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Digital Darwinism: How To Avoid Becoming a Digital Dinosaur


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Slides for the Mini Masterclass, University of Edinburgh Business School, Executive MBA Open Evening, 1st December, 2015 -

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Digital Darwinism: How To Avoid Becoming a Digital Dinosaur

  1. 1. Digital Darwinism: How to Avoid Becoming a Digital Dinosaur Dr Jim Hamill @DrJimHamill
  2. 2. Future Digital Leaders 2
  3. 3. Energise 2-0 Blog - 3
  4. 4. 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  4
  5. 5. Questions 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 5
  6. 6. A Conversation A two-way conversation not a one-way broadcast As a consequence of digital technology, our average attention span is 7 seconds. Less than that of a goldfish 6
  7. 7. Core Theme We live in an era of Digital Disruption and Digital Darwinism
  8. 8. Core Theme The digital and social media revolutions are disrupting a wide range of industries, transforming existing ways of doing things and existing business models Many organisations have become, or are in the process of becoming, ‘digital dinosaurs’ due to their inability to adapt The changes seen already are nothing compared to what is coming over the next few years. Over 40% of jobs could be replaced by digital technology over the next two decades 8
  9. 9. Some Quotes We are in the early stages of an era of great technological change. Digital innovations are remaking our industries, economy, and society just as steam, electricity, and internal combustion did before them MIT Technology Review, June, 2015 Digital disruption has the potential to overturn incumbents and reshape markets faster than perhaps any force in history………. an average of roughly four of today’s top 10 incumbents (in terms of market share) in each industry will be displaced by digital disruption in the next five years. Despite these dire ramifications, only 25 percent describe their approach to digital disruption as proactive—willing to disrupt themselves in order to compete Digital Vortex: How Digital Disruption Is Redefining Industries (IMD/Cisco 2015) 9
  10. 10. Some Quotes Digital disruptors are tearing up the rule books, and no industry is immune. In response, firms must take a different approach to digital strategy, embedding digital capabilities into the heart of their business, rather than treating digital touch-points as peripheral add-ons The Digital Maturity Model, Forrester Research (2014) 10
  11. 11. Core Theme As organisations, we need to transform digitally - using digital technologies to rethink and improve the way we do things in at least three main areas: ‘Externally’ - marketing, PR, customer engagement, customer service ‘Internally’ - the way we communicate with colleagues and partners; our business processes and systems; becoming an agile, flexible, fast moving ‘social organisation’ Digitally transform our core business models 11
  12. 12. The Reverse Strategy Framework 12
  13. 13. As Individuals, We Need To Transform A new breed of senior executive is required
  14. 14. Core Theme While there is a growing recognition of the need for digital change, a major digital skills shortage exists Capgemini Consulting/MIT Center for Digital Business - missing digital skills were the key hurdle to digital transformation in 77% of the companies surveyed, (‘The Digital Talent Gap: Developing Skills for Today’s Digital Organizations, 2013’) Forrester Research (2014) highlighted a ‘digital execution crisis’. Successful digital business transformation requires the full support of CEOs to drive investment priorities but few CEOs fully understand digital. ‘Many executives report that their firms are woefully unprepared to deal with the digital onslaught’ Similar findings have been reported in other studies 14
  15. 15. Core Theme Date Course name 15
  16. 16. Digital Leadership Date Course name 16
  17. 17. Digital Leaders Combine high level business knowledge, experience and understanding with the ability to develop digital transformation strategies fully aligned with and supportive of agreed business goals and objectives The confidence and personal skills to drive organisational change Are you ready to become a Digital Leader?
  18. 18. Carpe Diem 18
  19. 19. Readings Date Course name 19
  20. 20. Overview In one sentence …….. Staying relevant in a digital/social world 20
