The digital workplace vision should articulate two ideas: the value proposition of the enterprise as it transforms traditional models into a digital business, and the importance of a strong digital workplace in achieving an organizationâ€™s goals in the digital economy.
2. Digital workplace strategy: write a comprehensive road map
The workplace strategy should set clear priorities and serve as a blueprint for the roles and relationships of each departmen
3.Workplace employee engagement: encourage a corporate culture of autonomy, accountability and empowerment
This is a mainstay of the digital workplace initiative because the new ways of working require behavioral changes as employees collaborate, take on challenges and provide local leadership to redesign the workplace
4. Digital workplace organizational change: this changes everything
As they mature, digital workplace initiatives will necessitate considerable changes in internal processes, departmental structures, incentives, skills, culture and behaviors. Ultimately, every system and role will be affected. A far-sighted strategy includes:
5. Digital workplace processes: how to be the right kind of enabler
Building a successful digital workplace demands a fresh approach to business processes and removing the activities that get in the way of solving business challenges.
6.Digital workplace information: on demand and on target
Workers expect their enterprise tools to mimic the sources and applications they use every day â€“ from Google Now to Apple Siri â€“ data must be accessible and useful. Exploit consumer information trends including:
7.Digital workplace metrics: measurement as a tool for change and evaluation
All initiatives should be designed to have a positive impact on a business-value metric, such as workforce effectiveness, employee agility, employee satisfaction and other organization-specific goals.
8.Digital workplace technology: get smart
The four factors in the Nexus of Forces â€“ mobile, social, cloud and information â€“ converge and reinforce the digital workplace and support the creation of a digital workgrid.
The best digital strategies donâ€™t rely on past analyses, but instead start fresh and carve out a vision based on where they believe value is likely to shift over the next three to five years
Our research shows that organizations able to understand and skillfully act on complete customer journeys can reap enormous rewards: increasing customer satisfaction by up to 20 percent and revenue growth by 10 to 15 percent, and lowering the cost to serve by 15 to 20 percent
Over time, cost performance can improve by as much as 90 percent as the automation effort scales across formerly siloed functions, reducing redundant processes. New business models, in fact, are emerging as companies that create revenue from sales of physical assets evolve into service businesses that focus on data as an asset.
The challenge is to move toward a structure that is agile, flexible, and increasingly collaborative while keeping the rest of the business running smoothly. Successful incumbents become agile by simplifying
Yet todayâ€™s fluid marketplace requires technology that can drive innovation, automation, and personalization much more quickly
Companies that make extensive use of customer analytics see a 126 percent profit improvement over competitors.1414.Alec Bokman, Lars Fiedler, Jesko Perrey, and Andrew Pickersgill, “Five facts: How customer analytics boosts corporate performance,” July 2014, McKinsey on Marketing & Sales, mckinseyonmarketingand sales.com. Companies that see that kind of return are adept at deciding which data to use (both inside and outside the organization), focusing the analytics on delivering on goals with clear and useful insights, and having the right capabilities and processes in place act on them.
“Coase argued that a firm exists when Transaction Costs make it cheaper to operate a business as a managed entity rather than have to buy from/write a multitude of contracts with mutiple suppliers for every little thing.”
The rising Blue line shows the increasing Transaction Cost as the transaction becomes more complex from left to right.
Coase argued that the Firm will want to do all the work internally where the Green line is below the Blue, as this costs less. As expected it tends to be the more complex transaction that the Firm will take internaly.
It also became easier in some industries to contract for someone to arrive at work every day, on a one-off employment contract, rather than negotiate with work gangs every day, so workers were hired on long term employment contracts
In essence, the argument is that technology is dropping transaction costs outside the Firm faster than within it, and thus the structure will shift from Firms as intermediaries between customers & suppliers- ie the green line will move to the right, and work will move to a multiplicity of suppliers and contractors in networks, delivering services at lower transaction costs.
If those In-Firm transaction costs also go down, using the same sorts of technology, then there will not be a great shift to â€œexchanging values in the society at largeâ€.
the WTF essay assumes they will be set in these newfangled Internet networks and called â€œPlaftformsâ€. However, if you look at the example given in the essay as a harbinger of the new â€“ Uber â€“ it is clearly just another Firm, using tâ€™Internet rather than tâ€™Phone
All that â€œsociety at largeâ€ is doing is supplying or ordering a taxi ride and paying for it at the edge if the network, as it did before, just that now its by App transactions rather than â€˜phone or hail ones.
A new Firm has used newer technology to reduce the transaction costs in a well worn existing business model (order taxi â€“ route taxi â€“ pay taxi) and is now using good old fashioned In-Firm competitive advantage to take market share from existing Firms with higher transaction costs. Uber only needs a â€œvery different kind of managementâ€ insofar as it is managing more machines, less people in its workflow. Itâ€™s network is a good old heirarchical network, just more automated.
However, the corollary is that if a Firm improves its internal transaction costs at a faster rate than than the outside markets, it actually becomes more efficient and thus can bring more functions inside itself
I would argue that this â€œUber for Everythingâ€ world is currently not going to evolve to any form of new non-intermediary economic entity, or some form of value sharing network.
these UberFirms would not have â€œUnicornâ€ valuations if the surplus in the value chain was going to be spread across a host of other small players in a network,
its all about market growth, using investment money to undercut incumbents to gain mass market share fast, and increasingly to lobby
However, there is already starting to be pushback from existing competitors, regulators and employment institutions to ensure a more equal playing field
What has happened is that an increasing part of the workflow is outsourced to the supplier and user (via their smartphones) and more is automated. But whether itâ€™s Google ousting Yellow Pages, Apple iTunes ousting Tower Records (Napster was truly Societal, and look what happened there
â€œThe Internet is nothing less than an extinction-level event for the traditional firmâ€
Is true, but is qualified â€“ If:
The traditional Firms cannot digitally transform themselves sufficiently to compete well enough, soon enough.
The UberFirms can avoid a levelling of employment & regulatory conditions, and afford to undercut long enough, to drive the traditional Firms out of business.
“In the past, generations were defined largely by the year in which one was born. Now target marketing has reached the point where generational attitudes are discerned and used as a starting point for media planning.”