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Digital Darwinism AMBA


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Digital Darwinism and Digital Transformation slides to be presented at the AMBA (Association of MBAs) Refresher Day, Edinburgh, 10th June, 2015.

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Digital Darwinism AMBA

  1. 1. ENERGISE2-0.COM Digital Darwinism and Digital Dinosaurs Dr Jim Hamill @DrJimHamill 10/06/15 1
  2. 2. ENERGISE2-0.COM Digital Natives By 2025, Digital Natives will account for 70% of the global workforce and they will be shooting dinosaurs 2
  3. 3. ENERGISE2-0.COM Questions If you have any questions, don’t bother asking because I don’t really care if you have any questions, what your opinion is or what you think. If you ask a question I will ignore you  3
  4. 4. ENERGISE2-0.COM Stop and Reflect Question How many organisations treat their customers that way? How ‘social’ is your organisation (externally and internally)? Four out of five companies do not respond to customer comments on social channels 4
  5. 5. ENERGISE2-0.COM Core Theme We live in an era of Digital Disruption and Digital Darwinism
  6. 6. ENERGISE2-0.COM Core Theme A new breed of senior executive is required
  7. 7. ENERGISE2-0.COM #Socialnomics 2014
  8. 8. ENERGISE2-0.COM What do the following products and companies have in common?
  9. 9. ENERGISE2-0.COM In Common?
  10. 10. ENERGISE2-0.COM In Common?
  11. 11. ENERGISE2-0.COM Digital Dinosaurs All have become (or could become) Digital Dinosaurs due to their failure to adapt to Disruptive Technologies
  12. 12. ENERGISE2-0.COM What Does HMV Stand For?
  13. 13. ENERGISE2-0.COM (HMV) Hopelessly Misplaced Vision
  14. 14. ENERGISE2-0.COM Rearranging Deck Chairs
  15. 15. ENERGISE2-0.COM Who Will Be The Next Dinosaur?
  16. 16. ENERGISE2-0.COM Who Will Be Next?
  17. 17. ENERGISE2-0.COM MOOCs
  18. 18. ENERGISE2-0.COM The Future of Education
  19. 19. ENERGISE2-0.COM Spot the Dinosaur 
  20. 20. ENERGISE2-0.COM The Future of Higher Education 20
  21. 21. ENERGISE2-0.COM ‘Terminal Degrees’ – the Economist ‘If universities were to face the same conditions over the next 10 to 20 years that daily newspapers faced over the last 10 to 20, then revenues would fall by more than half, employment in the industry would drop by nearly 30% and more than 700 institutions would shut their doors.’ (Economist, 2014) 21
  22. 22. ENERGISE2-0.COM We live in an era of Digital Darwinism
  23. 23. ENERGISE2-0.COM Digital Darwinism A further 70% on current list will fail within the next decade 23
  24. 24. ENERGISE2-0.COM So why now…..?
  25. 25. ENERGISE2-0.COM Convergence of Disruptive Technologies
  26. 26. ENERGISE2-0.COM Convergence of Disruptive Technologies Social Media + Mobile + The Cloud + Big Data + Gen C = The End of Business as Usual
  27. 27. ENERGISE2-0.COM The Connected Customer
  28. 28. ENERGISE2-0.COM The Connected Customer is also the Connected Employee
  29. 29. ENERGISE2-0.COM Digital Natives (2005)
  30. 30. ENERGISE2-0.COM The Connected Customer
  31. 31. ENERGISE2-0.COM The Internet of Things 50bn connected devices/products by 2020 31
  32. 32. ENERGISE2-0.COM Implications?
  33. 33. ENERGISE2-0.COM No organisation too big to fail, nor too small to succeed
  34. 34. ENERGISE2-0.COM Do we need to adapt or die? Few industries are immune from the threat of digital disruption
  35. 35. ENERGISE2-0.COM More Examples • Tourism and hospitality – digital has revolutionised the customer journey – Dreaming, Planning, Booking, Experiencing, Sharing; also impact of the collaborative economy Airbnb • Retailing - ‘showrooming’ • Business Services – impact of Free Agent on bookkeeping/ accountancy profession; Hourly Nerd • Construction – Win Sun recently produced 10 basic houses in a day, at an average cost of less than £3,000, using a giant 3D printer and “ink" made from recycled waste • Agriculture – Field Scripts, a Big Data and predictive analytics development based on a database of 50 billion soil observations and 10 trillion weather-simulation points. • Taxis – Uberfy or be Uberfied
  36. 36. ENERGISE2-0.COM Hourly Nerd – founded by MBA graduates 36
  37. 37. ENERGISE2-0.COM Will your industry/company be disrupted? Deloitte Australia, ‘Short fuse, big bang’
  38. 38. ENERGISE2-0.COM Will your industry be disrupted?
  39. 39. ENERGISE2-0.COM Industry Disruption Potential  Short fuse, big bang: Industries with less than three years to adapt and transform themselves or face watching up to 50% of their business perish - finance, retail, professional services, arts and recreation, real estate and media, information and communication technology  Short fuse, small bang: Industries with a lot less to lose in the way of digital disruption, but there is still a limited window in which they can act to mitigate potential damage - construction, wholesale trade and the hospitality industry
  40. 40. ENERGISE2-0.COM Industry Disruption Potential  Long fuse, big bang: Industries that will experience profound change, losing a lot if they don’t metamorphosis. Over time, we will see each area being delivered in fundamentally different ways - transport, government, education and health  Long fuse, small bang: The final category includes manufacturing and mining, which Deloitte says have the least potential for digital technologies
  41. 41. ENERGISE2-0.COM Power shift and the declining effectiveness of traditional approaches to sales and marketing 41
