The innovator's imperative : rapid technology adoption for digital transformation

The pace of technological change is accelerating, hyper competition is growing, opportunities for business model disruption are exploding, and comprehensive cloud delivery is readily available. These factors challenge every aspect of business technology strategy. **The Innovator’s Imperative: Rapid Technology Adoption for Digital Transformation** prepares twenty-first century businesses leaders for competing and leading in this disruptive digital environment. Five years of research conducted by the authors suggests that leading companies have all but abandoned the requirements analysis and modeling best practices of the twentieth century. Accordingly, the authors put forth the __innovator’s imperative__ that contends: __> All companies wanting to be competitive should adopt emerging and disruptive technologies as quickly as possible, and in many cases, immediately. > >__Technology is driving business strategy, and companies are rethinking their technology strategy, especially the governance that determines how and why technology investments are made. Based on their research the authors have developed a five-step framework for digital transformation: 1. Model and simulate 2. Identify high-leverage opportunities 3. Prioritize transformational targets 4. Identify digital opportunities 5. Find courageous leaders The book explains each of these steps to guide business leaders in architecting digital transformation projects according to their organization’s market positions, budgets, objectives, and corporate culture. Hyper-competitive, disruptive companies are jumping across technology adoption phases without regard to any phasing whatsoever. Companies focused on digital transformation often adopt emerging technologies immediately. They have become early adopters of technologies that can impact existing―and create whole new―business models and processes. This book examines this jump into new technologies, processes, and business models to prepare twenty-first century business leaders to make that leap. Cover 1 Half Title 2 Title Page 4 Copyright Page 5 Table of Contents 6 EXECUTIVE SUMMARY 10 ABOUT THE AUTHORS 26 CHAPTER 1: TECHNOLOGY ADOPTION AND DIGITAL TRANSFORMATION 28 Emerging Technology and Digital Transformation 33 Step 1: Model and Simulate 35 Step 2: Identify High-Leverage Opportunities 35 Step 3: Prioritize Transformation Targets 36 Careful Modeling 37 Leveraging → Prioritization 38 Keep IT Real 39 Step 4: Identify Digital Opportunities 40 Step 5: Find Courageous Leaders 41 Profile the Audience 43 Stick to the Business 43 Clarity—at 500 Feet 44 Consistent, Relevant, Templated Agenda 45 Partners, Never Students 45 A Growing Threat 45 CHAPTER 2: PHASED TECHNOLOGY ADOPTION IN THE TWENTIETH CENTURY 50 Traditional Technology Adoption Models 51 The Bass Diffusion Model 51 Diffusion of Innovations 53 The Gartner Hype Cycle 58 The Obsolescence of Traditional Technology Adoption Models 61 Replacement Argument 1—A Decrease in Change Agent Headaches 62 Replacement Argument 2—Requirements Testing Is Over (and for Good Reason) 63 Historic Strategy Formation 65 Crossing the Chasm 66 The Innovator’s Dilemma – Plus Solution 67 CHAPTER 3: RAPID TECHNOLOGY ADOPTION IN THE TWENTY-FIRST CENTURY 72 Findings 75 Statistical Analysis 92 The New Normal 92 CHAPTER 4: THE TECHNOLOGY-DRIVEN ENTERPRISE 94 Accelerating Consumerization 95 Technologies Available for Immediate Adoption 96 Competitive Fear 97 Digital Transformation 97 Participatory, Shared Federated Governance 97 Postfederated/Decentralized Technology Adoption and Delivery 99 Agile Technology-Enabled Business Models and Processes 100 Continuous, Permanent Digital Transformation 101 Governance! 