AE Team | June 18, 2018
Now that most companies are starting to rethink their business processes with the idea of digitization, a larger question pops up: “Is our strategy still relevant? Can we be successful in the digital economy?
Strategy in the context of digital economy was the topic of the latest installment of Leaders Connect series where Aboitiz executives and team leaders gathered once again on May 23 at the Taguig Corporate Center to hear Professor Philip Parker talk about “Next Generation Strategies for the Aboitiz Group”.
Professor Parker is the INSEAD Chaired Professor of Management Science, author, and the renowned patent holder of a computer algorithm capable of producing books and industry reports on highly niche business topics. He is an acknowledged thought leader in the field of Strategy and Marketing especially in the field of Communications and Technology. He is also an entrepreneur and a pioneer in the field of Artificial Intelligence and Automation.
Most companies recognize the need for a next-generation operating model to drive their business forward in the digital age. But how well they actually develop it makes all the difference between reinventing the business and just trying to do so.
In his talk, Professor Parker outlined a strategic process that can be applied to the Group’s current and future business opportunities to maximize impact. During that night, his sharing opened an avenue on how to raise the awareness of the Aboitiz leadership to advanced strategies that are taught above and beyond the masters in business administration level.
How to profitably deliver services to customers has become a defining challenge for businesses today . . . executives face an increasingly complex landscape of technologies, methodologies, and both regulatory and compliance pressures to ensure that new processes are standardized and traceable.
WATCH THE VIDEO CLIP OF PROF. PARKER’S LEADERS CONNECT TALK
Here are key takeaways on how leaders can shape strategic decisions:
- Create clarity on enterprise strategy and on where digital services can quickly enable sustainable value creation.
- Assess the maturity of the management system using benchmarking against other organizations to identify strengths to build on and risks to mitigate.
- Build top-team excitement and belief in change through visits to leading digital natives or incumbents pursuing their own transformation paths.
- Assess the level of change that the organization can realistically absorb in the near and long term given its other priorities.
- Invest in targeted capability building, especially for the top leaders in the organization. Explore core concepts such as digitization, agile, design thinking, and advanced analytics can create a shared vocabulary and spur action.
- Survey the cross-sector landscape for ideas and inspiration. It’s easier than ever to learn from others, and a rapid inventory of ideas can shed light on potential execution challenges to resolve.
- The operating model of the future combines digital technologies and process-improvement capabilities in an integrated, sequenced way to drastically improve customer journeys and internal processes.
More Aboitiz Leaders Connect stories:
- Q&A with Injap: Getting to know the man behind Mang Inasal’s success
- How AQ and GRIT are key to elevating teams amid challenges