000s-2010s
Each New Wave Created
• New users
• New behaviors
• New use cases
• New distribution channels
• New markets
• New business models
• New revenue streams
Each yielded $100Bs
4. There is No Escaping Digital Disruption
Consumer Community Commerce
we grow value and build leaders
Connected Cars
Retail
Wearables - eHealthcare
Connected Homes
Intelligent Transportation
Agriculture 2.0
Smart Cities , eGovernment
Smart Buildings:
Energy, Light, Security
Mfg,, Mining, Oil & Gas
Utilities and Energy Grids
5. IoT Presents Enormous Opportunities
we grow value and build leaders
30-50
Billion
CISCO
Devices by 2020
$2.5
Trillion
6.6
Sensors
Per Person by 2020
GSMA
GartnerGE
$10-15
Trillion
Global GDP productivity
gains over next 20 years
IoT Value in 2020
$4-11
Trillion
Global IoT market
by 2025
McKinsey
$309
Billion
Additional supplier
revenues by 2020
$1.9
Trillion
Cost savings and
improved productivity
$7.1
Trillion
IDC
Market for IoT
Solutions in 2020
GartnerCISCO
6. Every Business Sector Will be Effected
we grow value and build leaders
IoT alone has fueled
over $80B in M&A and
$30B in VC investments.
- Bain and Company
IoT Economic Impact will
reach $3.9 -11 trillion.
- McKinsey (May 2017)
7. CEO’s View of Technology’s Importance
Fortune CEO
Survey June 2017
8. What Decision Makers Want from IoT
we grow value and build leaders
Industry of Things World Survey of 1124 decision makers March 2017
9. But It Is Still Early Days in IoT Adoption
we grow value and build leaders
IOT CRITICAL TO
COMPANY
SUCCESS
88%
COMPREHENSIVE
STRATEGY IN
PLACE
16%
Industry of Things World Survey of 1124 decision makers March 2017
10. Many IoT Implementations are Still Proof of Concepts
we grow value and build leaders
McKinsey Survey May 2017 “What’s new with the Internet of Things?”
11. 3 of Top 5 Obstacles to Adoption are C-level issues
we grow value and build leaders
Security and Privacy 62%
•Industry associations, vendors and regulatory organizations
Industry Standards 39%
•Industry associations, vendors and regulatory organizations
Management vision and buy-in 37%
• C-suite and Executives
Risk averse culture 33%
• C-suite and Executives
Lack of budget 30%
• C-suite and Executives
Industry of Things World Survey of 1124 decision makers March 2017
12. Leaders Can Start Taking Steps Now
- IoT Transformation is a Journey, Each One is Different
1. Are there 3-4 company objectives or strategies that can be accelerated by applying
IoT? How do we Align IoT Initiatives with these goals?
2. How can we Monetize IoT by streamlining operations, creating better customer
experiences or increasing revenues?
3. Can we leverage IoT with our core strengths for Value Creation of entirely new
products, services or business models?
4. In which ecosystems do we participate and how can we leverage IoT within them
to improve our Value Delivery Chain to our customers?
5. Can we leverage IoT and partnerships to get into New or Adjacent Markets?
6. How can IoT provide us competitive differentiation?
7. How do we best nurture IoT initiatives?
– Creating the right organization structure and incentives
– Addressing cultural issues
– Allocating enough budget and the right resources
– Measure and manage them for success
we grow value and build leaders
13. Critical Variables for Success in IoT Transformations
we grow value and build leaders
1.Align with customer value - not your technology or internal systems
2. Leverage the right ecosystems: - partner, partner, partner
3.Examine business model innovation - not just product
4.Define your monetization strategy -not just technology vision
5.Bust internal, functional silos -build customer-focused organizations
6.Focus on Business Outcomes – rethink how you deliver value
14. About Grey Heron:
translating technology into market leadership
we grow value and build leaders
• 23 years, 130+ clients
• Strategy, marketing/positioning, fund-raising, interim executive, advisory
• Strategic BD, M&A, turnarounds
Emerging companies use us to accelerate key initiatives:
•Outside perspective; fire-harden and tune strategy
•Develop powerful, differentiated story; raise visibility
•Fund-raising
•Orchestrate march toward value-building milestones
•Integrated sales and marketing programs