Align to a “North Star”: this element points the company in a unified direction. Crafting an effective North Star vision statement is paramount to corporate success. A vision statement should be audacious, motivational, and leave no doubt as to what the company intends to become.
Build a foundation of shared values: for a company to achieve desired business results, the vision needs to be integrated into how the organization thinks and acts. Every employee must understand the vision and feel accountable for contributing to its attainment. This requires appropriate organizational structure, culture, processes, skills, and incentives. Everyone should always pull in the same direction.
Connect your brand to customer experience: employees’ efforts should be invested in satisfying the customer. “The Customer Comes First” must be an innate part of the culture. All teams must understand their customer, embrace customer needs, and solve customer problems as the main driver to their work.
Engaged employees lead to happier customers: firms with a people-centric workforce strategy linked to business outcomes significantly outperform their competitors in revenue growth, market share, profitability, and innovation. A workforce strategy that puts employee experience at its heart drive high performing organizations with a fit for purpose, a workforce that is more adaptable, resilient, and better able to address volatility, uncertainty, complexity, and ongoing transformation.
Understand your customer in the context of your business: a thorough understanding of the company’s customers comes through insights based on data. A digitally transformed organization, has a culture and leadership style that relies on big data, advanced analytics, and integrated systems of insight to continuously find new insights and develop strategies accordingly.
Create an Integrated Ecosystem: Digital Transformation requires the right understanding, implementation, and commitment to technology. Knowing how to leverage technology as a key differentiator, instead of viewing it as a cost center, is the final and crucial piece to the puzzle. This knowledge can only come from alignment of technology with the other four elements of the model.
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