  21. 21. 'Adapt or Die'… Brian Solis 21
  22. 22. Two Key Issues Digital Disruption: the Digital and Social Media Revolutions Digital and your career development – building your personal brand online - some practical tools and software 22
  23. 23. The Digital and Social Media Revolutions 23
  24. 24. In Pictures/Video Date Course name 24
  25. 25. Digital Natives By 2025, Digital Natives will account for 70% of the global workforce and they will be shooting dinosaurs 25
  26. 26. What is a magazine? Date Course name 26
  27. 27. #Socialnomics 2014
  28. 28. Business Model Innovation 28
  29. 29. Disruption How many industries has this company/product disrupted? 29
  30. 30. Recognise this? Date Course name 30
  31. 31. This? Date Course name 31
  32. 32. Now This…….. Date Course name 32
  33. 33. This? Date Course name 33
  34. 34. This? Date Course name 34
  35. 35. This? Date Course name 35
  36. 36. This? Date Course name 36
  37. 37. Will you be disrupted? Date Course name 37
  38. 38. Should you transform ? Date Course name 38
  39. 39. Most affected………. Date Course name 39
  40. 40. No industry is immune…. Date Course name 40
  41. 41. The robots are coming Date Course name 41
  42. 42. Digital Disruption Report Date Course name 42
  43. 43. What do the following products and companies have in common?
  44. 44. In Common?
  45. 45. In Common?
  46. 46. Digital Dinosaurs All have become (or could become) Digital Dinosaurs due to their failure to adapt to Disruptive Technologies
  47. 47. What Does HMV Stand For?
  48. 48. (HMV) Hopelessly Misplaced Vision
  49. 49. Rearranging Deck Chairs
  50. 50. ScotRail and Social Customer Service
  51. 51. The WOW Factor When Done Right In Real Time (Sunday Morning) seabass • @boochap The scotrail website keeps crashing help I need to know my train times ScotRail • @ScotRail @boochap Morning, where are you travelling from/to please and roughly what sor t of time do you want to travel? seabass • @boochap @ScotRail scoutstounhill to Glasgow central, some time between 10 and 11am tod ay. Thank you! :) ScotRail • @ScotRail @boochap Morning, from Scotstounhill at 10:11 or 10:41 this morning. :) seabass • @boochap @ScotRail oh my gosh, thank you so much! Have a lovely morning x 51
  52. 52. What Happens When Things Go Wrong 52
  53. 53. Who Will Be The Next Dinosaur?
  54. 54. 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 Branch banking
  55. 55. Hourly Nerd – founded by MBA graduates 55
  56. 56. The Digital Vortex 56 Four out of ten industry incumbents will be disrupted within the next five years
  57. 57. The Digital Vortex 57
  58. 58. Will your industry/company be disrupted? Deloitte Australia, ‘Short fuse, big bang’
  59. 59. Will your industry be disrupted?
  60. 60. So why now…..?
  61. 61. Convergence of Disruptive Technologies
  62. 62. Convergence of Disruptive Technologies Social Media + Mobile + The Cloud + Big Data + Gen C = The End of Business as Usual
  63. 63. The Connected Customer
  64. 64. The Connected Employee The Connected Customer is also the Connected Employee
  65. 65. Business Practices that Fail to Die
  66. 66. A Better Way to Collaborate
  67. 67. Enterprise Social Tools 67
  68. 68. A Better Way to Collaborate 68
  69. 69. We ain’t seen nothing yet….
  70. 70. The Internet of Things 50bn to 75bn connected devices/products by 2020 70
  71. 71. Towards the future…. Date Course name 71
  72. 72. If we need to adapt or die, do we have the Digital Leaders to drive change? The evidence would suggest NOT! 72
  73. 73. Some practical advice Date Course name 73
  74. 74. A new approach to career development Build your personal brand online/ build your Digital Footprint
  75. 75. Inbound/Content Marketing Apply the principles of Inbound/Content Marketing to your own personal brand Date Course name 75
  76. 76. Some useful Social Media Management Tools 76
  77. 77. Social Media Management Tools Feedly - for Social Media Listening Buffer - for scheduling posts Hootsuite - for managing channels Wordpress - for blogging Mention - for brand sentiment analysis Social Report - for performance measurement Yammer - for internal social business Conversocial - for Social Customer Service
  78. 78. Bob Dylan (Mashed Up ) Come gather 'round people Wherever you roam And don’t criticise What you can't understand Your sons and your daughters Are beyond your command Your old road is Rapidly agin‘ Then you better start swimmin’ Or you'll sink like a stone For the times they are a-changin’