Business Models for Value Creation Are Evolving Quickly ... Can You Keep Pace?
Dig In at this Bootcamp and You Will.
As business models for creating value continue to shift, new business strategies are constantly emerging, making digital innovation an ongoing imperative.
From software to automobiles, from healthcare to financial services, models for value creation and value capture are rapidly changing. Not surprisingly, even the most sophisticated firms are struggling to get digital transformation right. It’s easy for an organization to miss the point — digital transformation isn’t about technology. If it were, the path forward would be simple. Instead, it’s about strategy, economics and internal change.
Cutter Consortium’s Digital Transformation & Innovation Bootcamp is designed to get a team thinking analytically and strategically about how its industry is changing. It includes teams of 3-5 participants (representing business strategy and technology) from up to ten, non-competing organizations. The Bootcamp immerses an executive team in the challenges and opportunities digital transformation presents so that they can walk away with new ideas and strategies that have been vetted by other smart business leaders.
Going Beyond Strategy
Beyond strategy, the tough questions are about what you need to do internally to succeed. Executives understand that digital transformation involves a shift, perhaps from being a product firm to a platform company or developing services that completely change the way the organization interacts with its customers. But they tend to underestimate the organizational transformation that is required, and often fail to fully understand the business models and economics that are crucial to success.
At the Cutter Consortium Digital Transformation & Innovation Bootcamp, the full group digs into Harvard Business School cases, followed by a series of Sprints in which your team applies the knowledge gained from the business cases to your specific organizations. You’ll get feedback from the other teams, (recall they’re non-competitors). Execs from a different industry bring a fresh perspective, enabling you to gain insights about your situation that you’re likely to miss.
Cutter Consortium Fellow, Professor Karim Lakhani of Harvard Business School, will skillfully guide you and your team through a 2-day examination of how digital innovation is transforming our business landscape. Discussions will focus on what is truly unique about the new digital strategies that are changing our environment for both new and established organizations and the strategies that might be right for your organization. Prof. Lakhani’s advice is informed by the deep, hands-on expertise that comes from consulting to top firms globally; writing the landmark cases on digital transformation, open innovation, crowd sourcing for innovation, and doing prize-winning research in innovation.
The Digital Transformation & Innovation Bootcamp is designed to help executive teams upend the reflex thinking that prevents essential change, take a fresh and creative look at opportunities, and dive deeply into what they need to do to succeed. If your firm has a solid plan in place, this is an opportunity to stress test its viability, break through any groupthink dynamics that may be blinding you to your plan’s shortcomings, and thereby vastly improve your likelihood of success. If you are beginning the digital transformation journey, the Bootcamp will jumpstart the process, allow you to benefit from executive insight different from your own, and give your strategy a solid grounding—greatly increasing your odds of a positive outcome.
The risks are high with any transformation effort. Time is scarce as upstart, nimble competitors challenge the old order. We welcome your participation. The next Cutter Consortium Digital Transformation & Innovation Bootcamp will be held October 25-27, 2017, in Wellesley, Massachusetts. To receive more information about this session — and details of other upcoming sessions — please complete the form below or contact us at firstname.lastname@example.org.
This issue focuses on key topics of interest for financial services organizations, namely equity crowdfunding, legacy systems migration, robo-advisors, test outsourcing, and refining the reconciliation process.
This Advisor presents an overview of improving Agile techniques and practices by using design thinking within the Agile space and describes three techniques from design thinking methodologies that tend to yield benefits to Agile practitioners.
The existence of a digital backbone in an organization means that anyone aspiring and planning to transform different parts of the enterprise can leverage the digital backbone in a consistent and sustainable way, ensuring that each transformation effort connects and leverages a common platform. Digital transformation leaders are starting to realize that a powerful digital services backbone to facilitate rapid innovation and responsiveness is key to successfully executing on a digital strategy.
Can a method like EVM, developed to control projects with well-defined objectives, be applied to control product development initiatives that evolve continuously toward a “moving target”? In an Agile environment, we are faced with the dynamic evolution of a finite boundary of integrated scope, cost, time, and resources; this finiteness — essential for business management and decisions — is the cradle for project management techniques, tools, methods, and frameworks. The EVM method was first developed to help with managing complex R&D projects mostly characterized by an unstable, volatile, and evolving scope. It is therefore no surprise that EVM applies to Agile projects.
It’s a pleasure for me to introduce the first of two special issues of Cutter Business Technology Journal (CBTJ) showcasing the thought leadership and cutting-edge research and development (R&D) being done in State Street Corporation’s Advanced Technology Centres in Europe, the Middle East, and Africa (EMEA) and Asia Pacific (APAC), in partnership with University College Cork (UCC) and Zhejiang University (ZJU), respectively. The articles in this issue represent a small sample of the output from the R&D undertaken in these centers, which combine academic excellence with real industry impact.
