What technology trend best fits your business?
Have you recently watched a so-called ‘action movie’ from the 1980s or 1990s? If you did, you were probably surprised by how slow the movie was filmed compared to the newer titles in the genre. It just goes to show in what fast-evolving world we live. Fashions fade faster, hypes disappear when most people are still considering adhering to them and technology trends come and go at the speed of light. For organizations, it becomes increasingly difficult to know what technologies to adopt when you want to grow towards truly smart.
In a previous blog, we defined smart businesses as companies that are able to adapt to changing circumstances and contribute to a sustainable future. The multitude of options and the need to act before their business is disrupted is compelling managers to identify alternative strategic options to technological change fast. A powerful model that helps Management identify the relevant technologies and prioritize their resources is the ‘Smart Adoption Model’ that we’ve developed.
The smart adoption model is based on two axes, taking into account both the technology maturity of an organization and the expected impact on the business model.
The smart adoption model yields four quadrants that guide organizations to focus managerial attention. Above all, it assists executives in allocating scarce resources (for instance, money, physical assets, human resources, time, data) in the most optimal way. Depending on the level of maturity and the expected impact, the model advises organizations to either observe and follow technology trends, experiment with and learn the trends, align and embed them or – at the highest level on both axes – adopt these trends in order to transform the business. I will not go into detail on each of the quadrants here, you can read all about the smart adoption model in our white paper Shaping Smarter Businesses.
A word of caution though: each technology trend should be evaluated both separately and in conjunction with other trends, as one trend may impact the effects of another. What it comes down to is to intelligently recombine technology assets. To cite just one example: a regional hospital defined a change program labeled ‘Embrace the 3rd Healthcare Revolution’ by bundling big data algorithms with Hospital ERP, hybrid cloud and an experiment with computer-assisted diagnoses based on ‘deep learning’ for a specific pathology. The hospital considers the combinatory effects of this program to be substantial in realizing the transformation it anticipated.
Growing towards truly smart is a process that will take some time in organizations and cannot be rushed. Having identified the relevant technology trends is the first step. Using the smart adoption model to assess whether your organization is ready to apply these trends and what the impact will be on the organization is a second step. Next, businesses will need to align or develop the right capabilities to make its strategy come true. That is something we will develop in our next blog. Can’t wait? Then download our white paper.
- Geert Scheipers. You can follow Geert on Twitter (@g_scheipers) or connect with him on LinkedIn.
- Jan Van der Steen. You can follow Jan on Twitter (@vdsjan) or connect with him on LinkedIn.