The Inevitable Challenge of Digital Turbulence
In an era where digital transformation dictates the pace of market dynamics, understanding the nuances of navigating this landscape is vital for every leader.
Authors: The Pioneers Behind the Book
‘See Sooner Act Faster’, authored by George S. Day and Paul J. H. Schoemaker, emerges as a guiding beacon in this turbulent digital ocean. This book encourages leadership teams to strengthen their companies as they transition from traditional to digital methods. delving into the insights, let’s appreciate the expertise of the authors. George S. Day, an esteemed Professor Emeritus at the Wharton School, is renowned for his contributions to marketing strategy. His co-author, Paul J. H. Schoemaker, a pioneer in decision sciences, has significantly influenced strategic decision-making with his extensive research. If you would like to know more about this topic, here is the link to the paper written by the authors. It offers a deeper insight into their vision and enlightening article: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3916439.
Core Concept: The Essence of Vigilance
At the heart of this book lies the concept of vigilance – an organization’s capacity to sense, probe, and interpret weak signals from both internal and external environments. Vigilance is not just about being watchful; it’s about possessing foresight that trumps rivals. A prime example is Novartis, which outshone others by equipping its sales team with a real-time digital platform for medical expertise access.
Real-World Relevance: Facing Digital Realities
The book stresses that vigilant organizations can identify risks and opportunities sooner, positioning themselves for prompt action. Being curious, candid, and concerned for long-term welfare is crucial for organizations that want to identify risks and opportunities before their competitors. For instance, the book cites the example of major hotel chains missing consumer trends that led to the rise of Airbnb, highlighting the cost of poor vigilance. Another fascinating case is Mattel, which initially missed the augmented reality (AR) wave signaled by the success of Pokemon GO. Such examples underline the necessity for businesses to integrate digital advancements into their strategy proactively.
Digital Integration: Leveraging Technological Advances
‘See Sooner Act Faster’ delves into the complexities of the digital domain. The convergence of technologies, declining costs, and the emergence of new platforms create digital turbulence. Leaders must harness these digital capabilities to safeguard their organizations, as exemplified by Facebook’s internal database tracking potential rivals and startups.
Strategic Leadership: Anticipating Opportunities and Threats
The book shows that strategic leadership is critical in anticipating opportunities and threats from digital and market turbulence. It highlights the importance of attention, new perspectives on speed, and fostering vigilance capabilities to enhance agility, with Adobe Inc. serving as a notable example.
Personal Insights: The Need for Digital Awareness
I think ‘See Sooner Act Faster’ is more than a business book; it’s a roadmap for the digital era. It illustrates that keeping abreast of technological trends is crucial for survival. The authors dive into vigilance in the context of the digital transformation strategy by underlying that companies fail to adapt to risk obsolescence. In conclusion, ‘See Sooner Act Faster’ brilliantly captures the essence of strategic leadership in a digital world. It’s a must-read for leaders navigating the choppy waters of digital transformation. The book is a direct call for vigilance, agility, and foresight in an age where change is the only constant.
Aysegul Sakici
Global Business Operations & Support at Sanofi / Digital Marketing & Business at MBADMB - EFAP