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A journey to steer a company into digital business models and digital marketing initiatives is and will be a board level topic. Executive leaders and boards play a key role in defining the direction. Many industries led by digital immigrants need support to add the right competence at board level.
As many industries are adopting “Smart” strategies and focus on “Mobile first” this is well underway isn’t? You might want to be suspicious when you read and reflect of the following two data points published in Wharton @ Work in 2014:
- Fewer than 10% of S&P 500 companies have integrated Digital into their Business model.
- Only 9 companies in S&P500 are digital
The introduction of Cloud, Analytics, Social and Mobile on a broad scale change business logics. Experiences from technology sector is now penetrating into a large variety of sectors. The Executives face a situation where they need to mentor employees into new areas. New Areas where Executives have not gained own experiences as a base for their mentoring. This is a significant hurdle in crossing the CASM chasm.
You might consider positioning your insights on one or several of the following topics to your board
- An outside in perspective on the nature of the CASM for your industry in two dimensions. Disruptive digital business models with potential to challenge your current business model. New digital marketing paradigms you need to consider.
- The balance between your current core and your future digital business in your business plan.
- Your readiness to adopt digital business models and marketing paradigms. As seen from a human capital perspective in your own organization
A Final reading collection as part of this digital mentoring program:
- Crossing the chasm [eBOOK] – By Geoffrey Moore, 3Rd edition
- Getting on Board: Why crossing the CASM is key to minimize risk [ARTICLE] – by Wharton
- Do you have the digital leaders you need [ARTICLE] – by Harvard Business Review
If you have come to this point you have invested a lot of time in pursuing these ideas. You have pursued multiple personal development initiatives with a strong personal commitment to make sure you are one of the best leaders in your company, ready to deal with the digital disruptions you have ahead of you. The perhaps biggest reward you have gained is that you are in shape to lead your team through this transformation. Without you as a leader having the basic skills and insights your contribution would be on a far lower level.