Why isn’t digital transformation not just advisable but necessary?

For one important reason – Market Leader vs Follower

Remember, you have to be either one of them – Leader or a Follower.

Digital transformation has started nearly a decade ago and it is moving towards it’s peak. So, you cannot be a Market Leader. A leader is basically takes the proactive step and initiates something in their own industry. Just check if in your industry already the businesses have started Digital Transformation – Most probably the answer is Yes.

Now, A follower is someone just realizes that the industry is moving in a particular direction and adjust theirs’ also to follow. This is also not bad. It is not every one’s cup of tea to be a leader. It is a very risky and costly decision too.

An easy relatable example would be Mr. Ambani’s JIO. It was a disrupting technology that shook the telecom sector and all existing incumbents. So, basically Ambani was a Leader leading the way. ( Fun Fact – as Reliance is mainly in to OIL business, they have named the telecom business as JIO. Just look at the word OIL in a mirror and see the word becoming JIO ).

You can even call this Blue ocean vs Red ocean strategy. Simply putting it, Red ocean is where all other companies killing each other hence ocean is red where as Blue ocean is where JIO is with it’s new technology and hence the ocean is blue.

What if you are neither a Leader nor a follower?

This part answers the question why exactly Digital Transformation is not just advisable but necessary. Now, what if you are not a leader and not a follower? You will all be yourself alone with no improvement in your business and even loose out on business.

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