Imagining a Digital Strategy Starting from TRUST
Putting the customer first means they have to trust how you use their data
A post exploring the consumer TRUST and why they matter is linked here. If you’re not sure about the types of consumer trust that exist, please do read that one first.
This post starts out by looking at the strategic options which have dominated management thinking for over 50 years and how they are challenged by platforms and Data; including Big Data. It considers what happens if companies maintain existing strategies and styles, since these dominant forces (strategy and style) have path dependency (as in the economic definition). There is a recognition that the pressure of short term reporting and financial planning, with linear models, leads to a lack of appetite to focus on exponential ideals due to perceived risk but how these current limitations may ultimately lead to decline.
Whilst an obvious solution would be to recreate an organisation, such an overly simplistic view ignores the complexity of the company, the people, its processes and other pressures. Therefore the final part of the paper considers the technology adoption curve and the adoption of many processes which can create agility where required. Amazon is highlighted as an example and how they are creating a new organisation fit for modern markets based on rethinking innovation and processes.
