The pace of the world before the outbreak of the Corona virus was actually fast, but now it seems that the luxury of this death has completely disappeared. As businesses that have defined their digital strategy once in stages from one year to three years or even five years, it has become imperative to expand the scope of their initiatives for only a few days or weeks in the current era.
A European survey showed that about 70% of executives in Austria, Germany and Switzerland indicated that the COVID-19 pandemic is likely to increase the pace of their digital transformation, which shows the speed across sectors and different geographical regions. Also, in the case of banks in many countries of the world, it can be seen how quickly they abandon the physical channels; Also, health care providers have moved quickly to provide the use of telehealth services; In addition, the various insurance companies took into account the assessment of self-service requirements, and retailers market their goods through remote supply channels.
Thus, the crisis of the outbreak of the Covid-19 virus has come to provide a surprising glimpse into the world of the future in a virtual way from a distance, in which digital has become central to all interactions, forcing both individuals and organizations to adopt the digital technology approach almost quickly. This has led to the world becoming inclusive of digital channels that represent the extent of the main customer participation model with automated processes that have become the main driver of productivity and the basis of flexible supply chains, culture, etc. All of this prompted the contemporary world to confront the changes that seem to have occurred in the behaviors of human beings from customers and workers in their transactions and interactions, and even in their ordinary lives in which quality calls for improvisation and experimentation stemming from customers, markets, regulators and organizations. In this unique situation, companies are able to learn and advance more quickly than they were before. Also, the ways in which they learn while adjusting the risks of the current reality have become deeply affecting performance in an ever-changing world, which presents the opportunity to maintain greater agility, in addition to the close association of these companies with customers, employees, and suppliers who are considered capable of Success. This is likely to make the gains stable during the recovery period and beyond.
With this in mind, it is now time to re-evaluate the digital initiative that provides the assistance needed by employees, customers, corporate boards and bodies where businesses are increasingly responsible and fit for a post-crisis and risky world. In this world, some things will return to stability as it was previously the case, while others will change to adapt to the new conditions that perform safely and intelligibly.
Crises require boldness and learning.
Every organization, company or institution knows how to implement new digital initiatives in normal times, but very few of them may operate in a clear scale and at a speed that is suddenly required due to the sweeping plight of COVID-19. However, at the present time, due to customer sanctions and the available market, testing and broad learning has spread in a clear and very high way, and regulatory obstacles have become another step as well, and require immediate returns that accrue to the corporate beneficiaries. In this context, finance departments hold tight contracts for individuals in need to move new initiatives forward quickly. Customers are often slow to adapt to new ways of doing things, with traditional application curves reflecting this inherent inertia. In addition, the organizational culture with deeply numbed silos prevents and hinders agility and cooperation in the applications in which they exist. As a result, many companies are experimenting with a frequency that often fails to match the rate of change around them, reducing their ability to learn fast enough to keep pace with these changes. In addition, organizations rarely embrace the dimensions of needed bold action in order to move quickly in launching the initiatives needed to expand the scope of success, even if the bold movement is applied to adapt digital technologies that are associated with the allocation of integration and acquisition that leads to the creation of knowledge on a large scale and at an early date.
Since the Covid-19 pandemic has forced scientists, workers and supply chains to use digital channels and new ways of working, this has now become the time to ask what are the bold digital actions that lead to hesitation in continuous follow-up, even if it is known that they will eventually require. It is a moment of risk, just in time to boldly advance toward the demanding digital agenda.
Empowerment in daring towards the mechanism:
What does it mean to act boldly? In this context, it is possible to propose a number of areas of implementation, each of which goes beyond the application of mere digital articulation and the trend of creating new digital displays, and the dissemination of design thinking and technologies such as artificial intelligence on a large scale across the business while performing all of this in rapid steps through acquisitions. Thus, it is possible to strive to provide individuals with access to what already exists in many countries.
§ New offers:
For example, and even in the short term, most organizations are looking for hypothetical transformations of their previous natural offerings, or at least new ways to make them accessible within minimal natural contact. Successful new offerings often involve new partnerships or digital markets in which companies connected to new platforms have not participated, are in their ability to seek opportunities to transcend areas of the organization while gaining visibility into sites that can be invested with confidentiality, valuable time and money available to secure the best results, in addition to Thinking in the guarantor design The use of systematic thinking and intuition to address complex problems and discover essential and ideal reception cases. The central design approach or approach focuses first and foremost on its users
N or other customers, but in order to help define and act on the true meaning of how suppliers, partners in the forces, and beneficiaries as well, as well as how the ecosystem that includes all that development takes place in the normal situation, the emerging future after it vanishes immediately.
