Full Stack Value Creation is what an enterprise needs
A lot of companies today are looking at digital disruption to come and help them create ‘that’ differentiator, which helps them differentiate themselves amongst their competition or create new value for the end customers. But when you talk to business heads or execs they seem to think a piece of software is all it is, and thats exactly what is getting sold to them by the IT behemoths of the world.
But, thats just your innovation budget down the drain.What an organisation needs to create that differentiator is, Full Stack Value Creation.
When I talk about Full Stack value creation, I mean creating that end value for your customers and tying it all the way back to your business process that enable it, it could be digital led or not. But, till the point you are not tying this all together all you are doing is creating a HIPPO (Highest Paid Person’s Opinion) product which does nothing in the end.
Here’s what you need to create value across the business set. You need
Experience Design: To gain empathy about your customers and really understand their needs and gaps in their experience to create meaningful value for them
Data Insights: To gain insights about customer engagement patterns with evidence and to also measure the impact of whatever you are going to create now
Product Thinking: To think holistically about whatever programme you are embarking on, and to bring a discipline to prioritising what gets built
Domain Knowhow: To really understand the ripple effect any of it will have in your business units/departments
Business Process Engineering: To make sure your business processes and business users are ready to deal with whatever resultant changes arise as a by product of your journey
It’s not necessary to outsource all of these skills or conversely, have all of them in house but you have to form a cross functional innovation team with all these disciplines to be able to create sustainable hard value for your customers and give you that differentiator.
