The global digital transformation is only at the starting line in the race for new developments. The companies that can get a good head start and catch a profitable lead from the beginning stand a much higher chance of winning in the long run.
Almost every industry is undergoing a major transformation and the root of this paradigm shift is in technology. The fact is, all consumers are shifting their focus online. Amidst this phase, the companies that can and are able to tap the interests of these customers first stand to benefit the most.
In order to improve ROP, companies have to cultivate the following 3 skills within their teams:
1. Strong business skills
Profit and loss, cost control, cash flow, customer service and retention, stakeholder management, and commercial management are just a few of the core activities going on in everyday business. Despite the digital shift and regardless of the operations of a firm, companies today need to know how to manage each aspect of a business. Having a team of people with solid business acumen still remains a top priority.
2. Comfortable with technology
Often, senior members and executives tend to shy away from continuous learning. In some fields, there is such a thing as required continuing education and most of the time, it is self-directed. However, not seeking to learn all that one can is a clear dead end for any company. As technology keeps developing, employees will have to learn new skills and keep sharpening the old ones in order to stay ahead. Hence, being comfortable with technology is a necessity. In the age of AI and robots, companies must be able to leverage their people’s skills to win the race between technology and people.
Digital does not stop at functional boundaries; it flows through an organization to create integrated offerings. It is not just the IT department that has to be well read and aware, but every department and employee needs to have the knowledge necessary to make advances at a quick rate. Executives must work together to identify and exploit opportunities in the digital world.
Organizations that develop these additional capabilities across their leadership team and employee workforce are far more likely to leverage success in the digital age than those who don’t.
Megha Shah for TechFunnel.com