Overcoming digital disruption is not just about technology 

| April 15, 2019

Disruption and transformation is not all about technology. It is as much about educating leaders and empowering people to transform, says a leading not-for-profit.

As recently reported in the media, many boards do not understand digital disruption and the associated need to transform well enough.

And not enough board members and senior executives want to learn the skills that are required, cautions The Australian Transformation and Turnaround Association (AusTTA).

“If they did, they would ensure their future and career, and the longevity of the companies they lead,” AusTTA chair Kyle Loades said.

Mr Loades, who is himself a chair of several organisations, realised this challenge and undertook a course with AusTTA “to better understand those organisations I was helping to lead”. This saw him become a Fellow of Transformation and then ultimately the chair of AusTTA.

“That course revealed so much, so much that we as directors all need to learn. It is why I became more involved with this not-for-profit, to help other directors realise that they can contribute so much more to the organisations that they are leading.

Mr Loades added: “Unfortunately too many leaders believe disruption is all about technology and that they can’t control that. There is much more to disruption and ensuing transformation, aspects that they can direct and control. There are simple and easy to use tools and techniques that can make a big difference to an organisation between simply surviving to thriving today.”

“Some leaders do nothing as they think that doing something, changing things is too much of a risk. The greatest risk is doing nothing in today’s changing markets!”

Mr Loades said one of the greatest problems Australia faces today is to overcome entrenched leaders’ dislike of change.

“The increasing convergence between physical and digital businesses globally are reshaping the nature of competition.

“Global economies are increasingly shifting from supply-side economies based on the production and distribution of products and services to demand-side economies that are anchored in customers and communities. These shifts together with the emergence of a range of technologies and channels are fundamentally changing the nature of business.

“It requires both;

·      the adoption of emerging digital technologies that are transforming the customer experience, operational processes, and business models; and

·      new leadership capabilities that can support how the organisation manages the digital transformation.

 “These shifts will be the foundations of prosperity in the 21st Century,” he said.