There’s a reason we call the modern era of sweeping change and uncertainty the Digital Economy – not Digital Technology.
Lots of organisations are realising that they must now ‘re-tread’ their whole business – not just their technology. Mind-set, decision-making, organisational structure, technology, core competency in their workforce – IT change without business change equals no change at all. The tech solutions are there – but what are the business implications?
Not only that – the tensions between the state of the art and the state of the practice, and issues of security versus demands for speed and openness, have never been higher. Operational risk is now outweighing delivery risk. And systems of engagement must be linked to systems of record by systems of insight.
It can be almost impossible to know where to begin, and therefore many businesses do nothing.
At CoDE, our mission is to identify the most efficient and impactful ways to negotiate the new and changing Digital landscape, and help businesses feel their way towards the future.
To this end, we met recently with a large pharmaceutical company here in the Business insights Lab, and ran a workshop that asked – What’s standing between your company and digital business? And how can CoDE help?
At issue: drug efficacy, pharmacoeconomics, and providing solutions that are also attractive to the NHS. Keeping the patient at the centre of the picture, how can the company create a whole ecosystem around the patient that is beneficial to all stakeholders?
CoDE’s approach is to apply Agile techniques, which arose out of software development and are now being applied with great success to product and organisational development. Namely, we ‘experiment’ in business. Is there a need? Is there a market? We experiment in order to figure out what to do, when we don’t know what to do, and avoid the unnervingly-common Type 3 Error – ‘solving the wrong problem precisely.’
The Scientific Method and the ‘experimental mind-set’ are, in fact, an important way to manage organisational change.
CoDE problem-solves in this spirit, in a team, for research, impact and business. We use Open Innovation principles to bring together ‘suits and ponytails’ for some challenging but ultimately fertile and productive conversations.
Digital Transformation does not, after all, mean ‘go faster and save money.’ Instead, it’s about how to handle tech changes from a business implications angle. It’s about new markets, and new business models. It’s about understanding relationships in new ways. And it’s about embedding knowledge and value into execution.
Just like the Digital Economy – it’s tricky, it’s messy, and we wouldn’t have it any other way.
Do you know where your business is going next?