Recommended Preface to "Dual-Track Transformation": The transformation of an enterprise starts with repositioning, thinking upgrading and process innovation
Recently, the topic of “Digital Transformation (opens in a new tab)” has become quite popular. Not only have technology and finance magazines used this theme as cover stories, but many companies have also contacted me, hoping to help guide them in their transformation.
Simply put, “digital transformation” is the process by which companies use emerging technologies to find new businesses and opportunities. In addition to bringing abundant business benefits and opportunities to enterprises, the significance of “digital transformation” to society naturally includes improving efficiency and reducing risks and accidents.
Although “digital transformation” has become the source of core competitiveness of enterprises and a key engine for enterprises to create the next profit formula, there are actually many key issues that are far more important to the sustainable development of enterprises than “digital transformation”, such as: defining future business opportunities, understanding customer needs and solving problems, etc.
Talking about the upgrading and transformation of enterprises, I can’t help but recall that more than four years ago, I established the Taiwan E-commerce Entrepreneurship Association (opens in a new tab) (TeSA) with a group of friends. Our original intention is to accompany the local e-commerce industry to grow and thrive, and to successfully go through the painful period of transformation.
In the past few years, we have held many courses (opens in a new tab), lectures and activities, and have also established an e-commerce university to coach many traditional merchants. Not only do we help them find the right channels for business marketing, improve their return on advertising investment (ROAS) and return on investment (ROI), but we also assist these business owners in training the company’s grassroots talents, and use various technological tools to establish communication channels with customers. But the most important thing is to train every member of the team to establish a strong Growth Mindset (opens in a new tab) (Growth Mindset).
The so-called “Growth Mindset (opens in a new tab)” was developed by psychologist Carol. Dweck (opens in a new tab) Proposed by Professor Carol S. Dweck. She believes that there is no other way to realize personal potential. Only by boldly challenging the difficulties in front of you can you have the opportunity to grow. Even if you fail or the goal is not achieved, it is not due to your own incompetence; at this time, you must recall the process and reflect deeply, and continue to move towards the path of growth.
It is true that it is not only high-tech companies such as e-commerce and Internet companies that need to upgrade and transform, but many traditional industries will also face this issue. Just like Scott. Anthony (Scott D. Anthony), Clark. Clark G. Gilbert and Mark. Mark W. Johnson Johnson) and other three authors in “[Dual-track transformation: upgrading existing business + exploring new market gaps, reversing the dilemma of innovation]” (https://www.books.com.tw/exep/assp.php/vista/products/0010808399?utm_source=v (opens in a new tab) Manila Water Conservancy (opens in a new tab)(Manila Water) case is impressive.
The Manila Water Conservancy Company, founded in 1997, is a public-private partnership. The purpose of the company’s establishment is to provide every household in East Manila with a reliable source of drinking water. However, past successful experiences may become a stumbling block in the pursuit of excellence. In order to find new growth opportunities, the operations team has adopted different approaches.
The three authors wrote in “Dual-track Transformation (opens in a new tab)” breaks down the case of Manila Water in the Philippines and explains step by step how they took the time to identify growth gaps and clarify all the problems that had to be solved. Then we started to set the goals and boundaries of the new growth plan, and then screened out the two areas of strategic business opportunities with the greatest growth potential.
You must know that growth often comes with risks. This book also records in detail how the Manila Water Conservancy team sensed market needs and changes, and persuaded investors to change course and support the use of robust plans to revise the original core business.
This book (opens in a new tab) The three authors encourage everyone to have the courage to choose, clear and focused thinking, curiosity and the belief to persevere. They also outline a formula for a dual-track transformation architecture, trying to provide the best solutions for the majority of corporate managers, so that the company can become stronger and more profitable after moving to the market, thereby opening a window of opportunity to create a large-scale new market.
In an era when the media is praising “digital transformation,” relying on digital tools alone is not enough. If you want to keep pace with the times and embrace loyal customers, you must do something, including repositioning, upgrading of thinking, and process innovation. The book “Dual-track Transformation (opens in a new tab)” is undoubtedly an action guide suitable to be kept on your desk and read at any time!
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Vista Cheng speaks and runs workshops on AI workflows, writing and content systems for companies, schools and public agencies.
