We are going digital and we will
change the way the industry leverages digital ! You know these 20 year old
bright B-school interns ? I am sure these kids who were born with technology know
a lot about how their generation uses the Internet and devices and Internet of
Things and wearables... They will help us take our company into the digital
world. I am commissioning a research study on the industry and what is
happening globally and how our customers are likely to behave. Everyone sighed and nodded their heads to the
ravings of a man possessed.
This CXO had taken on the mantle of leading the digital transformation
of the enterprise; no one had asked him nor did anyone suggest that going
digital was a priority for the enterprise. He was good at spewing buzzwords and
had a basic though carbon dated understanding of IT. His own function and team
tolerated him for his loudmouth tactics that appeared to be getting him
attention of those who mattered. One fine day he pronounced that he was going
to be the Chief Digital Officer and drive the digital journey for the company.
The CMO who was well grounded and grown in the industry over two decades,
heard about it from his team mate who was sitting in on his behalf that day. He
felt amused that a rank outsider who had barely spent a year in the industry
was willing to make tall promises and claims on how the business shall stand
transformed with help of a few college kids ! He asked his team to provide full
support to the CXO and keep him informed of progress. He had a business to run
and numbers to deliver, the company can learn from someone else’s mistakes.
The industry was known to be conservative in adopting technology with no
real pressures on growth or profitability especially in growing economies. The
company had always attempted to stay in front of the game though not always
able to push through the competitive advantage. Globally some early pilots on
digital had early success and some of the larger multi-national companies had
started investing for mature markets. It was too early to predict how digital
will finally shape outcomes for the industry, companies and the consumer.
The CXO flew people around the world, organized videoconferences, and
finally selected a bunch of students from a mid-tier global B-school. The selected
team comprised 5 nationalities was seen as a good mix of perspectives and
cultures. They were excited as the young can be, and looked up to the CXO to
set the agenda for the project. Many meetings later there appeared to be a
structure to what was required and the process to get it; a protégé of the CXO
was entrusted the task of chaperoning the team around their field visits.
The CMO working with the CIO had many projects underway which were
significant components towards the digitalization of the enterprise and connect
with the ecosystem. These were kept as low key affairs to keep news from
spreading and gaining a competitive advantage. The business knew these would
help them get a big boost in the market and supported the CMO/CIO partnership. The
CXO made multiple attempts to get a handle on these unsuccessfully and moved on
to his globally envisioned digital strategy that will transform the industry.
Months passed away with the teams working across borders, engaging with
customers, stakeholders, end consumers, influencers, and everyone who mattered.
The collated volumes of quantitative and qualitative data which was put into
the churner. The CXO took excerpts and published them as brilliance from the
students while crooking a finger at the CMO and how the new strategy will …
Everyone listened and nodded again allowing the CXO to present the findings in
the upcoming meeting. The CMO and CIO remained unfazed and continued to toil.
D-day arrived and everyone was anxious to hear the new vision. Everyone
listened attentively to the young lady who presented the groups findings based
on data and inferences based on interviews globally. The picture that emerged
was not too different from the direction chosen by the CMO and the CIO. The
company was on the right track, they just needed to get some acceleration into
the projects. A sense of relief settled around the room; the CXO changed colors
through the presentation, ran out of the room with phone attached to his ear
which no one remembered ringing !
The new generation will behave differently to stimulus, who better to
validate with ?