Effective executive leaders require the necessary tools and skills to inspire and impact their teams allowing firms to run competently and smoothly.
However, the problem in many organizations is that those tools and skill sets have changed in the era of digitalization, Internet of Things and Smart everything.
Used to be, it was enough for an executive leader to understand mission statements, objectives, action plans and goals of a company in order to lead teams successfully. Those skills are still important, but now so much more is involved.
Executive leaders today must have a good understanding of technology and how to deploy it in order to improve the bottom line.
Yet, according to the National Center for Manufacturing Sciences, 94% of all small- and medium-sized manufacturers in the U.S. have not adopted digital manufacturing.
If the perplexing low rate of investment and adoption in digital technology by mid- to small-size organizations is any indication, it might seem corporate leadership finds the taking the first step on the digital journey intimidating. It’s also possible organizations are underestimating the importance of that first step.
Experts in this area believe that to focus on the right strategy, leaders must acknowledge that digital transformation goes far beyond a simple shopping cart or responsive website. It’s about understanding that your company is about to change the way it does business forever.
Organizations and their leaders should understand that in order to create a transformational commerce ecosystem, they need to ask some very important questions about the business. For example, how do customers want to interact? Determining the right mix of online and offline sales and support, and meeting the evolving expectations in terms of experience are crucial.
Also, how does digitalization impact sales and marketing? For many organizations, the move to digital means that marketing takes the drivers’ seat. Digital marketing can provide performance metrics impossible to get with traditional analog methods. This doesn’t mean that sales is not needed, but the value they provide must evolve.
Want to learn more? Tonex offers Executive Leadership Seminar, a 2-day course that provides participants with stronger tools for wrestling with the competing demands of their leadership positions.
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