Business leaders are not always willing or able to take on the challenge of transforming the existing operating model. They face resistance due to turf wars, internal bureaucracy, legacy working methods, technology debt and corporate politics. In fact, over 31% of business leaders consider resistance to change within their organisation a pivotal barrier to redesigning the operating model.
However, seizing the full power of technology and changing the operating model is becoming more and more critical for the business’s very survival. It goes beyond cutting costs and driving efficiency. It’s about using data and technology as strategic assets to develop speed, agility and resilience, keep up with customer demands, beat the competition and grow the business.
Research
Our research found that 74% of executives need to rethink their existing operating model entirely, and 73% see risk to growth and performance if they don’t. But only 20% of executives see their companies fully leveraging the potential of data and technology in key business areas. Many companies struggle to scale and utilise the most important and transformative technologies across their organisations.
A total enterprise reinvention approach is required. It can include leadership that creates a culture comfortable with experimentation, aligning incentives that reward business and tech partnerships in adopting the change, and adopting consistent strategy and measurement tools across the enterprise.
Fundamentals to set up a new operating model
Companies have an opportunity to set a new performance frontier through Total Enterprise Reinvention and an operating model designed with data and technology at its core. As technological advances upend traditional organisational design trade-offs, they present new possibilities. Whether you are embarking on your transformation journey or looking to accelerate, consider the art of the possible.
The following five fundamentals are crucial to realising the potential and extracting the total value of your data and technology…
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Read the full article by Luis Rodriguez, Managing Director, Strategy and Consulting, Accenture in Africa,as well as a host of other topical management articles written by professionals, consultants and academics in the August/September 2023 edition of BusinessBrief.
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