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Tag: business leadership

Why do SMEs resist Digital Adoption and how to overcome it?

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There is a common theme of small and medium-sized businesses being reluctant to the idea of digitising their business processes and infrastructure especially if they have physical products.

But little did they know what they were actually uncomfortable with is their leadership mindsets that were not conducive to change and innovation. The survey conducted by Deloitte in 2016 highlights the reasons that only 44% of business leaders prepare for such disruption despite 87% of businesses knowing they are going to get the hit of digital disruption at some point yet no action gets taken. A self-induced catastrophe!

Some of the common barriers to digital adoptions are as following:

Resistance to Change

This resistance to change is reflected in all levels of an organisation such as IT department where a lack of digital processes slows down the entire workflow, leading to slower delivery of secured projects, and lesser capacity to take on new ones.

Digitally maturing companies stay ahead of the growth curve and their workforce by actively engaging in risk-taking agile collaborations, partnerships and projects. Statistics showed agile organisations achieve 30% higher profitability and 37% faster growth than non-agile businesses.

This can be achieved if the benefits of the digitised process are effectively communicated to the company hand in hand with continuous training to foster culture where innovation is valued and change is not considered a huge discomfort.

IT capacity

IT performance can easily be jeopardised if the right training is not provided to IT leaders which effectively leads to a tunnel vision towards both short-term tasks and long-term goals.

So if IT team leaders are provided adequate training and investments are made in the overall IT structure, this can help make the business scalable, resilient and flexible.

Investment in continuous Training and Education

Digital adoption training and learning opportunities for senior-level management is a key factor that further translates into creating and fostering an overall company’s culture. Therefore, it is crucial for senior management to keep their knowledge in check and look out for training focusing on future skills, digital adaptability.

In our 2nd Module of Digital Adoption of Help to Grow Management Programme, we peel the concept and practical frameworks of Digital Adoption such as the role of digital leadership, stages of digital adoption and recognising where your business is at and many more. The session will be conducted by our Expert Speaker, Eugene Fisher.

About the Speaker:

As a transformation consultant and product manager Eugene has worked with C-suite leaders in start-ups to Fortune 50s drive growth by enhancing leadership capabilities, building innovative teams and launching new products.

He takes a pragmatic and design-led approach to delivering growth; a few recent projects include testing new business propositions for a convenience foods chain with 1.2k locations, helping a new team generate £10m of business value within one year of formation, and developing the enterprise strategy for a £1b retailer.

You can find out more about the programme here: Small Business Leadership & Management Certificate Training Courses UK (kingstonuniversitybusinesstraining.com)

Spaceship View for Business Leaders

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Serving twenty-four years as a NASA astronaut, Cady Coleman recently shared her profound learnings, how she stayed focused, managed stress and navigated working in cross-cultural teams in HBR podcast. Although these lessons have come from an astronaut, but they are significant lessons for SME leaders, owners and managers.

Dream on, be positive

As cliché as it may sound, Coleman thrived by keeping a positive outlook. In the podcast, she discussed having to encounter emergency simulations, drilling and remembering to keep curious about all that she did before the big space mission.

If we compare going to space with leading a business; think about what could possibly go wrong when you change the business model, sign a deal or tap into a new market. Cady Coleman reminds us to prepare ourselves with all possible outcomes with a positive mindset.

Cultivate a work culture where mistakes are shared

Coleman shared how NASA’s culture has shaped her views and how she approaches complex challenges at work. Owning up to one’s mistakes and sharing were important parts of Coleman’s growth journey at NASA.

It can undeniably hard to admit a mistake, but it also adds a pivotal value in overall work culture – she said, share your mistakes so all can learn from them.

This could bring an enormous amount of possible solutions, shared lessons and a sense of community that, we are in it together. It gives a sense of assurance that it is absolutely humane to go wrong sometimes; making mistakes and sharing them are critical components of a growth curve.

Create diverse cultural teams at the workplace

Coleman talked about cross-cultural team dynamics and the challenges she faced working with a diverse and international crew. She acknowledged that, although it was challenging but it was also a humbling experience to fully understand that we all bring different skill sets to the table. The main purpose was to be trained for the big mission and be fully equipped to tackle uncertainties.

This is how all organisations, big or small, should work together and create a diverse set of teams.

The unique perspective of interconnectedness through the lens of an astronaut, who was literally watching the earth, from space, affirms we are more alike than different and that we can work around differences if we continue to innovate and create.

The multi-cultural teams create an air of trust and space for innovation which goes a long way and to be a good business leader is to have a spaceship view, while also being immersed in day to day operations of your earth (business).

To learn more about how to scale your small business a up, lead high-performing and engaged workforce, manage operations and finances efficiently as a SME leader, join our next cohort: Help to Grow: Management Course | Kingston University (kingstonuniversitybusinesstraining.com)