Re-inventing the core of the business model:
Bypassing safe zones requires taking into account an end-to-end view of existing businesses and operating models, even with necessarily limited resources. The experience of the leading companies is currently focused on areas that are more and more connected to the business hub, which will give the best chance of success in both the short and long term, rather than making minor improvements to the non-core areas. Organizations that make small changes to the edges of their business growth almost always fall short of their goal. As tinkering leads to a return on investment less than the cost of capital and for changes and learning that are too few to match the pace of external disturbance in general. Organizations apply artificial intelligence tools and algorithms, in addition to design thinking and use all of this to reinterpret existing business in order to outperform their peers from other organizations. This is considered when dealing with companies that contain large amounts of data in a real, fast-developing perspective, looking to make it fast with a close and accurate link compared to other companies that are increasingly in the field.
While the results branch out to a large extent with the industrial sector, some common themes emerge across sectors that suggest changes in cost structures and operating models to move forward.
§ Transparency and flexibility of the supply chain.
The prices of wholesalers around the world determine the suffering of running out of necessary stocks during a crisis. It is also clear that wholesalers require full supply chain transparency before going through a crisis, which uses algorithms to detect changes in purchasing patterns to do better during a crisis. They can learn from their wholesale counterparts to build the transparency and resilience needed to avoid future supply chain disruptions. In this case, security has become a popular topic in the daily news, whether it is the security of people themselves, or the security related to goods, services and data. This has required thinking to successfully navigate its rapid scope of use, but this is also a front for security changes that need to be addressed quickly. Many of the existing organizations suffer to some extent similar harmful lessons during the particular time of crisis that may befall them.
§ Strong remote work and mechanism:
There is currently a widespread desire to build on the flexibility and complexity brought by telecommuting. Also, learning how to maintain productivity, especially when returning to work in the office, after the end of the closure due to going through a crisis, or even when companies continue their critical activities mechanism to capture most of the value from real-world experiences that occur in reality. In wholesale trade, for example, there is a widespread use of robots in warehouses that deal with the tasks of large transactions such as checking the inventory of goods in the aisles of the warehouse and the realization of purchase orders remotely. These investments will not be undone after the crisis. Thus, many dealers who did this find themselves in the unique cost structure during the boom period.
Boldly develop a business portfolio:
No company can accelerate the supply of all its strategic necessities without looking to the production and acquisition process in order to accelerate its growth along the way. Mergers and acquisitions can help companies acquire talent and build capabilities even as it offers access to new products, services and solutions to parts of the market and new customers.
Currently, we know from the many researches that have become widely available on economic downturns, that companies that invest when their valuations are performing poorly are those that do not. These companies do a disparate, underperforming business an estimated 10% faster than their peers early in a crisis (or sometimes in anticipation of a crisis). Then the main leadership that companies face in their digital transformations is the need to equip themselves with talent and capabilities during acquisitions of technology companies, which are usually valued at capital market multiples that are considered diluted, which justifies the direct time of the user and the buyer. This is especially the case with free companies temporarily when it is expected to replace expectations of profits that separate that. As the low valuations, along with the crisis and its direct consequences, prove that the time is right to pick up assets that were previously elusive.
Learning in the pace of a crisis:
Moving boldly does not mean moving without thinking in any case. Also, the ability to learn in light of the crisis in real time is in fact one component that can be a turbocharger for the ability to expand learning at an infinite speed. And that the search for a new rhythm in situations of extreme uncertainty requires leadership to learn quickly about what does and does not work and why? This requires quickly identifying and learning unknown elements as they arise. With the advent of the crisis, the leading companies increase their learning cadence as part of their expanding organizational representation. Also, companies can see themselves when they work to implement change more quickly during the time of crisis and its aftermath. Thus, these companies strive to provide individuals who are disadvantaged by equal automated access to websites that actually provide learning.
In this context, several governance areas that lead to overlapping companies can help to learn more quickly during and after a crisis. Among these main areas are the following:
1) Accelerate the review of data: start by assessing the frequency with what is reviewed from the available data. Therefore, it must be reviewed
Multiple sources per week or more frequent to assess the transformation needs of customers and business partners, in addition to current performance. Looking at the particular crisis nerve center for almost reliable emerging data about employees, customers, partners, supply chains and the ecosystems in which the organization participates, it is then possible to switch to secure file technology to share and discuss remote visions through a faster data review pace.
2) Focus on advanced technology: The sudden shift to virtual processes and interactions inside and outside the organization also provides an opportunity to increase the pace of learning about the application of technologies initiated by the organization for experimentation according to the standards of experimentation as well as learning. Also, the rapid transition to digital enables the discovery of potential hotspots with the current organization's technologies package, giving a prior preview of the quality of the technology's position for the possibility of forward performance, and applying new technology with a high level of confidentiality.
3) Data Security: It determines the dimensions of exposure to violations when moving to work and sharing data remotely.
4) Scalability: It is determined by a large percentage of up to 100%, so that it determines where the breaks and clashes are located through interactions with customers, employees, and virtual business partners?
5) Ease of use: Both customers and the right business partners now have little opportunities to access products or services through digital offerings compatible with their choice of often well-available offerings. And when usability is low, it is possible to experiment to improve it, while still including a captive audience for the organization and its partners, and to learn from them.
