Leadership In The Digital Transformation Era
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Don Smithmier - GoKart Labs
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Leadership In The Digital Transformation Era
- 1. DON SMITHMIER LEADERSHIP IN THE DIGITAL TRANSFORMATION ERA DON SMITHMIER GOKART LABS
- 2. 2 WHAT WE’RE GOING TO COVER 1 WE'VE ENTERED THE AGE OF THE CUSTOMER WE ARE WITNESSING A MASS EXTINCTION EVENT, BUT IT CAN BE AVOIDED2 AVOIDING IT REQUIRES ADAPTATION, WHICH IS REALLY HARD3 THE PROBLEM ISN'T TECHNOLOGY OR MONEY -- IT'S HUMANS4 I HAVE A NEW METHOD/TOOL THAT CAN HELP5 WE'LL USE A REAL EXAMPLE TO LEARN ABOUT IT6 THEN WE'LL LEARN FROM EACH OTHER7
- 3. 3 LAST YEAR WE TALKED ABOUT THE AGE OF THE CUSTOMER
- 4. 1900 1960 1990 2010 Age of manufacturing Age of the customerAge of InformationAge of distribution Mass marketing makes industrial powerhouses succeed (Ford, Boeing, GE) Global connections and transportation make distribution key (Wal-Mart, P&G, UPS) The internet puts those that control the flow of information in control (Google, Amazon, Comcast) Empowered buyers demand a new level of customer obsession (Salesforce, Amazon, Macy’s) 4 AGE OF THE CUSTOMER
- 5. Age of the customer 2007 20222014 The Mobile Tipping Point With half of consumers buying via mobile, the competition is not just about price and speed, but about the digital experience they have with your brand 5 AGE OF THE CUSTOMER
- 6. 6 AGE OF INFORMATION = ACCESS + SCALE 6
- 7. 7 AGE OF CUSTOMER = ADAPTABILITY + SPEED
- 8. 8 “Since 2000, over 50 percent of Fortune 500 companies have been acquired, merged, or declared bankruptcy.” - Innosight
- 9. 9 - McKinsey “Mass-extinction events don’t just happen for no reason. In the current extinction event, the causal factor is digital transformation.”
- 10. 10 ADAPTATION IS HARD SPECIES WHO AVOID EXTINCTION HAVE THE ABILITY TO ADAPT
- 11. 11 INVESTMENT FOR BUSINESSES, IT REQUIRES… + CHANGE
- 12. 12 INVESTMENT FOR BUSINESSES, IT REQUIRES… + CHANGE HINT: THIS IS THE BIG ONE
- 13. 13 THE PROBLEM ISN’T WILLINGNESS TO INVEST
- 14. 14 DATA-DRIVEN DECISIONS $240B 2018 SPENDING IN DIGITAL TRANSFORMATION COMMUNICATION PLATFORMS & INNOVATIONS $326B TECHNOLOGY & OPERATIONS $662B HTTPS://WWW.TECHREPUBLIC.COM/ARTICLE/REPORT-DIGITAL-TRANSFORMATION-SPENDING-TO-HIT-1-7T-BY-2019/
- 15. 15 DATA-DRIVEN DECISIONS $240B 2018 SPENDING IN DIGITAL TRANSFORMATION COMMUNICATION PLATFORMS & INNOVATIONS $326B TECHNOLOGY & OPERATIONS $662B HTTPS://WWW.TECHREPUBLIC.COM/ARTICLE/REPORT-DIGITAL-TRANSFORMATION-SPENDING-TO-HIT-1-7T-BY-2019/ SO, ENTERPRISES ARE INVESTING BUT MANY ARE ONLY SPENDING ON ONE PART OF THE PROBLEM
- 16. 16 TECHNOLOGY STRUCTURE CULTURE TALENTMETRICS SUCCESSFUL TRANSFORMATION REQUIRES FOCUS ON 5 KEY AREAS
- 18. 18 TECHNOLOGY STRUCTURE CULTURE TALENTMETRICS THE MAJORITY REQUIRE HUMAN CHANGE
- 19. 19 STARTUPS DON’T NEED TO TRANSFORM, THEY JUST NEED TO GROW
- 20. 20 THE PURPOSE OF DIGITAL TRANSFORMATION IS TO ACCELERATE YOUR COMPANY’S ABILITY TO MEET CUSTOMER EXPECTATIONS
- 21. 21 LET’S TALK ABOUT HOW TO MANAGE TRANSFORMATION
- 22. 22 VIJAY KNOWS WHAT’S UP THREE BOX SOLUTION VIJAY GOVINDARAJAN
- 23. 23 THREE BOX SOLUTION Abandon ideas that inhibit growth or innovation FORGET THE PAST BOX 2 Build the future through innovation BUILD THE FUTURE BOX 3 Keep your core business strong and efficient PROTECT THE PRESENT BOX 1
- 24. 24 “Every act of creation is first an act of destruction.” - Pablo Picasso
- 25. 25 BOX TWO IS THE KEY TO TRANSFORMATION Abandon ideas that inhibit growth or innovation FORGET THE PAST BOX 2 What are the “weak signals” from the future? What are the Sacred Beliefs that need to be challenged? What incentives + policies slow our innovation? What should we stop doing? How will we avoid the three traps?
- 26. To win in the future, we just need to do what we’ve done in the past TRAP COMPLACENCY This new thing threatens our core business, so I want to kill it TRAP CANNIBALIZATION We’re amazing. No one is good enough to beat us at our own game TRAP COMPETENCY 26 FORGET THE PAST Abandon ideas that inhibit growth or innovation FORGET THE PAST BOX 2 Build the future through innovation BUILD THE FUTURE BOX 3 Keep your core business strong and efficient PROTECT THE PRESENT BOX 1
- 27. 27
- 28. 28 BLOCKBUSTER’S 3-BOX Shorten store lines Improve supply Incentivize timely returns and rewinding Candy & popcorn for more $ per visit BOX 1 The internet won’t affect our business People like coming to stores Movies are played on a machine (vcr/dvd) Licensing deals can’t be changed Movies can’t be downloaded BOX 2 ? BOX 3
- 29. 29 BOX 2 THINKING BOX 3 THINKING The internet won’t affect our business But how might it? People like coming to stores What if they don’t? Movies are played on a machine (vcr/dvd) Will that always be true? Licensing deals can’t be changed What if they could be? Movies can’t be downloaded How soon could that change?
- 30. 30 FORM A BOX 3 TEAM WHAT COULD THEY HAVE DONE? SEPARATE THEM FROM CORE BIZ CHARGE THEM WITH WORKING ON THE “WEAK SIGNALS” FROM THE FUTURE INCENTIVIZE THEM DIFFERENTLY PENALIZE ANY “FOOT DRAGGERS” WHO BLOCK THEM
- 31. 31 IN THE MIDST OF THE MOST DIGITAL TIME IN HISTORY, WE HAVE TO BE MORE HUMAN THAN EVER
- 32. 32 HUMANS STRUGGLE WITH CHANGE BECAUSE OF INGRAINED BEHAVIORS AND LIMITING BELIEFS IT’S NOT EASY BY NAMING AND CHALLENGING OUR LIMITING BELIEFS, WE CAN CHANGE OUR BUSINESSES
- 33. 33 THREE BOX SOLUTION Abandon ideas that inhibit growth or innovation FORGET THE PAST BOX 2 Build the future through innovation BUILD THE FUTURE BOX 3 Keep your core business strong and efficient PROTECT THE PRESENT BOX 1
- 34. 34 LET’S TALK ABOUT IT
- 35. THANK YOU