There is no map. There is no “one size fits all” solution. For each corporation, a tailor-made scenario/narrative needs to be designed. That is why bringing the startup culture into play is more effective.
Digital Transformation is a journey rather than a one-time project. Depending on the culture and the business model of each organization, different paths can be used to enable the organization’s transformation. By combining different actions and resources there are several different strategies that can be applied.
During that journey an organization can benefit from the startup ecosystem, either by directly working with its startups or indirectly learning from its entrepreneurs. Knowing the business models of the new digital economy, the agile methodologies used by startups and the latest trends in the design of digital services, will be the key factors to implement such transition. Startups turn the digital sphere into a powerful ally and have no legacy, neither bureaucratic nor typical corporate constraints standing in their way. These young companies are powered by digitalization, entrepreneurial spirit and agility to pivot swiftly.
Paths designed for transformation
Internal Evolution Path
Enhancing the internal strengths of an organization’s people by training them to new available tools and introducing them to new ideas and methodologies.
- Fast Track Course (selected employees are educated and then become internal ambassadors of the digital change for the company).
- Design Thinking / Hackathon Challenge (Creative problem solving methodology used to identify a real problem or set an internal challenge that addresses it)
- Internal Acceleration Program (a time framed program under the guidance of internal executives and external mentors)
Collaborative Transformation Path
A hybrid approach where external ideas and people are combined with the organization’s teams in order to improve adoption of new methodologies and enhance innovation.
- Fireside Chats (selected externals bring knowledge inside the organization and help exchange ideas in an ongoing process)
- Mentoring Program (selected executives and employees are paired with startups)
- Ecosystem engagement (company employees attend seminars and conferences and engage with selected startups)
- Reverse Acceleration (A founders first acceleration program, which helps the teams create a solution for a market need, within a specific time-frame)
External Adoption Path
Building external paths with the startup ecosystem for either co-developing with or directly acquiring new products and services that will help the organization’s expansion.
- Startup Scouting (focused on selected sectors according to the targeted market in order to find products or services that might benefit the company or its target audience)
- Hackathon Challenge (Targeting a real need of the company and attracting externals that can successfully address the given challenge and help innovation)
- Acceleration Program (A time-framed program that fast tracks progress and guides the development of the specific product or service)
- Monitoring Program (An ongoing process of monitoring the selected startups and their progress in order to help them develop their products or services in a way that is beneficial to the company)
See other ways in which Found.ation helps corporations follow the road to Digital Transformation: