You press the button, we do the rest. Those were the words of Kodak‘s first promotion motto. Coined by George Eastman, Kodak‘s famous founder in 1892, this tagline nearly seems relevant 126 years later. Almost. There has been a time in history where uttering these words evoked a psychological sense of nostalgia. Now, regrettably, the Kodak moment signifies that minute when executives don’t realize how consumers are shifting and how markets finally will evolve into new directions. The Kodak moment is some thing that executives in Blockbuster, Borders, RIM, etc, know all too well. Digital Transformation is one of the most crucial movements in latest business history.
Digital transformation, I’ve learned in years of research in Altimeter, is already helping leading businesses increase earnings, compete with new markets, scale, enhance employee and client associations, one of a whole list of other benefits. However, with all these rewards, investing in electronic functionality, capacity and relevance is simply mastered by an elite group of businesses today. If digital transformation is your Holy Grail of organization, then why isn’t everyone on board? The solution is surprisingly human. It turns out that there are various reasons.
First, it boils down to change and most of us know change is emotionally and emotionally daunting. Second of all, the feeling of urgency to change is mainly under appreciated or honestly nonexistent among several lucrative businesses. In any case, the bitter and surprising potential that looms ahead for complacent or apathetic managers personally and strategists is sure. Arrogance and ignorance begets irrelevance. Digital is a way of life personally and it really is not going to regress. Digital isn’t limited to age personally and every day, it unites people across generations, interests, personally and aspirations. Most significantly, digital changes behavior, personal preferences, anticipation, and it’s inevitable. There are digital applications which have stolen the words of kotak legally. Applications like snapchat are taking the share of it. Consumers now care more about the software than the hardware. Gone are the days when people looked after the brand of their camera. Everyone knows iPhone has the best camera. But who built this camera? No one knows this. That is how snapchat is not the kingpin of this game. People care more about it’s software effects and filters. People pay to use flockpost for their social benefit. The camera is not worth like what it was back then. People are interested in hacking snapchat software for various purposes including viewing hidden photos.
I think that urgency is delivered upon one of two platters. Either businesses see an opportunity to turn into a pro-active moment which leads to what if and what’s next or as a reactive situation in which uh oh suggests an answer of why didn’t we or we might have done something had we known. The latter is what I refer to as your new Kodak second. Digital transformation is in full stride, some thing which eventually contours or re-contours an enterprise personally and its ecosystem to better compete for the potential right now. The intriguing thing about electronic transformation however is that at its core, its promise is driven less by technology or alter for the sake of alter.
In addition, the answers inspire transformation that not simply pave the way toward competitive advantages, but additionally relevance similar to what the you and I recall as your true meaning of your Kodak second.the moment when you are reminded that someone or some thing matters to you personally and equally, you to them.