MSc Management Leading through Digital Disruption Assignment Sample 2023
Introduction
Organisations must stay current with the most recent developments in digital technology in order to remain competitive in an environment that is increasingly going digital. An overview of the actual situation of digital transformation and upcoming trends that the CDO should be aware of are provided in the study that follows.
It is based on in-depth research done by renowned consulting company Deloitte. The report starts off by providing a general review of the current status of digital transformation, covering the difficulties organisations currently face, the opportunities that come with it, and the New Trend for Digital Agility.
Task 1: Opportunity and Challenge analysis
Company Overview
One of the “Big Four” accounting professionals with headquarters in London, the United Kingdom, Deloitte has a global professional services network that is the largest in terms of revenue and personnel. Through over 312,000 experts across 160 countries, Deloitte offers auditing, counselling, financial advising, risk advisory, taxation, and legal assistance (Deloitte, 2013). Deloitte undertakes business in the following four core sectors: consulting, financial advisory, audit & assurance, and tax & legal.
The business provides services to customers across a number of sectors, including banking and securities, consumer and industrial goods, energy and resources, government and public sector, healthcare and life sciences, technology, media and internet, and transit. Customers of Deloitte include both public and private businesses, as well as governmental and charitable organisations. The organisation provides services to customers in more than 150 nations, including the US, UK, Canada, Australia, and Japan (Shen, 2018).
The subsequent technological issues Deliotte is now dealing with:
Organisations need to change if they want to stay competitive as technology is continuously changing.
Operation: The challenge Deloitte faces is to somehow adapt to the most recent technological advancements. This entails being current with new hardware and software as well as being aware of how new technologies might be applied to enhance business processes.
Visualization of data: Using data visualisation to effectively convey information is another difficulty. It might be challenging to condense data into an understandable manner as it grows more complex (Roy et. al. 2016). This is particularly true when attempting to inform clients or shareholders. In order to make data more accessible, Deloitte must discover ways to visualise it efficiently.
Customers’ Perspective: In order to better understand consumer behaviour, Deloitte must also identify new approaches. Finding patterns and trends in the large amount of data that is presently available can be challenging. Effective product development and marketing depend on this knowledge. In order to keep up with the competition, Deloitte must continue to make investments in consumer intelligence.
Objectives of digital transformation:
- Improving customer experience: Deloitte should prioritise making data easier to acquire and comprehend in order to enhance the customer experience. This can be accomplished by making investments in data visualisation and using cutting-edge technologies to improve corporate operations.
- Improving company procedures: Deloitte should concentrate on utilising modern technologies to improve procedures (Shahiduzzaman and Kowalkiewicz, 2018). They will be able to maintain their efficiency and outperform the competition with this.
- Improving product development and marketing: Deloitte should concentrate on comprehending consumer behaviour in order to enhance product development and marketing. Data analytics can be used to find patterns and trends to do this. To better understand consumer behaviour and create more successful marketing and product development strategies, new techniques to consumer intelligence can be applied.
Task 2: New Trend for Digital Agility
The Digital Business Agility Model
This Model is intended to assist businesses like Deloitte in being more adaptable and responsive to market developments. It is founded on the idea that for businesses to stay competitive, they must be able to quickly adapt to changes. The three main elements of the model are:
Hyperawareness: An organization’s capacity to detect and react swiftly to changes in the external analysis is referred to as hyperawareness (Saputra et. al. 2022). An organisation must be able to watch and comprehend changes as they occur in the market and have real-time visibility into what is going on there in order to be considered hyperaware.
Figure 1 Digital Business Agility
(Source-R. Wade, 2016)
Informed Decision Making: Making well-informed decisions involves a company’s capacity to use analytics and data to reach decisions with speed and accuracy. An organisation must have access to reliable and current data and be able to use it to make decisions fast if it wants to make well-informed choices.
Fast Execution: The ability of an organisation to promptly and successfully carry out decisions is referred to as “execution speed.” An organisation needs to be able to adopt decisions rapidly and have a streamlined decision-making process in order to execute quickly (Patil et. al. 2022).
