Digital, Digitalization and 2.0 - HASSEM PRAG
The common perception that digital and digitalization mean the same thing and do the same things are a total misnomer. Adding 2.0 implies that you have fundamentally changed the rules and have broken the traditional barriers within which you define your business. You are applying first principles to a problem which requires fresh thinking and totally new ways of doing things.
Mo, Hassem, Mohammed, IT, CIO, Fintech, Advisory, Consulting, Leadership, Technology, Tech, IT, ISFAP, Fishing, Word of Work
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DIGITAL, DIGITALIZATION AND 2.0

The common perception that digital and digitalization mean the same thing and do the same things are a total misnomer. Adding 2.0 implies that you have fundamentally changed the rules and have broken the traditional barriers within which you define your business. You are applying first principles to a problem which requires fresh thinking and totally new ways of doing things.

So, let’s start with digital –

– digital makes use of technology to allow you to innovate and deliver business outcomes quicker, reliably and incrementally if needed.

Digital reinvests the organization to provide for excellence and introduces new revenue streams that were not possible before. Digital uses technology to deliver specified business outcomes in the shortest possible time, thereby reinventing through experimentation and failure. When this experimentation fundamentally changes the rules of the game, you have invented 2.0.

So, then what is digitalization –

this is the operational and management of the value chain to ensure customer excellence and that people in the organization understand that to transform, the traditional approach to business cannot be applied.

This requires a mind-shift of proportions to make the business a lot more transparent and agile, but at the same time take people on the journey to understand what it means to operationally run a business that is embracing digitalization.

The common thread is people and technology, which then invents a 2.0 way of working. Leaner, meaner, low cost teams that trust each other to deliver the full value chain of business outcomes, from products and services enabled through technology. This will require traditional ideas to be abandoned whilst still retaining the regulatory, governance and compliancy rules within an organization. This is where digitalization operates within the technology realm of digital. This is where 2.0 is born. You will know this when you see the full business, operational and technology view aligning to create the harmony that is needed to deliver success with unique customer experiences.  There is no hierarchy, no frills, no fuss and success delivered incrementally.

Leadership has to evolve, and great minds evolve with change.

Sometimes that change can be hard to stomach, but change is inevitable. Leaders must embrace a new model and a new way of working yet keeping the regulatory, governance and compliance needed to run large scale businesses. This will create many frustrations if not handled correctly, especially large organizations that have to answer to boards and shareholders.

Our experience and advisory with many thought leaders help organizations transform their understanding and evolve them to truly become 2.0. This is where people are in full harmony with their environment and blossom through leadership that encourages and embraces a new world order through technology.

Digital and Digitalization leads to 2.0

by Jay Prag