Accelerating the businesses of the future in 2021 — Latam Business RoundTable
In the first edition of the Latam Business Roundtable series, we had digital transformation specialist Marc Vidal. Let me share with you the main conclusions of the session.
Uncertainty drives society
According to Marc, after everything that has happened, talking about the future is talking about digital transformation. We have been able to adjust to the changes thanks to technology. Therefore, we must seize this unprecedented moment and take it as an opportunity for improvement. We know more today than we did yesterday. We now have new and better tools, and, best of all, we are learning. We have learned that technology allowed us to deal with such uncertainty, not only about digital transformation. Although it might seem strange, creativity thrives under uncertainty.
Right now, we are all fighting against disease. This will come to an end someday, but we have to promote and follow up on new business models and procedures daily, as the world has changed and companies, universities, and schools have also had to adapt to it.
Flexibility is the keyword, and digital transformation is the way.
Team management is now much more complex, and technology is the only thing that allows us to be flexible. Telecommuting is not just working in a place other than the office, and it requires much more than just a remote connection. It requires more powerful systems, accessible data, and cloud backup. In addition to transforming ourselves digitally, we must also adopt an entirely new culture to become digital.
There is a learning curve to it, but we have to speed it up. In about two years, those who have not identified the four factors of digital transformation will struggle.
The four factors are:
1. How to transform data into meaningful information that, in turn, becomes knowledge.
2. Accept those processes best when technology is used at the right time and with the right strategy. Technology is helping us, not hindering us. Incorporating technology into our procedures helps us improve human processes.
3. Business models need to understand how the purchasing technology works.
4. Work methodologies will change and will rely on more synergy and collaborative work.
Lastly, it is essential to emphasize that the digital transformation is here to stay. This is our chance to unite and face the challenge of reinventing ourselves as an opportunity.
Leaders must lead
Our initial objective was to provide our attendees with a session on how business leaders should prepare themselves and their companies for the future’s digital business world. However, in the end, and to my pleasant surprise, we should be looking for business drivers and people managers and looking at how we react and our ability to adapt and make the most of digital acceleration and digital transformation.
Leaders will have to lead, they will need a strategy, and they will have to understand that the world has changed, and thus, they will need to change their approach and tactics accordingly. Change requires transformation, whether to achieve success or to learn. Leadership that sees a mistake as an added value is good. Connectivity is also an added value, and a leader can transform this network into something more complex. A leader must be able to value things and people.