Rapid Business Model Innovation is our series of breakthrough strategies to help innovative service providers starting their digital transformation journey rapidly.
We created the digital laggards versus digital leaders business model to turn your current laggard position into digital leadership. Let’s start the journey.
Digital Ignorant – Non-Believers in Digital Opportunities
Digital Laggards are companies that do not recognize the opportunities of Digital Transformation or whose owners and executive management do not know them as strategic. Therefore, these companies do not invest in the development of innovative digital strategies.
This fact makes these companies laggards that will quickly lose their competitive edge in this dynamic business environment.
Losing the competitive edge rapidly
- Don’t recognize opportunities of digital transformations
- Owners and Executive Management do not know the strategic opportunities of digital transformation
- Losing the competitive edge rapidly
Defend Existing Business Model – Apply Only Proven Business Systems
Digital laggards are defending their existing business model, where they have – often for years – developed working processes that they have optimized over time with process systems. That’s why senior executives are against change because it can significantly affect business risk.
This fact makes management skeptical of any changes to these working systems, processes, and routines.
Top management maintains the status quo
- Defending the existing business model
- Top Management against change because of business risk
- Top management skeptical of any changes in the existing business process
Managing from the Top – Managing Efficiency
Digital laggards were micromanaging their businesses from the top. This fact suppresses initiatives of ambitious employees who often leave these companies in frustration.
Therefore, these companies lack the employees with entrepreneurial and leadership skills who can successfully implement the digital transformations in the form of projects and programs.
Lack of competent program leaders who can thrive digital transformation
- Micromanaging business from the top
- Ambitious employees get frustrated and leave the company
- Lack of competent program leaders who can thrive the digital transformation process
Digital Driver – The Digital Leader
Digital Drivers are companies and leaders in these companies who believe that developing a digital business model will give their businesses a competitive edge over the long term. That’s why these companies invest in improving the digital skills of their entire workforce.
Their ultimate goal is to make their organizations flexible, agile and fast in recognizing and implementing new business opportunities and become the stakeholder leader in their sector.
Creating an agile organization
- Digital Drivers want to become digital leaders of their sector
- Investing in improving digital skills of their workforce
- Making the organization flexible, agile and fast in creating, delivering and capturing stakeholder value
Thrive Transformation – Creating Sustainably Stakeholder Value
Top Management of digital drivers shows a strong commitment to transforming their business into a leading digital company in their sector.
That’s why these companies are establishing a mission that reflects their commitment.
They nominate a digital champion from the top management, who is responsible for leading the digital transformation process.
The Digital Champion thrives digital transformation
- Top Management committed to thriving Digital Leadership
- Specific mission for thriving digital leadership
- Digital Champion leads the digital transformation process
Leading from the Front – Leading Innovation
Successful companies have recognized the need to build and develop close relationships with their key stakeholders.
They use multiple channels like personal business networks, social networks, video conferences, video seminars to create, deliver value to their most innovative stakeholders rapidly and sustainably
The goal of these companies is to build strong relationships with the most innovative stakeholders to reach the global digital leadership position in your business sector in the medium term.
Building strong relationships with most innovative stakeholders thrive digital leadership
- Developing close business relationships with key stakeholders
- Using multiple business channels to create, deliver and capture value
- Build strong relationships with your most innovative stakeholders to reach global digital leadership position rapidly and sustainably.
The rapid start to a digital transformation process is crucial to the sustainable success of the initiative.
RapidKnowHow recommends companies to nominate the most successful key account managers as project managers for the rapid implementation of innovative business models. They focus is on creating, delivering and capturing value from most innovative customers.