3 Obstacles Faced by Company Leaders when Initiating Digitization
In the next ten years, nearly five billion new people are expected to come online through access to high- speed internet. This means new markets and potential customers waiting to be tapped. In an increasingly digital world, leaders need to critically evaluate conservative models and explore creative paths of thinking. The industry will be transformed, whether the company transforms or not. As we enter an era of intense globalization, leaders must harness crucial mechanisms by exploring technological news and updates.
Alignment of Organization and Mindset
During digitization, there is a high risk of a workplace mindset developing where the traditional way of functioning seems preferable or easier. Employees can become resistant to learning new skills and adapting to a different functionality. Statistics in the IT industry show that,
"94% of IT employees are too risk adverse, process-centric, or removed from the day-to-day work of their colleagues to support the innovation and digitization that’s taking place in their firm."
To convince skeptical employees, company leaders should reach out to staff influencers and get them on board. Running fun and informative pilots of different technologies, will help managers implement a user- friendly software that employees can easily be trained to use.
With enhanced digitization comes the need to address cybersecurity. Humans have moved ahead of machines as the top target for cybercriminals. Currently, there are around 2.5 million cyber security threats per second.
The Department of Homeland Security recommends investing in Cyber Risk Management and Cybersecurity Insurance. The policies provide preventative measures and protection from a wide variety of cyber incident losses, such as data breaches, network interruptions and system failure.
Handling Big Data
In articulating their digital vision, leaders have to assess existing IT architecture that enables the day- to- day operations of a business. Digital systems that can flexibly respond to changes in portals, mobile apps, and other aspects of the end- user interface are critical for a successful transformation.
Leaders have to strengthen the analytical potential of their companies if they wish to be a serious contender in the digital market. That means going beyond small data, and investing in innovation systems and information technology. Handling computational statistics associated with Big Data will develop a company's competency.
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