Winning the 4 Battles – Fear
Laurent:
In a previous blog we talked about the four battles we need to win to succeed in our Digital Transformation Journey. We described what each battle looks like, both for executives and middle managers. Today we’ll continue to focus on the countermeasures needed to win each battle. Let’s start with a summary. What are the four battles we need to win?
Pascal:
Based on the work we’ve done together over the years with major multinational companies, the four ongoing battles are:
- Ignorance
- Fear
- Guesswork (due to lack of data)
- Scatter (or diffusion of effort)
Laurent:
Very good. Now let’s continue talking about countermeasures. Let’s talk about fear. What are the countermeasures to fear?
Fear
Pascal:
The root cause of fear is seeing emerging technology as a threat – and not recognizing it as an opportunity. And the remedy entails that mindset shift. Once we overcome our fear of the unknown and recognize that Digital disruption is an opportunity for growth and learning, new possibilities open up.
Laurent:
Very good. So, shall we look at the practical countermeasures to fear? Let’s start with the executives. How do we help them overcome their fear and see Digital as a marvellous opportunity?
Pascal:
Executives need to experience AI, Data Analytics, Internet of Things and other so-called exponential Technologies in a safe space, with peers, preferably by doing practical things. They need to practice ‘New Ways of Working’ and the underlying mind- and skillsets in the same way. And again, the key is to learn by doing and engaging practical activities.
Our Digital Executive Forums are meant to provide such relaxed, engaging learning opportunities. Ecosystem Meetups are our most basic executive forum. Let’s say I’m a financial services executive. I know that Data Analytics is critical to our business, but I’m not a ‘math guy’ and don’t know what it is. I don’t understand all the jargon and I don’t want to appear weak or inept.
Ecosystem Meetups enable us to meet and make friends with relevant Tech startups in a low risk, relaxed atmosphere. You learn the language, Technology and state of the art and get a sense of what’s possible. The whole thing becomes less intimidating, and executives start to think, “Hey, I get it now! This really is an opportunity for our business.”
Pascal:
Tech Deep Dives entail focusing on a given technology, say, Data or Internet of Things, and diving deeply into the state of the art, and what it means for our business. Imagine that we are a producer of high end equipment for the Energy industry. How might we use sensors, AI and IoT to create new offerings? Can we harness all the critical data our equipment generates? Can we engage Tech startups who can help us gather and translate the data into meaningful new offerings? Can we learn to combine exponential technologies in creative ways?
Learning Expeditions are a third kind of a Digital Executive Forum and entail learning expedition to explore prominent ecosystems. Singapore, San Francisco, Tokyo and Toronto for example, are all innovation hot spots and common destinations. Learning Expeditions can last up to a week. We’ve found that the keys to success include: clear learning objectives, a detailed agenda, project-based learning, and frequent breaks for building connections and friendships.
Innoventures are perhaps the most ambitious Digital Executive Form. Executives are paired with Tech partners and take on practical innovation challenges through startup competitions, hackathons, or even direct partnerships. The goal is to create effective commercial pilots.
Laurent:
That’s a good summary. What else would you recommend to help executives overcome fear in their Digital transformation?
Pascal:
A clear Digital aspiration and winning logic are also essential to overcoming fear, and that’s what our Digital Strategy Compass is all about. The process entails a) defining our Digital vulnerabilities, b) articulating a Digital innovation hypothesis, and c) developing and deploying a balanced innovation portfolio. You can find a great deal more about Digital Strategy Compass on our blog page.
Laurent:
Wow, that’s a great summary of how we might overcome Digital transformation fear among executives. How about middle- and front-line managers?
Pascal:
We can help middle-and front-line managers overcome fear in the same way – by giving them hands-on learning in a relaxed, safe collegial environment. Our learning methods can include practical Bootcamps in core methodologies like Design Thinking, and Lean and Agile Ways of Working. We can pull middle-managers into Hackathons and related activities. One of our clients introduced a celebrated ‘lunch & learn’ program wherein Tech experts, both internal and external, would provide an hour long lecture and demonstration over lunch.
We are strong believers in giving middle- and front-line team members the opportunity to innovate through ‘Shark Tank’ like programs wherein you get ‘metered’ funding for developing new business offering. Our Innobox program entails just such metered funding, as well as, mentorship and coaching for aspiring intrapreneurs, who present their ideas to ‘innovation councils’ comprising senior leaders who provide feedback, guidance and if the idea is proving out, further funding. We want to make it easy and fun for people to innovate, while teaching them the discipline required to innovate up the proverbial ‘hockey stick’ curve.
One final point: open and honest communication is essential to overcoming fear. Each level in the organization has specific needs and concerns with respect to Digital transformation. Each level needs to be heard and have confidence that they’ll get ample opportunities to learn and grow. “We’re going to learn and grow together” is a powerful message.
Laurent:
Wow, you’ve just detailed the series of practical events and activities that help people overcome their fear of Digital disruption, understand the opportunity, and to frame practical responses to innovation challenges.
Pascal:
And thereby, begin to understand that Digital disruption is a major opportunity and nothing to be feared.
