Companies are not getting enough value out of their investments in digital. Christopher Vollmer, Managing Director for Strategy&’s Digital Services, shares the top three digital mistakes that are holding companies back.The moral to the story that Vollmer relates is this: Proceed with thought, caution and courage. Indeed the successful general in the field of battle has a bias for action, but he engages in war thoughtfully and planfully, along with bravely and expediently. Moreover, success depends on an ongoing review, and revision as necessary, of his battle plan, and not just his battle plan, but also his inner assumptions (beliefs) and desires (needs). Kaiser Wilhelm and Adolf Hitler stirred up national fervor among Germans in the last century, but their bellicose bent masked their grandiose persona. It was the latter that was their downfall, and the cause of two generations of suffering and humiliation for their people, resulting from World War I and World War II.
So before you as the CEO get caught up in action, such as a big investment in new technology, initiatives in digital transformation, and misguided focus in relation to customers, it is important to (Step 1) begin with the end in mind (clarify carefully what you're trying to achieve; (Step 2) walk backwards to map the pathways (i.e. from where you need to be to where you are now); and (Step 3) walk these pathways (act forthrightly and expediently, and also mindfully and honestly, on what it is you need to do to get from here to there). These three steps comprise The Core Algorithm, and it is a meta-methodology for weighing digital transformation: meta-, because The Core Algorithm puts vision and mission; priorities, aims and values; and people, their capabilities and potential before digital transformation, not necessarily to diminish the role or impact of the latter, but instead to put it in its proper context. In other words, The Core Algorithm is a methodology for helping you determine what is indeed the best methodology to employ vis-a-vis your vision etc.