The same customers who were buying its core products were also voicing concerns about access to clean water. For example, according to a DMG Consulting report , the Cloud-Based Contact Center Infrastructure (CBCCI) market has increased its number of seats by 20.1% between 2017 and 2018. Digital transformation can be disruptive, however, the training for it shouldn’t be. Not every principle is equally important every time … Here’s a shot of the whiteboard for your reference! After investing €10 million the new contract service platform ‘Kloeckner Connect’ and new B2B webshop launched in March 2016, achieving: Copyright © 2019 Mentor Europe Associates Ltd. All rights reserved. The transformation traces back to 2016 when the first Microsoft Surface 3s were made available to schools in regional and remote areas. The combined company is now one of the world’s leading suppliers of hardware, software, and chemistry that helps manufacturers and service firms become more efficient users of water. Successful companies, our findings suggest, typically favor an all-in, enterprise-wide transformation, rather than constraining the transformation to individual business units or functions. Our research team screened all the firms in the S&P 500 and Global 2000 using three lenses: Our initial phase of research identified 52 companies making substantial progress towards strategic transformation—merely 3% of the public companies in our data set. These transformations help organizations compete more effectively, become more efficient, or make a wholesale strategic pivot. To give you a better understanding of what real 'Digital Transformation" looks like, here are 5 real businesses that leveraged new technologies to digitally transform and evolve their business. 5 excellent examples of successful transformation programs. World’s Largest Meeting of Enterprise Architects Concludes: Real-World Examples of Successful Business Transformation Journeys Bonn, Germany & Boston, MA –September 4, 2020 - LeanIX , a provider of Software - as - a - Se rvice solutions for Enterprise Architecture (EA) and Cloud Governance, today co ncluded day one of its two - day EA Connect Days conference. Mobile Network Operator Launch. Others look at business transformation as the start of a change – a process that starts with purpose, strategy, and vision, and then takes shape through a series of changes to the business. I use it as a checklist. However, digital transformation takes on different forms, depending on the industry, and encompasses unique business challenges and goals. Only in subsequent years did founder and CEO Pony Ma Huateng broaden the firm’s outlook by embracing a mission of “improving the quality of human life through digital innovation.” Since 2011, Tencent has invested heavily in new growth ranging from education and entertainment to autonomous vehicles and ride sharing to fintech and the industrial internet—areas that together now represent 25% of its $46 revenue. With a rich history spanning over 125 years and some of the big names such as Thomas Edison as its founding fathers, General Electric is one of the pioneers and one of the most iconic brands in electrical industry. Siemens moved beyond a purpose of maximizing shareholder value to a mission of “serving society.” This transformation began in 2014 with a plan called Vision 2020 that called for harnessing technologies such as AI and the Internet of Things. Rather than task one department with bringing about the change, the company intends to involve every single employee. There are many digital transformation examples of small to large scale businesses that will help you to understand digital transformation. The T-20 study identified the global companies that have achieved the highest-impact business transformations over the past decade as measured by new growth, respositioning the core business, and financial performance. The company managed to cut the cost by more than 60% while building three major new ocean-based wind farms in the U.K. and acquiring a leading company in the U.S. HBO, not Dish.”. This category only includes cookies that ensures basic functionalities and security features of the website. The transformation began by talking to customers, Baker says. In 2019, Tencent refined its mission once again, in response to the growing global backlash against technology’s dominance in our lives, boiling it down to: tech for social good. Each of these companies developed new-growth businesses outside its traditional core  which have become a significant share of the overall business. Fortunately, you can take steps right now to first transform your workforce and then your business. 