The 1-Hour Digital Leader Action Guide to Drive Return on Capital Employed
Susan Fulton, Digital Asset Vice President of InnovaGas, the leading industrial gas digital leader, is thinking about how she could boost Return on Capital Employed (ROCE) from 10% to 20% by the end of 2022.
Susan wants to establish a program for creating and launching innovative digitalized business models that will boost the ROCE.
She needs a simple strategy that shows specific prerequisites to achieve her challenging objective.
Susan defines the focused objective :
Creating Proporietary Virtual Assets to Boost Return on Capital Employed from 10% to 20% by the end of 2022
The Top 3 Digital Leadership Areas to Boost ROCE
Susan asked the RapidKnowHow Team to create a simple overview of key strategic actions to reach the ROCE objective.
RapidKnowHow provided a strategy map that demonstrates the top 3 digital leadership areas and key strategic actions to reach the 20% ROCE
Use the Digital Leader Map and read the action guide to get insight into the key strategic areas and actions to achieve your ROCE objectives by 2022.
1. Digital Governance
Digital governance provides the leadership guidelines for the company board and top executive management to thrive digital transformation and create stakeholder value.
Digital literate board and executive management
Your digital literate board and executive management ensure commitment from the top to start and thrive your digital journey rapidly.
CEO thrives digital transformation
The CEO is responsible for ensuring the successful digital transformation as the digital champion.
Creating Stakeholder Value
The most important strategic goal is to create and maintain stakeholder value, because of a global network of the most innovative stakeholders ensures the long-term, successful development of your company.
2. Business Modelling
Establishing a digital mindset across the entire organization is critical. Therefore you need to craft a breakthrough strategy and create and implement innovative business models. effectively.
Digital Central to Corporate Strategy
The digital strategy is important in order to lead the transformation process with the goal of continuously developing and quickly implementing new innovative digital business models.
Platform Business Strategy Established
The digital platform strategy ensures the integration of all business units with the goal of managing operations efficiently.
Creating Innovative Business Models
Developing and launching digital assets that generate sustainable cash-flow is a key activity in the digital transformation process which drives the confidence of all stakeholders.
3. Leadership & Talent
Leadership thrives the transformation process successfully.
That’s why successful digital leaders recruit and develop the best digital talents to digital leaders. The CEO communicates goals, objectives, key milestones through digital channels to stakeholders.
Commercial, Technical & Creative Skills
The most important skills of your organization to successfully lead your digital transformation are :
- Business Acumen in transferring company goals into solutions that create, deliver and capture value.
- Technology skills in building digital business platforms
- Creativity in creating innovative solutions
- Communication skills through various channels – digital and analogue
Recruiting Best Digital Talents
Therefore, it is vital to know, to challenge, and to promote your best digital talents, so that they stay with your company longterm.
CEO communicates via Digital Channels with Stakeholders
The CEOs key strategic task is to communicate key milestones in the transformation process to stakeholders through digital and analogue channels worldwide.
Get Started to Drive The 1-Hour Digital Leadership Program
Discuss the program with your management team to establish a commitment to drive digital transformation from your current business model to digital transformation rapidly.
Appoint one member of your team to the Digital Champion Role responsible for leading the process. Then the Digital Champion establishes a Digital Leadership Team that develops the digital starter program to drive Return on Capital Employed.
- The ultimate objective is to achieve a Return on Capital Employed of 15% by the end of 2022