ACCENTURE IDENTIFIED FOUR KEY TAKEAWAYS FOR BUSINESSES PLANNING TRANSFORMATION :
Transform the core business to provide fuel for growth by identifying what ’ s needed to stay viable and increase profits .
Grow the core business to fuel growth in the incumbent business model by identifying what ’ s needed to drive top-line growth .
“ Digital capabilities are critical to meeting the challenge of digital disruption successfully . We believe that incumbents need to consider and drive this ‘ rotation to the new ’ as a conscious and deliberate act of renewing and transforming their core business , while growing into new businesses and services .” In a separate Industry 4.0 study , recently carried out by Accenture , the percentage of transport and logistics companies that rated themselves ‘ advanced ’ on digitisation was just 28 %, so there ’ s still some way to go .
Grow the business by identifying potential new directions and removing obsolete business services .
Manage the pivot to get the timing , scale and scope of required investments right .
Allied to this , the report findings highlighted no incumbent can afford to postpone the move to digital : “ Over the next three to five years , a combination of new competitors , rising customer expectations , and a shift in global trade routes will force traditional intermediaries to transform – or lose relevance .”
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