Join getAbstract to access the summary!

Reinvent

Join getAbstract to access the summary!

Reinvent

Navigating Business Transformation in a Hyperdigital Era

Fast Company Press,

15 min read
10 take-aways
Audio & text

What's inside?

A thorough guide to successful digital transformation.

  • 0.5×
  • 0.75×
  • 1×
  • 1.25×
  • 1.5×
  • 1.75×
1×

Editorial Rating

8

Qualities

  • Comprehensive
  • Applicable
  • Concrete Examples

Recommendation

Building on themes of disruption from his previous books Lift and Transcend, Faisal Hoque emphasizes the urgency of organizational reinvention in the form of digital transformation. He warns that the process takes time and money, is fraught with risk, and usually fails. Fortunately, he provides a detailed roadmap to success, centered on meticulous planning, leadership, project management, and adaptability. Hoque stresses embracing relevant technology, gaining widespread buy-in across your organization, and considering the cultural changes success will require. He uses examples and illustrations throughout to guide you each step of the way.

Summary

Reinvention means transformation – digital transformation.

A successful digital transformation enables organizations to expand the scope of their abilities and how well they adjust and react to fluctuating markets, rivals, and customer needs. The digital technology at the heart of an organizational transformation encompasses the electronic methods, apparatus, and capabilities that enable the collection, storage, analysis, and reporting of large data sets.

Many nontechnical leaders don’t appreciate the scope, complexity, and continuous nature of digital transformation, or they mistakenly view it as a universal remedy for organizational flaws. Such incorrect assumptions partially explain the high failure rate of business reinvention. They also may account for millions of dollars wasted by companies implementing technologies that end up as “shelfware.”

Leaders need to understand the critical differences between digitization (turning analog information into electronic information) and digitalization (making business processes digital) and the act of digital transformation itself, which is implementing the business processes involved in digitization and digitalization...

About the Author

Faisal Hoque founded SHADOKA, NextChapter, and other businesses focused on fostering sustainable and transformational change. He is also the author of Lift: Fostering the Leader in You Amid Revolutionary Global Change and Transcend: Unlocking Humanity in the Age of AI. 

Comment on this summary