102 Technology-Driven Opportunities 105 Operational and Strategic Opportunities 105 Rent as Much as Possible—and Eventually Almost Everything 106 Bring-Your-Own-Device, Thin, Mobile and Wearable 108 Big (Structured and Unstructured) Data Analytics 109 Mine Social Media 110 Keep Technology Open 110 Know Where Everyone Is 112 Track, Pilot and Deploy Emerging Technology 113 Crowdsource 114 Federate 114 Assess, Refresh and Relocate Technology Talent 115 Reality Checks 116 Sources of (Temporary) Worry 116 Most Important Management Concerns 117 What Keeps Technology Leaders up at Night 117 Where the Money Goes 118 Spending Trends 118 More People (But Less Security) 119 Chief Information Officers Lifestyle 119 From Therapy to Adoption to Transformation 120 The Technology-Driven Enterprise 120 CHAPTER 5: FORWARD GUIDANCE 122 What’s Happening? 123 Enterprise IT Is Dying 125 Birth of Digital 126 Digital Transformation Skills and Competencies 127 Digital Transformation Readiness 129 Skills and Competencies for Digital Transformation 129 Filling the Gaps 133 Good Technology Clusters 134 Intelligent Systems Technology 135 Interaction Technology 135 Small Software Technology 135 Sensor Analytics Technology 136 Cyber Security Technology 136 Bad Technology Clusters 138 Very Big Software 138 Cloud Commodities 139 Hardware Fulfillers 139 Infrastructure Consultancies 140 Enterprise Data Bases 141 Transformation-Ready Industries 142 Insurance 142 Realtors 143 Banks 144 Professionals 145 Politics 146 So What? 147 The Innovation Challenge 147 Wake up, Smell the Technology and Transform 151 APPENDIX A: TECHNOLOGY ADOPTION SURVEY 152 APPENDIX B: INTERVIEW QUESTIONS AND SELECTED RESPONSES 158 APPENDIX C: STATISTICAL TESTS 162 BIBLIOGRAPHY 170 INDEX 176 "The pace of technological change is accelerating, hyper competition is growing, opportunities for business model disruption are exploding, and comprehensive cloud delivery is readily available. These factors challenge every aspect of business technology strategy. The Innovator's Imperative: Rapid Technology Adoption for Digital Transformation prepares twenty-first century businesses leaders for competing and leading in this disruptive digital environment. Five years of research conducted by the authors suggests that leading companies have all but abandoned the requirements analysis and modeling best practices of the twentieth century. Accordingly, the authors put forth the innovator's imperative that contends: All companies wanting to be competitive should adopt emerging and disruptive technologies as quickly as possible, and in many cases, immediately. Technology is driving business strategy, and companies are rethinking their technology strategy, especially the governance that determines how and why technology investments are made. Based on their research the authors have developed a five-step framework for digital transformation: Model and simulate; Identify high-leverage opportunities; Prioritize transformational targets; Identify digital opportunities; Find courageous leaders. The book explains each of these steps to guide business leaders in architecting digital transformation projects according to their organization's market positions, budgets, objectives, and corporate culture. Hyper-competitive, disruptive companies are jumping across technology adoption phases without regard to any phasing whatsoever. Companies focused on digital transformation often adopt emerging technologies immediately. They have become early adopters of technologies that can impact existing--and create whole new--business models and processes. This book examines this jump into new technologies, processes, and business models to prepare twenty-first century business leaders to make that leap"--The publisher Technology Adoption : Digital Transformation -- Phased Technology Adoption In The 20th Century -- Rapid Technology Adoption In The 21st Century -- The Technology-driven Enterprise -- Forward Guidance -- Appendix A: Technology Adoption Survey -- Appendix B: Interview Questions & Selected Responses -- Appendix C: Statistical Tests -- About The Authors -- References. Stephen J. Andriole, Thomas Cox, Kaung M. Khin. Includes Bibliographical References And Index. Content: Technology adoption : digital transformation -- Phased technology adoption in the 20th century -- Rapid technology adoption in the 21st century -- The technology-driven enterprise -- Forward guidance -- Appendix a: technology adoption survey -- Appendix b: interview questions & selected responses -- Appendix c: statistical tests -- About the authors -- References.