CEOs blinkered by digital business
May 21, 2014
Speaking at the Accenture/Wired CEO Summit I was amazed by how blinkered business leaders become when they start thinking about e-business. Of course digital technologies are transforming every business, in every sector. Almost every customer experience starts on a mobile phone today. Every product features some form of digital ingredient or support. Every supply chain is reconfigured through digital networks that enable virtual business models and partnerships.
So what is the biggest factor which determines success, one CEO asked. Er … Same as ever … Having the right strategy … and making it happen, effectively. For some reason talk of technology means we become obsessed with platforms and functionality, led in new directions by tech specialists. It all matters. Choosing the right solution, that is most relevant, scalable and best value, is not easy.
But the business leader needs to stay focused on the bigger picture – the right strategy and making it happen effectively. Of course digital networks and innovation extend the possibilities for business, and therefore the choice of markets is much wider, the opportunities to differentiate much richer, and ways to make money more creative. That just increases the need to make the right business choices, before even thinking about the technology. It might not sound cool, but strategic thinking still matters!