  42. 42. ENERGISE2-0.COM Power Shift Social media empowers customers, empowers the network We no longer control the brand The brand becomes the customer experience of the brand – experiences that are widely shared online
  43. 43. ENERGISE2-0.COM Customers in Control • How relevant is the traditional ‘outbound’ approach to sales, marketing, PR and service in an era where the customer/buyer is in control? • Do we need to move to a new ‘inbound’ approach based on: – Authentic storytelling – Content that adds value to our customers/buyers – Data and analytics – Real time engagement – Creating excellent online customer experiences
  44. 44. ENERGISE2-0.COM Rethinking Marketing & PR • Unlearn marketing – it is no longer ‘about us’ • New ‘mindset’ required • Stop telling people how good we are. Prove it. Spin is dead. • A shift from Outbound Marketing to Inbound/Content Based Marketing
  45. 45. ENERGISE2-0.COM Leading Edge Thinkers 45
  46. 46. ENERGISE2-0.COM Brian Solis - Ultimate Moment of Truth
  47. 47. ENERGISE2-0.COM Reality Check Customers are no longer passive sheep
  48. 48. ENERGISE2-0.COM Apply the principles of Inbound/Content Marketing to your own career development Use social media to establish a position of ‘thought leadership’; differentiate your personal brand – stand out from the crowd 48
  49. 49. ENERGISE2-0.COM Create Music Not Noise
  50. 50. ENERGISE2-0.COM We all face a danger of becoming obsolete? 50
  51. 51. ENERGISE2-0.COM Social Customer Service and Real Time Engagement is the New Marketing 51
  52. 52. ENERGISE2-0.COM Constantly connected customers (especially Digital Natives) require constantly connected Social Customer Service Excellence but few brands deliver
  53. 53. ENERGISE2-0.COM ScotRail and Social Customer Service
  54. 54. ENERGISE2-0.COM Time for us to ‘Shut Up and Listen’ 54
  55. 55. ENERGISE2-0.COM It’s Social A conversation not a broadcast platform Conversations are taking place relevant to your brand – are you listening? 55
  56. 56. ENERGISE2-0.COM Social Media Listening 56
  57. 57. ENERGISE2-0.COM It is no longer just abut Social Media, it is also about Social Business – ‘Enterprise Social’ 57
  58. 58. ENERGISE2-0.COM The times they are a changin' • Current leading-edge thinking is that we are on the verge of another tectonic shift: from Social Media to Social Business • A Social Business is one that develops innovative new work methods and processes by applying social thinking, social strategy, social culture, social organisation and social technologies to everything it does (internally as well as externally). Social across the value chain. • Organisations who ‘get this’ will survive and prosper - those who don’t will become 21st century dinosaurs
  59. 59. ENERGISE2-0.COM Not sure? – then consider the following……..
  60. 60. ENERGISE2-0.COM Productive Time 60
  61. 61. ENERGISE2-0.COM Productivity Busters 61
  62. 62. ENERGISE2-0.COM Global Workforce Survey 2012 62
  63. 63. ENERGISE2-0.COM eMail v. Social
  64. 64. ENERGISE2-0.COM A Better Way to Collaborate
  65. 65. ENERGISE2-0.COM Business Practices that Fail to Die
  66. 66. ENERGISE2-0.COM If we need to adapt or die, do we have the Digital Leaders to drive change? 66
  67. 67. ENERGISE2-0.COM The evidence would suggest NOT…. • ‘The State of Digital Business in 2014’ - only 15 percent of companies have the capability to implement digital strategies (Forrester Research, 2014) • Successful digital business transformation requires the full support of CEOs to drive investment priorities. However, few CEOs fully understand digital • We are facing a Digital Execution Crisis. Missing digital skills are the key hurdle to digital transformation in 77% of the companies surveyed (see also - ‘The Digital Talent Gap: Developing Skills for Today’s Digital Organizations, 2013’ – CapGemini) • Leading US Business Schools such as Harvard, Stanford, MIT and others have responded to the digital business skills shortage by offering Executive Programmes in ‘Driving Digital Change’. The majority of Business Schools in most other countries have been much slower to respond 67
  68. 68. ENERGISE2-0.COM Digital Leaders Urgently Required • A new breed of senior executive is required – Digital Business Leaders • Executives who combine high level business knowledge and experience with the ability to develop Digital Transformation Strategies fully aligned with and supportive of agreed business goals and objectives • Executives with the personal skills and confidence to drive organisational change 68
  69. 69. ENERGISE2-0.COM
  70. 70. ENERGISE2-0.COM Currently Reading
  71. 71. ENERGISE2-0.COM Currently Reading • Is your organization ready for what’s coming? • Between the decline of modern management, the social media shift of power toward individuals, and the ascent of the Millennial generation into leadership roles, companies of all shapes and sizes are facing a future that they are ill-equipped to handle. As a result of this perfect storm of changes, many organizations are struggling to stay relevant to customers, capitalize on opportunities in the marketplace, and attract top talent.
  72. 72. ENERGISE2-0.COM Currently Reading 72
  73. 73. ENERGISE2-0.COM Future Digital Leaders Network
  74. 74. ENERGISE2-0.COM Our Social Footprints @DrJimHamill @VHSocialMedia 74
  75. 75. ENERGISE2-0.COM Energise 2-0 Blog 75