19 APRIL2025W MAN LEADERGLOBAL W MAN LEADERGLOBAL In any transformation or operation, mapping the value chain and customer journey is crucial. By substituting "customer" with "colleague" or any end user, you can measure the entire process: the emotional side of the customer experience, the usage of digital tools, and the outcomes. These outcomes might include improved satisfaction, higher revenues, quicker time to market, or faster adoption of innovations.Performance management is key--set clear criteria and use data to evaluate if your tactics are effective. Finally, avoid implementing technology for its own sake. Technology is a powerful value creator, so it's essential to define the value you aim to achieve before pursuing any technological solution or upgrade.HOW DO YOU BALANCE PUSHING FOR DIGITAL INNOVATION WITH ENSURING STRONG RISK MANAGEMENT FRAMEWORKS IN LARGE, COMPLEX ORGANIZATIONS WITH STRICT REGULATORY STANDARDS?It's important to have a strong partnership with the regulator, meeting regularly to understand their needs, goals, and perspectives. Innovation plays a key role, and by addressing key questions, focusing on needs, and leveraging tools like innovation labs and Horizon Scanning, you can explore new technologies and practices from other industries to push boundaries.A strong relationship with the regulator, general counsel, and risk management team helps strike a balance between innovation and compliance. In some companies I've worked with, we've influenced regulations through innovation, always prioritizing safety. Safety should be central--whether for employees, customers, or the products themselves. Demonstrating how innovation improves safety and can support pushing boundaries while aligning with regulatory expectations. Lastly, companies must assess their own risk appetite and thoroughly understand the potential downsides of innovations, along with strategies to mitigate negative impacts.MANY ORGANIZATIONS STRUGGLE TO ALIGN DIGITAL INITIATIVES WITH CORE BUSINESS GOALS AS PRIORITIES SHIFT. HOW DO YOU ENSURE THIS ALIGNMENT STAYS ON TRACK? WHEN PRIORITIES EVOLVE, HOW DO YOU RECALIBRATE STRATEGIES WHILE MAINTAINING MOMENTUM IN TRANSFORMATION EFFORTS?Alignment is one of the most important aspects of success. It begins at the top--with the CEO, executive team, and board. I believe in having three or four headline goals for the entire organization, ensuring these are communicated clearly and adopted across teams. Alignment with technology, digital, and data is critical. This requires a well-defined digital strategy--whether focused on digital, AI, data, or technology--that is integrated into the core group strategy. It should not exist as a standalone element but must directly support and align with company goals. A clear North Star is essential, defining how technology can create or protect value while underpinning the core business objectives.Operationalizing this alignment involves adopting a product-based or agile model. All work should serve the product, which represents outcomes tied to core business objectives. This approach shifts focus from isolated, short-term projects to outcomes directly linked to business goals. Co-designing and co-creating with end users ensures the value delivered aligns with those goals.Quarterly planning sessions, or business reviews, are crucial for maintaining alignment. These cross-functional meetings involve end users, sponsors, and technology teams to evaluate priorities and ensure they remain aligned with strategic objectives.Two key elements are essential: A strategy North Star--a digital or technology strategy rooted in core business objectives; A value-driven operational model that maintains a golden thread connecting all work to business goals.Finally, prioritization is critical. Companies often spread themselves thin across hundreds of projects that fail to shift the dial or align with strategic goals. Success comes from focusing on the top priorities and transforming the mindset and ways of working to ensure all efforts drive tangible value.HOW IS DIGITAL TRANSFORMATION EVOLVING FROM DISCRETE PROJECTS TO A CONTINUOUS PROCESS? WHAT STEPS SHOULD INDUSTRY LEADERS TAKE TO ORGANIZE TEAMS AND ALLOCATE RESOURCES TO SUPPORT THIS SHIFT?This ties into the questions and responses regarding working, thinking, and operational models described above. Transformation depends on where you start, and all transformations have a catalyst. Initially, the curve is steep, requiring continuous marginal improvements in an agile manner, involving significant efforts. An analogy is a plane taking off: the transformation begins with high momentum like a plane accelerating down the runway before a steep climb. This initial phase drives momentum. Once companies "level off," they transition into continuous improvement, which is vital. Transformations should not have a defined start and end but should integrate into daily operations, becoming routine rather than discrete projects.To sustain momentum and stay ahead or in line with the technology curve, companies must embrace continuous transformation. The approach depends on the industry--some aim to lead on the bleeding edge, while others benefit from being fast followers. Leaders should structure teams around products and outcomes, working cross-functionally. Teams should include representatives from digital, IT, product owners, customer experience, finance, risk management, and infrastructure--ensuring equal voices and breaking silos. This team mindset focuses on delivering value, aligning efforts directly with business objectives and strategic outcomes.
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