The need to move with speed has had a profound
impact on today’s workers, who require flexible
tools that let them communicate in new ways.
My firm, ZK Research, defines digital transformation as the application of technology to build new operating models or processes by leveraging the convergence of people, business, and things. Digital advancements are creating new product and services opportunities as well as transforming business operations, enabling organizations to generate more revenue, lower costs, and achieve higher levels of efficiency to gain advantages over competitors.
Historically, competitive advantage derived from having the best product, the lowest prices, or the best people. This is no longer the case.
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change,” as noted in a famous quote summarizing Charles Darwin’s 1859 book, “The Origin of Species.” Never has this statement been truer for business. To survive, companies must be willing — and able — to change fast. In the digital era, leadership comes from a company’s ability to recognize shifts in the market landscape and adapt quickly.