Re-invention for digital leadership
Digital disruption may be driven by new entrants, but incumbents are executing some amazing self re-invention in response – redefining what business they’re in, transferring their core competencies to new areas, and setting up digital units that compete with their mainstream business. Here are four inspiring examples of self re-invention for digital success.
Small, cloud-based companies like Molecular Health are acting as a catalyst of transformation for large, established healthcare and pharmaceutical companies. They’re using secure, compliant cloud computing to push forward the frontiers of precision medicine.
Don’t think of yourself as tied to one industry – reapply your core competencies in new ones. Discovery moved from healthcare, to insurance, to banking, using data analytics to extend the customer relationship.
Even the largest financial services organisations can transform themselves into digital leaders. Barclays’ approach was to think the unthinkable, move boldly before it needed to, and not be afraid of disrupting itself.