Implement new technological trends:
Leading provider of professional services, Deloitte is in a good position to take advantage of emerging technological developments, spot changes in the market, and modify their business strategy. The following are some particular suggestions of how Deloitte could use new technologies:
- Robotic process automation (RPA): RPA enables staff to focus on more strategic work by automating routine, low-value tasks. This can lower costs while enhancing production and efficiency for Deloitte.
- Artificial intelligence and machine learning: These technologies can be utilised to drive predictive analytics and assist Deloitte in spotting emerging trends. When deciding where to direct its resources, the company can use this to help them make better choices.
- Quantum Computing: Complex issues that are beyond the capabilities of conventional computers can be solved using quantum computers. This might aid Deloitte in creating new goods and services or enhancing already existing ones.
- Metaverse: A virtual environment that can be visited online is called the metaverse. It might be applied to cooperation, training, and simulation (Sazonova et. al. 2022). Deloitte might make advantage of this to give staff members new opportunities for education and collaboration.
- Extended Reality: A technology known as extended reality (XR) combines augmented reality and virtual reality (AR). Utilizing this, immersive experiences may be produced that can be utilised for marketing, teaching, and other purposes.
Justification and analysis of the technologies:
Deloitte has the ability to employ technologies like robotic process automation (RPA), artificial intelligence (AI), quantum computing, and extended reality (XR) to boost productivity, efficiency, and competitiveness. RPA may automate routine, low-value operations, freeing up staff members to concentrate on more strategic work. In addition to lowering expenses, this can help Deloitte increase production and efficiency.
Predictive analytics powered by AI and quantum computing can assist Deloitte in seeing future trends. This can be utilised to assist the organisation in choosing where to concentrate its resources more effectively.
Moreover, the internet is used to reach the virtual world known as the metaverse. It might be applied to cooperation, training, and simulation. Deloitte might make advantage of this to give staff members new opportunities for education and collaboration. Although, a technology called XR combines augmented reality (AR) and virtual reality (VR) (AR).
Utilizing this, immersive experiences may be produced that can be utilised for marketing, teaching, and other purposes. Deloitte has the potential to leverage each of these technologies to advance its operations. It’s crucial to remember that the organisation will need to carefully assess which technologies are most suited for its requirements and determine how to make the most of them.
Conclusions
To maintain its competitiveness in the market, the CDO of a huge company must make adjustments. These modifications have been recognised and suggested by the digital transformation expert. In conclusion, the CDO should implement these suggestions in order to maintain the Deliotte company’s performance as well as the New Trend for Digital Agility.
References
Deloitte, S.L., (2013), December. Deloitte. In Meeting on March (Vol. 30, p. 2077).
Patil, M.R., Suresh, M., Kumaraswamy, S. and Kukreja, G., (2022). Business agility in technology internet of things projects. Journal of Decision Systems, pp.1-25.
Roy, R., Stark, R., Tracht, K., Takata, S. and Mori, M., (2016). Continuous maintenance and the future–Foundations and technological challenges. Cirp Annals, 65(2), pp.667-688.
Saputra, N., Sasanti, N., Alamsjah, F. and Sadeli, F., (2022). Strategic role of digital capability on business agility during COVID-19 era. Procedia Computer Science, 197, pp.326-335.
Sazonova, M.V., Kazakova, N.V. and Zemlyanskaya, N.B., (2022). November. Trends in the digital transformation of the Russian education system in the new technological and economic order. In AIP Conference Proceedings (Vol. 2647, No. 1, p. 040010). AIP Publishing LLC.
Shahiduzzaman, M. and Kowalkiewicz, M., (2018). Digital organisation: A value centric model for digital transformation. In AOM Specialized Conference: Big Data and Managing in a Digital Economy (pp. 1-1).
Shen, Y., (2018). Strategic Audit: Deloitte.
- Wade. (2016). [Online]. [Accessed through]: < Digital business agility and workforce transformation (imd.org) >
