All companies have to adapt to meet the challenges of business if they want to survive against the global economic changes, business competition, new regulations, technological disruptions and especially the expectations of its customers. In order to achieve their goals and develop their capacities for innovation, they must have flexibility to strategically rethink everything every so often and be able to make the necessary changes quickly. In addition, traditional industries are being surprised by new business models that rethink the usual services and products. In many cases as a result of the application of new digital and disruptive technologies that they innovate changing traditional product or service getting a quick success. The reason for the success is justified by the answer given to a need (in many cases it is an invented need) that consumers applaud satisfaction. For example, many companies have affected their businesses by immersion of new business models such as Whatsapp with its phone calls causing a change in the telecommunications industry, or new companies like Uber, Airbnb or Netflix that have revolutionized the market of the Transports, Rental and Audiovisual industries, respectively.
This fast and challenging business innovation requires companies to transform themselves rethinking their current business models to be competitive and survive. This fact is confirmed by Gartner when he says that 25% of businesses that lose competitiveness every year comes from its digital incompetence. We are in a Digital Revolution where disruptive technologies (Social Networks, Mobility, Cloud Computing, Big Data, Internet of Things, Smart Cities, Industry 4.0 ...) are the trigger for the progress of organizations, social progress and the new economy. Companies that effectively manage digital technology can expect to earn in: a better customer experience and engagement, streamlined operations and new lines of business models. But if they do not make a digital transformation using the disruptive technologies, they will disappear as they will not be competitive.
According to KPMG’s 2016 Global CEO Outlook study, 8 out of 10 Spanish CEOs say that innovation to develop new products, improved processes and increased competitiveness are at the center of management strategy. Three priority issues in the personal agendas of executives worldwide. In a context of automating numerous processes and greater predominance of technological tools, the development of the team’s skills is particularly relevant. Companies are finding several challenges to achieving their strategic objectives: the transformation is a challenge, business agility is critical to the delivery of digital transformation, and the internal complexity of the organization undermines success.
A restyling of Business market will occur with amazing speed by the digital transformation of enterprises taking the customer at the center of activity as the main strategic priority. Digital Transformation refers to the use of digital technologies to achieve new business models with disruptive improvements in the organization in order to be more competitive, increase revenue, increase efficiency and get a greater customer (or citizen) satisfaction.