Love it or hate it, modern businesses cannot ignore nor negate the presence of digital technologies. Digital platforms and technologies have become a common occurrence in businesses of all shapes, sizes, and industries.
Many people think that technology is overrated and the over-dependence on the same leads to the creation of lopsided businesses.
Brands and companies who have not been able to make the transition to the digital and using of technologies are the ones who stand to lose customers, market shares, and sales figures.
If the recent Covid-19 pandemic has shown us anything, it is that the future of trade and commerce is digital. In this article, we look at how business leaders need to establish themselves in the new digital age.
Business Leaders in the Digital Age: What they need to do?
I personally have seen many business leaders fail to integrate technology, simply because they feel that they would have to learn it themselves.
Whether it is about newer automation models, or workflow systems, or even optimizing social media performance, business leaders are hesitant to learn them themselves.
According to a study conducted with 3100 business executives, by the SAP Business Centre, nearly 96% stated that utilizing digital performance was one of the strongest goals for their business.
This means that everyone realizes that digital transformations are important to lead successful businesses in 2020. Business leaders make complex decisions affecting their business every day. Using technology, data, and precision to make informed decisions can help them achieve strategic goals.
In 2020, leading a business is not about being in charge of a hierarchical organization. In contrast, it means encouraging-
- Participation from everyone
- Involvement of everyone
- Contribution from everyone
The aim is to create self-sustaining and organized teams, which are able to use technology to optimize processes in daily operations.
How Business Leads should train themselves for the Digital Era?
In this section, we will look at how business leaders can help themselves grow and benefit their organizations.
1. Never Stop Learning-
I have already mentioned that business leaders are sometimes wary of technology as they have to learn new things themselves. However, if they are not learning, they are being directly responsible for their company’s downfall and stagnation.
Business leaders like CEOs, CXOs, CFOs, and start-up entrepreneurs should always look to add value by being part of leadership training Dubai. Learning new things about how digital can truly transform organizations can help them impart the same to their employees.
2. Building Organizational Trust-
One of the core reasons why many companies stagnate is because leaders do not trust those working at lower levels of management. However, experts point out that this is where technology can play a major role.
Using technology, data and automation can ensure that facts are given priority over any other area of engagement. Talking, speaking, counters, etc, can all be avoided as data is a sufficient indicator to prove what is right and what is wrong.
3. The Human Touch is Important-
We all know how business leaders are never involved in the day-to-day running of businesses. In fact, in the digital age, most verticals function independently with their management. However, business leaders are important as they have to lend that final human touch.
Here, people’s communication takes precedence over technology. While it is a good thing, there should be some restraints, which need to be exercised. Having an open-door policy, small encouraging talks, and open office culture are some ways of imparting the human touch.
Can Leaders change the way Organizations approach Digital and Technology?
According to experts, any change in the organizational approach of businesses needs to start from the top-down. In other words, it is the responsibility of the business leaders to start with the transition to digital and technology.
Starting small form just having a business presence on search engines, creating a brand website, and optimizing the same can be a good start. This can be followed by looking towards social media platforms as an avenue to improve branding, exposure, engagement, and sales.
Using workflow tools and automation can help businesses streamline internal processes. It can help in fixing the responsibility and accountability of different employees and keeping a proper check on their day-to-day assignments.
It is impossible for any business leader to micromanage everything. Technology enables leaders to know what is going on in the organization and at the different verticals. By using ‘Data’, leaders can create a data-driven organization, which is leaner, fitter, and meaner in every aspect.
The Final Word
Technology is a powerful asset for empowerment. It gives lower management the ammunition to understand and manage complex procedures in an easy and simplistic fashion.
Many opine that using digital and technology the first time, is like making up your mind to working out. The struggle is to enter the gym or the fitness center. Once you are able to breach that, other things follow easily.
A good business leader is not only the one who is able to prepare his organization for the worst eventualities. He or she is also the one who is prudent enough to prepare the organization and the various teams for the future.