Digitalization - Management Actions - #1

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Management Advice - Digitalization #1

Managing a company in the digital transition process is difficult and I have some thoughts about it.

I support the following idea in the process of digitalization and the rise of Artificial Intelligence:

Each company, founded before digitalization (2015), should explore the fields of digitalization and AI radically in their strategies as fast as possible!

This concerns the macro level of a company!

New units should be created!

Digitalization (New Business, Marketing)

Artificial Intelligence (Data Mining, Automatisation, IoT)

The old units and their business models should be kept running and be ready for slow shutdown.

In my point of view, there are two possible paths:

a) try to build digitalization & AI knowhow in every department.

b) build a strong, centralized digitalization & AI unit separately and transfer the knowledge and workforce into the new unit (as far as possible).

I recommend the centralization of these digitalization units and bring them close to the management to be able to test new methods and ideas fast. 

Stagnation will not be a solution at all!

Transforming old business models into a digital world

I do not recommend to try to transfer old service- and product models into the digital age. I argue, you better should build the services and products from scratch in parallel on a modern foundation.

Learn it the practical way!
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