#34 Harnessing Digital Disruption with Pascal Dennis and Laurent Simon - part 1 of 2.

Proudly brought to you in association with S A Partners, a world-leading business transformation consultancy.IntroductionWelcome to episode 34, the first in a two-part series of the Enterprise Excellence Podcast. It is such a pleasure to have Pascal Dennis and Laurent Simon with us today. Pascal and Laurent co-author the new book "Harnessing Digital Disruption, how companies win with Design Thinking, Agile and Lean Startup". This book is timely, considering these uncertain times and the rapid digital and virtual advancements we are experiencing.Summary"Harnessing digital disruption" is set in Singapore. It is about a big company in big trouble trying to prevent obsolescence. It's a realistic story, describing the reality of change in difficult times. As gathered from survey results, the blockers to change and then their solutions feature in each chapter.The Digital Innovation TreeTwo strategic objectives (fruits) represent the top of the digital innovation tree.Low hanging fruit - core business, process innovation, lean digital journeys, enablers.Fruit at the top of the tree - igniting new growth, product innovation, new ventures, new digital offerings.In a manufacturing industry, the example is heavy farm machinery. Protecting core business would be finding the top ten customer journeys, eliminating the waste and hassle from the process, and identifying where automation and tech can help foster communication between farmers and customers. Igniting new growth would be developing a new digital platform, inviting the farmers and developers to a joint conversation. The developers would extract the data generated by the farming equipment. The farmers would have beneficial, detailed information about the soil and crop and reduction of maintenance costs. De-risking your transformation journey.So how do excellence and innovation happen?Pascal and Lauren take us to the three swim-lanes that will de-risk your transformation journey.Level 101 - the foundation, or soil - a Leadership Development ProgramLevel 202 - the trunk - network of pragmatic innovators, fostering radical innovation. Level 303 - fruits - delivering results fast - new capability from levels 101 and 202 is applied effectively through innovation projects and focused interventions.Transformation LighthouseA transformation lighthouse is then created, which is the pulsing heart of the transformation. In the lighthouse, leaders set a regular cadence, looking at the status of the pipeline of the innovation. They surface problems quickly, apply skills like innovation accounting to cull losing ideas and identify and invest in winning ideas. The management system encourages the right mindsets. Quotes07:07min So, on the one hand, you've got small players who are eating the lunch of the bank and the insurers. And on the other hand, you've got the big platform company like Google, Amazon etc. who are also entering gradually, in some pockets of financial services, specifically in the retail world. 07:54min The lean foundation was necessary, but it was not sufficient. That the rate of technological change was such that you could not rest on your laurels. So, I was very proud of my experience at Toyota and all the great senseis, but it wasn't enough. 11:18min So, how do we have the people at the top of the pyramid clearly understand what tech can do for their business. How do we help them frame constraints into opportunities? A typical example is open banking: Singapore is well ahead in that front.To learn more about what we do, visit https://enterpriseexcellencegroup.com.au/Thanks for your time, and thanks for helping to create a better future.