Every business must deal with crisis, risk, and compliance challenges. Teams chartered with addressing these challenges are often split across business units and regions, which fragments crisis, risk, and compliance management efforts. Business unit silos and related complexities obscure ecosystem transparency, which in turn constrain an organization’s ability to identify risks, assure compliance, and prevent and disarm crises. Business architecture delivers business ecosystem transparency as a basis for improving a business’s ability to collectively address challenges related to crisis, risk, and compliance.
Organizations are using blockchain to create new business models — exploiting its capabilities for optimizing contract management, financial transaction management, and identity management.
For technology-dependent products, companies, institutions, and even societies, sustainability depends on learning how to manage technical debt. Like most transformations, incorporating new practices into our organizations will likely be an iterative process. We already recognize the problem, and researchers are making progress, albeit mostly on technical issues. This Executive Update proposes a policy-centered approach to the problem. It begins with a principle that can serve as a guide for constructing technical debt management policy, and then shows how to apply that principle to develop nine recommendations that enable organizations to manage technical debt effectively.
Agile methodologies, however popular they are, bring their own sets of “smells” and anti-patterns to the table, sometimes causing irreparable damage to the team. While the sources of these smells are many, one of the primary culprits is the mindset that treats Agile as “yet another methodology,” totally ignoring the cultural aspect. This article throws light on some of the prominent smells that are emerging of late in the Agile world.
If you start changing an organization toward an Agile mindset, there’s no real end. Agile is about creating an organization of continuous learning and the transformation is done when there is nothing new to learn, which will probably be never. This puts an enormous challenge on middle management.
The articles in this issue present perspectives and ideas on business transformation in the digital age. We hope they will inspire and encourage you to visualize the likely future of business in your domain and to explore the opportunities it presents. Finally, we hope their insights will help you identify suitable transformation strategies and plans and, if needed, choose viable collaboration models for partnering with startups and other firms in your digital business efforts.
Beyond buzzwords, what we are seeing is a seismic shift in the role of technology in organizations. Technology is more and more embedded in everything we do as we move into an increasingly hyper-connected digital world, a world in which technology is driving significant social, organizational, and industry change.
In this on-demand webinar, you'll discover the strategic and tactical opportunities made possible by Digital Data Streams and the opportunities for improved customer experience made possible by DDS.
At the Cutter Digital Transformation & Innovation Bootcamp, Cutter Fellow and Harvard Business School Professor Karim Lakhani talked about digitally-driven disruption of traditional business models for value creation and capture, discussing platform models like Facebook and Twitter. To date, Twitter has clearly done a good job “creating value.” But unlike Facebook, it continues to struggle with the capture part of the equation.
Social collaboration is not about technology. It’s about connecting people, and it’s changing the way business is being conducted. Similarly, gamification is not about games. It’s about motivating the personal and professional behaviors that drive business value. Together, social collaboration and gamification help companies reap great benefits — among them, the ability to deepen customer relationships, drive operational efficiencies, and optimize their workforce.
Roadmaps have two key functions in strategy planning. The first is to outline planned architectural changes that will deliver the required strategies; the second is to outline alternative ways to achieve the same results.
Just as recent global events have given us reason to pause and reflect, the pace of technology emergence and disruption is proving to be a source of inspiration and uncertainty. Transitioning to a digital world is front-of-mind for many business executives, yet finding the right path is an ongoing challenge. So we asked Cutter’s team of experts for their insights on some of the technologies, trends, and strategies that will be relevant in 2017 and beyond. In typical Cutter Business Technology Journal fashion, our call produced a wide range of opinions and reflections worthy of consideration as you chart your business technology journey for the new year.
Artificial general intelligence (AGI) is currently emerging as an area where recent developments are likely to have a major impact on the way organizations do business, societies organize themselves, and even on how we address values and ethics.
The fact is that AGI already exists in our daily life. A common example is the GPS systems present in many new cars manufactured today; and let’s not forget the drones being used to deliver pizzas and cars that drive themselves. While automatic pilots have been used in commercial planes for quite some time, what AGI is about to offer to general business and human activity is well beyond what most of us have seen so far.
2017 is going to be a year of strange winners, and perhaps the strangest of all will be a giant leap away from technology and back to solutions that don’t rely on 24/7 connectivity. With the onslaught of major hacks and Facebook embarrassment, the antitech crowd may have its best year in decades.
One of the most prevalent blockchains in the world, Ethereum, is poised to switch from a proof-of-work (POW) algorithm to a proof-of-stake (POS) algorithm, likely in 2017, with the release of the Casper codebase. Why does this matter? Because blockchain technology is becoming increasingly relevant and prevalent in businesses across the globe. It holds great potential to disrupt how businesses perform basic transactions, from payments, to programmable, self-executing contracts, to identity verification.