1. Infusing a higher purpose into the company called for pushing decision making out from the center to every business unit, so that managers and rank-and-file employees feel they have a stake in future success. Polaris Digital Transformation in the Enterprise 1. Starbucks, not 7-Eleven. Digital transformation at Banco Bilbao Vizcaya Argentaria (BBVA). Accurate, high-quality data is the critical foundation for engaging customers digitally. Which business transformation principles am I talking about? Manhattan is the most densely populated county, placing high demand on transport infrastructure. Business transformation is an umbrella term for making fundamental changes in how a business or organization runs. Roisin Woolnough asks Janice Miller, director of leadership programmes at Harvard Business Publishing, about HR’s role in ensuring transformation is successful. Digital Transformation in the Enterprise 1. What does digital transformation look like in practice, and how has it already changed the way we do business? Digital Transformation Success Cases: Real World Examples Thriving in the digital age is closely related to innovation and digital transformation strategies. However, we believe it’s the decision to infuse a higher purpose into the culture, one that guides strategic decisions and gives clarity to everyday tasks, that has propelled these companies to success. They’re awkward and expensive, demanding complex, high-speed interactions between internal functions and major suppliers. Typically, the future of the business depends on their success. In 2014, Tele2 (Netherlands) wanted to accelerate the launch... 2. 1. Capital One was the first bank to welcome Amazon’s Alexa virtual assistant into its voice activated financial transactions system. VALUE: Judge change by how digital transformation helps create the next business; Since digital transformation doesn’t happen overnight, it also doesn’t hurt to show short-term wins along the way. 7 Examples Of Successful Digital Transformation In Business 1. https://hbr.org/2019/09/the-top-20-business-transformations-of-the-last-decade Some entrepreneurs and corporate managers, when they think of digital transformation, end up getting ahead of themselves. Each of these companies developed new-growth businesses outside its traditional core which have become a significant share of the overall business. Successful digital transformation requires an agile workforce that is ready to change, reskill and upskill. In 2014, Tele2 (Netherlands) wanted to accelerate the launch of a new mobile business with a capital cost of £150 million. Since unveiling that new purpose, Netflix revenue has roughly tripled, its profits have multiplied 32-fold, and its stock CAGR has increased 57% annually, versus 11% for the S&P 500. Businesses would be successful with their transformation when they are prepared for the changes and have a … Examples of digital transformation: Discover how companies like Porsche, ... AmerisourceBergen realized early on in their journey that business transformation can only be successful when a culture of innovation is established across the entire ... Each team had to take ownership AND leadership of their own part of the business. These transformations help organizations compete more effectively, become more efficient, or make a wholesale strategic pivot. Business transformation can mean different things to different people. However, digital transformation takes on different forms, depending on the industry, and encompasses unique business challenges and goals. DBS was named among the top 20 companies globally that have pulled off a major transformation of their business, alongside Netflix, Amazon and Alibaba, in a study by strategy consulting firm Innosight. “Our strategic plan was to sell more of what we had,” Baker says. When the firm now known as Ørsted divested its oil and natural gas businesses and began phasing out coal, that created a giant earnings gap that urgently needed to be filled. In Mexico this figure was 29.6%, Redefined organisational structures to nurture change and innovation, 2,400+ customers signing up to the service with TalkTalk and Sky since the beginning of 2016, York placed as one of the top digital infrastructure cities in the UK, Broadband speeds up to 100x faster than the UK average, Programme to be expanded to cover 40,000 more premises by 2019, Estimated 2000,000 use the line on an average weekday, Extra lifts and escalators for people with mobility problems, 500+ customers onboarded in Germany, Austria and Hungary within 3 months of launch, Increase in digitally managed revenue to more than 50%, Net Working Capital reduced by almost €200 million (35%+ drop), New innovation process established – lean, agile, customer-centric. Key Components for Successful Business Transformation . To give you a better understanding of what real 'Digital Transformation" looks like, here are 5 real businesses that leveraged new technologies to digitally transform and evolve their business. “It had to be a radical transformation; we needed to build a new core business and find new areas of sustainable growth. Click here to see the full T20 study results and methodology. Riyad Bank’s Enterprise Business Intelligence Competency Center 114 E.SUN Bank’s Customer Risk Value Organization 118 Success Story Takeaways 120 Applying the Lessons from E.SUN and Riyad 121 The Most Important Characteristics of Successful Business Transformation Strategies 121 A Step-by-Step Look at the Key Components 122 They determine that an innovative technology – big data, or artificial intelligence, for example – is the flavor of the month and they look for ways to implement it in their business. The board hired a former executive at LEGO, Henrik Poulsen, as the new CEO. 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