A modern cyber system with inconceivable capabilities has been built by fusing information, operational, cooperation, and communication technology.
The list includes powerful virtual brains (algorithms), real-time communication and collaboration systems, and an immersive work environment that optimizes human interventions, connects intelligent things, elastic supercomputing, elastic super storage, and elastic networks.
To encroach on established enterprises, digital dragons and lizards have been exploiting the current cyber system to provide revolutionary products, services, and business strategies.
Digital immigrants’ sole option is to digitize their organization’s anatomy in addition to commercial and industrial procedures. Digital businesses are exceedingly simple to set up and administer. As a result, we must foster lean digital firms that are future-proof and ready, as well as cost-effective.
Almost everything nowadays is infused with software. A car’s software contains ten million lines of code. Customer assistance and information should be available anywhere, at any time, and on any device. Organizations and employees must learn a new way of thinking known as “lean digital thinking,” – a manifesto for companies looking to navigate the digitalization journey effectively and efficiently.
Organizations can acquire new capabilities that assist in digitalizing the organization’s anatomy, including vision, business models, business strategy, business outcomes, goods, services, processes, workspaces, and operating models, using the modern cyber system powered by lean digital thinking.
Organizations are now required to operate at two speeds. That means their current business is run at marathon speed, while their digital enterprises run at sprint speed. To effectively manage two-speed firms, a notable shift in culture, skills, and behavior is required.
Technology has become a driving force rather than a facilitator for the first time in the century since it has had a considerable impact on the entire organization’s anatomy. Without increasing their technology expenditure by 15-20% of revenue, digital immigrants will fail to survive in the fourth industrial revolution and digital economy.
As a result, chief information officers (CIOs) and chief technology officers have been tasked with developing a sophisticated digital technology strategy, governance, and architecture to aid in the establishment of a modern cyber system. As a consequence, CIOs must re-engineer and re-imagine their whole technological environment, to assist the organization’s digitization journey.
CIOs are expected to take on roles such as digital innovation champions, strategic consultants, members of the board of directors, and the organization’s digitalization steering panel. This means that the key performance measures for CIOs must go beyond infrastructure availability, reliability, and application stability.
Organizations must design, create, implement, and manage several types of software applications to establish and run digital enterprises, such as systems of records, systems of engagement, systems of things, systems of the body, systems of brains, and systems of intelligence. This is a significant shift that necessitates the implementation of new technological infrastructures such as multi-clouds, edge computing, and programmable networks.
To summarise, every business is a digital business, and every digital business must be lean. Lean digital companies promote corporate success while keeping firms relevant in the digital age.