Doug’s Digital Transformation Journey: Gaining Insight

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May 4, 2019
10:33 am

‍Now that Bâton Global and Doug were beginning their journey, it was time to begin Insight, which would allow the group to gain a greater understanding of the organization’s world. Before transformation could begin, they needed to establish a shared understanding of the internal and external environments. The group could then determine how to deploy the company’s current resources to make WealthArrow a digital leader within the evolving industry. This involved gathering knowledge from various sources both inside and outside the organization.

They started in the Sales department, hosting a series of meetings between with B|G, Doug, and Colin, WealthArrow’s Director of Sales. The first objective was to identify their main competitors in the market. Colin was able to provide a long list of companies, many of which Doug had never heard of before. He was surprised to see how much the competition had grown since his early days in the field. B|G took Colin’s list of competitors and began conducting market research. They gathered an abundance of information on these companies, focusing on various aspects including how they leveraged their data and how they provided digital solutions to their customers. They also looked at the possibility of new entrants and disruptors in the industry, potential substitutes, and the changing power of customers within the market. B|G concluded the external research by conducting a PESTLE Analysis, which identified macroeconomic trends including political, economic, social, and legal, further refining their understanding of the external environment.

The next step was conducting an internal analysis, which meant getting into the weeds of WealthArrow as a business. Understanding the organization’s resources, capabilities, and capacity would lead to a clearer image of their internal environment. After bringing in the heads of each department along with a variety of their team members, B|G learned about the organization’s key differentiators and how these departments varied from one another. They could then present to Doug a clear and concise summary of findings across the organization, giving Doug and WealthArrow and objective appraisal of the current state of the organization. Bâton Global and Doug tied together the internal and external analysis by conducting a SWOT Analysis, diving into the key strengths, weaknesses, opportunities, and threats of the organization.

Knowledge of the internal and external environment plays a key role in assessing the current state of the organization, and Doug is now a few steps closer to initiating the organization’s digital transformation. Now that they had an understanding of the organization from the inside and out, it was time to shift perspectives and peak through the lenses of their  customers.

Learn how Bâton Global can help you gain a profound understanding of your world.

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May 4, 2019
10:33 am
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