Yuri B. Aguiar - Digital (R)evolution: Strategies to Accelerate Business Transformation
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- Book:Digital (R)evolution: Strategies to Accelerate Business Transformation
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Why digital transformation is necessary and how to develop and execute a successful digital transformation strategy
Even though the term Digital Transformation is prevalent throughout the current business landscape, various misunderstandings and misconceptions are often attached to it. Everyone agrees that digital transformation is essential for any enterprise, but few can define what it actually means to the modern business. Digital transformation does not specifically or exclusively define the consequences of digital technology. The term refers to the fact that technology, which happens to be digital, enables people to solve their traditional problems with digital solutions. Its not to say that their problems could not be solved using the older methods, they simply prefer the new way. Digital (R)evolution: Strategies to Accelerate Business Transformation explains why digital transformation is necessary and provides a framework for executing an effective implementation strategy.
Filing a significant gap in current knowledge, this timely book helps senior executives and technology leaders create practical strategies which, when correctly applied, lead to successful digital transformation. Author Yuri Aguiar, Chief Innovation and Transformation Officer at The Ogilvy Group, shares his real-world insights on developing new, digital-based business models and internal processes. Written in clear, straightforward language, this valuable guide:
- Serves as a blueprint for successful digital transformation in any enterprise or organization
- Addresses the strategy and governance requirements of businesses regardless of industry
- Features in-depth, firsthand examples of various transformation strategies
- Explains the factors than cause strategies to succeed or fail
Digital (R)evolution: Strategies to Accelerate Business Transformation is a much-needed resource for C-suite executives, corporate board members, corporate attorneys, investors, and venture capitalists.
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YURI AGUIAR
2020 by John Wiley & Sons, Inc. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 7508400, fax (978) 6468600, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 7486011, fax (201) 7486008, or online at www.wiley.com/go/permissions.
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Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with standard print versions of this book may not be included in e-books or in print-on-demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com. For more information about Wiley products, visit www.wiley.com.
Library of Congress Cataloging-in-Publication Data:
Names: Aguiar, Yuri, author.
Title: Digital (r)evolution : strategies to accelerate business transformation / Yuri B Aguiar.
Description: First Edition. | Hoboken : Wiley, 2020. | Includes index.
Identifiers: LCCN 2019053582 (print) | LCCN 2019053583 (ebook) | ISBN 9781119619734 (hardback) | ISBN 9781119619741 (adobe pdf) | ISBN 9781119619789 (epub)
Subjects: LCSH: Business enterprisesTechnological innovations. | Information technologyManagement. | Strategic planning.
Classification: LCC HD45 .A4768 2020 (print) | LCC HD45 (ebook) | DDC 658.4/06dc23
LC record available at https://lccn.loc.gov/2019053582
LC ebook record available at https://lccn.loc.gov/2019053583
Cover Design: Wiley/Aaron Aguiar
Cover Image: imaginima/Getty Images
For Lynn, who taught me resilience
For Aaron and Brandon, who inspire me every day
For my parents, who taught me the value of hard work
For my grandmother, my role model growing up
For family and friends who were always there through the good times and otherwise
Waterwheels transformed agriculture and electricity transformed manufacturing. Today, digital technologies are transforming everything.
The scope of this transformation is truly astonishing. It's not surprising that many companies find the challenges of digital business transformation overwhelming. That's why this book is so important. It's a practical guide for navigating the rough waters ahead of us.
This book is also a potent reminder that genuine transformation is always about people and about providing tangible opportunities for real growth. Transformation is a process, and it moves along a fairly predictable path. This book will help you stick to the path and not get distracted.
From my perspective, transformation enables and empowers companies to utilize both customer data and performance data to create new revenue lines that are both vertically and horizontally integrated. Transformation sets the stage for creating new business models and new forms of commerce.
Digital transformation is necessary for success and survival in today's economy, since every company can be considered a technology company and a potential competitor. The explosion of digital technology has opened the floodgates for new entrants in every sector of the global economy, putting every established incumbent and legacy organization at risk.
The prime example of this phenomenon is Amazon, whose brilliant use of data analytics completely disrupted the retail industry. There's a harsh lesson to be learned from Amazon's rise: if existing companies neglect to embrace digital technology, new entrants will certainly attempt to disrupt their business models.
The rapid success of Amazon and other digital disruptors has left many executives in a state of shock. Many organizations seem overwhelmed by the sheer scale of change they face. From the perspective of a traditional company, the challenges can appear insurmountable.
When people feel helpless, they often make rash decisions that prove untenable over time. In their rush to do something, they make mistakes. Aiming for short-term victories, they sacrifice strategic goals. Reading this book will help you overcome whatever natural sense of panic you might be feeling. This book will help you slow down and thoughtfully consider the logical steps of business transformation.
From my perspective, the best approach is setting reasonable milestones and focusing on incremental gains. Establish measurable and specific key performance indicators (KPIs), benchmarks or milestones that will guide you gradually toward success.
Don't just say, We want transformation. Instead, decide what transformation looks like to you and how you will get there. Develop a plan ahead of time and stick to itbut don't be afraid to update it as you move along your transformation journey. Cultivate trusted partners to help you execute. Revisit your transformation strategy regularly to keep growing far into the future.
The power of technology is both exciting and compelling. Helping other people recognize what an effective strategy can create for them and seeing them getting excited about itthat's a great feeling.
We all love to read and hear about success stories, where everything works. This book will help you and your stakeholders write your own success stories.
Some people ask me, What's next? What comes after transformation? Frankly, I believe the next big challenge will be answering the same questions that successful, forward-thinking companies have always been asking:
- How can we provide further opportunities for our employees, our experts, our leaders, and our creative thinkers to grow and develop?
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