3 Popular Myths Of Business Leader About Digital Transformation

April 22nd 2020, 12:13 pm Author: P.Chau

Digitization is the key to success in the new decade. Digital transformation is a solution for enterprises to survive and develop for a long time in today’s fiercely competitive market. In fact, in our consultations, we realize that most customers are still quite vague with the above concept and often make the same mistakes.

Digital transformation is an unbelievable future story and only for technology players

It is noticeable that traditional companies are limited and left behind because of the poor processes, mechanisms, pressure from the leadership and outdated technologies. For a long time, traditional companies seemed to be separate from the digital transformation playground – which reserved only for large and high-tech companies. They are keeping a main role in nourishing the economy.

Digitization is a fair competition for all businesses in any industry. In Vietnam from 2017 until the present, it is considered as the outbreak of technology applications. We are no longer surprised at big names like Grab – a ride-hailing app that challenges the traditional motorbike taxi and taxi industry, live ATM from TP Bank – 24/24 ATM station to help customers make transactions like savings or bills payment without going to the bank.

In conclusion, if we are not flexible to keep up with the strategic trends, especially restructuring technology, our businesses will soon be eliminated from the market competition.

Only when the technology system is completed, the digitization process be performed

The realization of digitization can develop in parallel with the application of technology. After all, technology is just a tool for businesses to digitize. Success in the digital journey must lie in the mindsets, strategies and the solutions to any problem that come from both leaders and employees at the business.

As we all know, digital transformation plays an important role as business cultural foundation through digital thinking and culture fosters innovation. However, one should avoid overdependence on technology to save their business. Digitization is a consistent journey with technical support so it needs to be built and practiced based on well-prepared strategies.

The customer is king

According to Philip Kotler, the nature of modern marketing industry is adapting to the customers. They probably do not have enough clues to make the decision on what they really want. If the business always considers the customer as the center of development and is willing to meet any of their needs, the business will soon lose its own difference and brand identity.

So, instead of following the path of meeting all the needs of customers, businesses should turn themselves into people-oriented guides throughout the path from brand identify to brand favorite and support.

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