Digital Transformation is Turning the Business World on it's Head

Welcome to the Future of Business

The ability to digitally reimagine your business is determined in large part by a clear digital strategy supported by leaders who foster a culture able to change and invent the new. While these insights are consistent with prior technology evolutions, what is unique to digital transformation is that risk taking is becoming a cultural norm as more digitally advanced companies seek new levels of competitive advantage. And this competitive advantage is thinking outside the box when it comes to the traditional “top-down” structure of an organization.

In a recently published article entitled, “Digital Transformation and the Upside-Down Organization,” author and expert, Daniel Newman, writes:

“Gone are the days when a company’s C-suite monopolizes decision-making. The traditional organization of a business—the C-suite at the top, employees executing their commands, and consumers accepting what decision-makers crank out—has been turned upside-down thanks to digital transformation. Now, the consumer is in the top position. Welcome to the future of business.”

To thrive in a market where the consumer holds the power, you must have a firm grasp on what the consumer wants. This entails crowdsourcing ideas from your customers and your employees.

“The modern business is only as strong as its following—something that is harder and harder to maintain. Success no longer stems from the brilliance of a few team members in the top tier, but from how well your company can listen to the bottom half of the equation. Thus, enterprise organization has been flipped on its head,” Newman writes.

Equally important, employees across all age groups want to work for businesses that are deeply committed to digital progress. Company leaders need to bear this in mind in order to attract and retain the best talent, and talent that is emancipated from the shackles of the old business world.

“Today, the C-suite needs to focus more on executing the new bottom-up strategy to facilitate success. Resisting this change is futile—it’s already here, and the most successful companies have embraced it,” he writes.

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