6) Testing and Learning: Often, changing business models to which customers, employees or business partners are accustomed can appear to risk driving them away, even when such experiments make the goal of long-term gains for all involved. The current COVID-19 crisis has made experimentation necessary and expected anyway. Accordingly, it has become possible to start customer-facing initiatives that may be prepared from another larger side, with the use of the mechanism and predictive analytics to isolate difficulties quickly and effectively. This leads to the search for opportunities to standardize and standardize what has been learned in order to support the scalability of digital solutions across the business process hub. That is, standardization helps increase projects and initiatives by reducing confusion and creating common tools that enable use by large groups of people.
Learning while enabling scaling and scaling:
As companies increase their rate of learning, they need to quickly translate what has already been learned into widely published responses. Note that limiting what has been learned is always a hindrance to the hoped-for digital transformation. There are many studies and researches already completed regarding both the expansion of the scope of the analyses, the quality or creativity and their effects on the speed of the scale. The following presentation sheds light on the essential role that learning plays in the ability to scale digital initiatives:
Undertaking new digital initiatives:
While companies often take on new digital initiatives, with the intent of learning from them before they are rolled out on a large scale, in normal times these experiments only test one dimension at a time such as incident performance rates, inclusion, customer satisfaction, one particular unit of economics, or Experience using a digital solution. Whether they want to or not, companies find themselves engaged in a different kind of experimentation, which may be digital software on a large scale; The rapid shift to the wide spread of types of digitization processes and digital interfaces that come with many challenges, for example, building laptops for each of the workers in order to help them 100% to work remotely compared to about 10% of those who used to work remotely only In the short term in the past. But it may also lead to symptom-level opportunities that include the potential to learn in real time where value is going in, for example, markets and industry. The opportunity for learning and feedback quickly leads to work in the operations, the required organizational approach, as well as the opportunity to learn when and where the organization will be able to move quickly to indicate where the buyer needs to buy an existing business rather than build it from scratch.
§ Note the interaction effects:
Expansion requires changing parts of the multiple business model quickly or changing the customer journey at the same time, but the time or customer journey in which traditional channels are limited, and all becomes in the context of the same time, or now is the time to notice the effects of interaction between multiple variables. For example, health care providers are facing an increased demand for services that include mental health and other symptoms other than the COVID-19 pandemic. At the same time, traditional channels are somewhat limited in the context of well-defined privacy laws, causing many providers to quickly test and implement health care protocols that are often not available in many medical offices before, and navigate privacy compliance, as well as patient acceptance. It can be treated remotely, while at the same time new applications can be deployed to speed up and increase the treatment of digital medical patients.
Similarly, when a retailer within a week releases a new nationwide application for same-day delivery, its tests are more than one variable at the same time, such as the withdrawal of that good channel, and because of the scope it is possible to learn about differences in application and profitability by region and form of stock available . It can also be tested if technology partners are able to live across a thousand stores, and it can also be tested if the supplier base applies the distribution to trade.
l new model or not. Also, the transformation of multiple variables at the same time faces a degree of difficulty when this is related to the interpretation of the results obtained because of not isolating a variable at the same time. And companies that have already invested in employing the capabilities of artificial intelligence will experience substantial advantages as a result of this successful recruitment. In addition, the current investments will continue to perform after the crisis has passed.
§ Simplification and focus:
Given the degree of complexity created by extensive experimentation, organizations need to find new ways to simplify and focus in order to avoid becoming overburdened. After that, many natural distribution channels may arise for it, and make others unreachable after the crisis is over. So it requires more simplification to extend the lines of what works and what does not work and why? Perhaps this represents a global crisis in which companies are in a position to collect and evaluate data on their customers in real time, and determine what they are doing or trying to do during the short time. In addition, identifying the dimensions of education activities that are no longer applicable, while fixing problems that arise with aggressively presented offers, which will help increase the opportunity for many customers to participate in the low cost of digital forces over time.
§ Learning through group participation:
It is also clear from the currently available studies, that people and organizations learn more quickly as a result of the influences of the Internet, people and organizations or organizations adding to the joint solution space. In other words, learning occurs more quickly, and performance also improves faster. Some argue that lattice effects occur in the so-called cooperation curve. At a time of crisis, changing needs prompts rapid changes that may be entrenched in the mentalities and behaviors of workers, which represents a greater desire to try to search for new things. Thus, it can be considered how to support the learning methods of talented workers better than what is currently available.. One of the options for building or taking advantage of talent markets is to quickly reallocate workers' resources when priorities and orientations shift, in addition to helping talented workers increase their learning rate. Thus, it can be made sure not to look at the boundaries of the company, but across the facilities to include the network participants, sellers and suppliers as well. And they will likely be more willing than ever to collaborate, share data, and learn to ensure the collective survival of all.
Often this is the case in human affairs, from which the greatest lessons emerge in the most devastating times of calamity. It can also be believed that companies that can be brought in simultaneously and raised above the demands of responding to the critical crisis daily can gain unique visions and insights to tell more powerfully and get out of the Covid-19 pandemic that the world is currently going through, as well as facing the crises that the future brings.