Competition in business and sport as we know it is getting more fierce by the day. Businesses and sporting clubs are or should be constantly searching for that elusive edge, transformation talk is now common vernacular, if you’re not actively transforming your business or your club as a continuous improvement project, the digital tsunami will inevitably swamp you – and you may not even see it coming.
Technology platforms, the net and advancement in high speed data means your valued customers have more choices more often and their buying decision are only a few clicks away. Technology companies such as Google and Apple collect your personal data, your buying habits and your movements in real time, it’s quite possible they know more about you than even you know about yourself.
Business processes that in the past required skilled and semi skilled workforces are being replaced by robots, apps and artificial intelligence via high speed internet connections and the rate of change is increasing at supersonic speeds. New careers have emerging such as data scientist and CCO (Chief Customer Officer) and we can all recall some industries that have long gone because they failed to transform themselves.
Recently I attended a seminar hosted by the Australian Transformation and Turnaround Association where invited senior executives and consultants talked about their experiences with business Transformation. It was a real revelation, and it left me feeling that transformation is probably the most important issue on the CEO’s and boardroom agenda, Transformation is having a major impact on businesses and their customers. It is inevitable we will all be impacted one way or another.
Check out the Australian Transformation and Turnaround Association on Linkedin and stay abreast of this phenomena.