In our previous episode of Spirited Dialogue, Asanka and I explored how leaders can transform organizations through First Principle Thinking. By identifying and challenging assumptions, breaking down problems into their fundamental principles, and employing our understanding to develop new strategies and solutions, we can unlock innovation and exceed customer expectations. Businesses that leverage this strategy can forge stronger customer relationships, deliver exceptional experiences, and gain a competitive advantage.
In this episode, we are continuing that thread and exploring how to identify value within an organization. Identifying business value at the outset of a digital transformation journey is essential for strategic planning, resource allocation, risk management, and ensuring alignment with the organization’s long-term goals.
- By doing so, organizations can increase the likelihood of successful and meaningful transformations that yield tangible benefits and competitive advantages.
- Having a value matrix or a priority matrix will help drive data-driven decision-making and reduce emotional prioritization.
- The conversation should be about the value being generated and not just financial gains, but the other 7 areas that we talked about.
- We need to have separate efforts to identify the business value created at an organizational level and at a team or departmental level.
- Sometimes these two are different and we need to have a good way to show connectivity between the two efforts. It also helps the workforce understand what the digital transformation entails and how their work drives organizational value and success, making their work more meaningful and providing significant clarity in their Why or purpose.
In the video, Gautham referenced the phrase “existential flex” and said that it was from either Outliers by Malcolm Gladwell or Think Again by Adam Grant. He was wrong on both counts 🙂 It was actually The Infinite Game by Simon Sinek. All three books are insightful and highly recommended reading for transformation leaders.
- Start with Why – Simon Sinek
- Outliers – Malcolm Gladwell
- Think Again – Adam Grant
- The Infinite Game – Simon Sinek
- BE 2.0 (Beyond Entrepreneurship 2.0) – Jim Collins