Digital Transformation and Operational Efficiency

Executive summary

Digital transformation has crucial impacts on the company activities, where the operational efficiency is enhancing over the period of time due to digitalisation of the organisational activities. The study focuses on digital transformation and its impacts on the organisational activities where it boosts competitive capabilities and enhances suitable leadership style in long run. As per the analysis, digital transformation enhances the skill and organisational capabilities where the employees can perform efficiently in less time. Additionally, the marketing strategic planning and operational efficiency are contributing factors where technological innovation further provides an opportunity to the businesses to gain high competitive advantage. For those needing assistance, seeking marketing dissertation help can provide insights into effective strategies. Additionally, through this study, it will be possible to identify the issues of digital transformation of the organisation and analysing the ways through which the companies can ensure successful digitalisation of the business.

1) What is the main scope of your company?

The scope of the company unlike most other energy supplying companies is to make homes of the customers smarter and energy-efficient that demands less cost to run. The business works on supplying the houses with as little gas and electricity as possible, while providing residents with recommendations of products that can reduce their energy bills. The business wants to implement the existing knowledge about the customer's residence and energy consumption coupled with clever analysis that will work on estimating how much the customer could save on each product range. Depending on the setup in home the business can work on providing the products and save money of the customers.

1.1) What should your company be investing in?

Like any other energy-saving company, Igloo should work on advertising and marketing strategies to attract investors for business. The domain of saving energy demands of a wide range of research. The investors need to be pulled in such a way that they can give enough resources and time to the energy saving companies to look for innovative methods that work on reducing the household energy bill. Additionally, the chosen company should work on producing strong marketing strategies, which can further educate the people to up for energy saving alternative to reduce the bills

1.2) How digital technologies disrupted/will disrupt your company?

Technology often brings about innovation which is important in ensuring competitive advantage of the organisation. Here are the possible pros of implementing digital technology within the company:

Technology can work on improving the customer relationship and sales statistics. If the current business chooses to invest in digital technology for making the products and services sustainable, the consumers are likely to appreciate the effort and bring more sales and better profit margins to the business. Additional work on reducing the waste and cost by leaving the company with a better position to concentrate on future goals. Technological change in the existing process of saving energy and eliminating the possible bottleneck in production reducing employee idle time. Digital technology can most importantly boost the position of the business in the market by getting ahead of the possible upcoming scope. In this way the business is not forced to change rather it can work on adjusting to the changes and differentiate themselves from that of the competitors.

2) How does your company create and capture value?

The business can capture value by pricing appropriately and monetising uses so that they can pass on that value to the possible shareholders by providing the scope to sell more valuable shares while distributing the profits through dividends. However the business is highly innovative and under certain conditions can capture more value by making use of innovation and implementing a strategy (Bleicher and Stanley, 2016).

2.1) What is the business model of your company?

The chosen business operates on a subscription business model based on the idea of selling services and products in return for early monthly recurring subscription revenue. Essentially the subscription business model focuses on where revenue is generated so that a single customer can make multiple payments for prolonged use of goods and services. Is the companies enough along in the way of development this model can work on generating revenue on a continuous basis and can even benefit from the customers who are too lazy to cancel the subscription.

2.2) How else can your company create and capture value?

Specific conditions forms can capture more value through the process of innovation by making use of a strategy that patents innovation and owning or controlling the strength of the legal appropriability environment (Frank et al., 2019). The business of the chosen organisation is solely based on the consumer base. It is important for the business to create and capture the consumer value which can be done by understanding the possible factors that drive value for the customers while having a clear idea about the value proposition of the business. In addition to that the business needs to identify the possible segments and customers where they can create more value relative to competitors within the same industry, focusing on price skimming strategy and investment most valuable to the customers.

3) How digital transformation impacted your company’s ecosystem (products, customers, distributions)?

Digital transformation made the customers increasingly aware about the importance of saving energy and switching to sustainable methods. It is believed that with the advent of digital transformation customers realise the importance of saving in energy and investing in other sources. Increasing our customer work on purchasing services and products help the company to boost their revenue margins. The digital transformation additionally works its way into the operational management of the company. change in digital transformation the company was obliged to make modification in the existing line of products and services which promises better savings on energy and a sustainable ecosystem

3.1) What is the main focus of your company (product or platform)?

The company initially concentrated on creating a platform that promotes their products and services. However, the customers were highly aware of the possible advantages of making use of a sustainable source of energy; there was a shift of concentration from platform to product. Currently the company works and focusing on the range of products and services, so that they can work on forming a large base of customers who are willing to avail services at regular intervals.

3.2) What are the main digital transformation initiatives of your company?

Digital transformation is incorporated within the products of the company. Examples of smart metres works and replacing the existing electricity and gas metre while making it easier to manage the energy being used. The consumer need not submit readings anymore as it will be carried out automatically providing the consumer with an estimated bill. The method additional allows the consumer to keep a track about the uses of energy (Kitsios and Kamariotou, 2019).

3.3) If there is no platform, how can your company move toward building a platform?

Like every business organisation this company should start with the aim of for studying and interaction between the consumers, producer and the participants. Exchange of value promotes the attraction of users to the platform and the platform needs to create a value unit.

3.4) If there is/are platform(s), what are they?

Currently the business runs an on demand service platform while connecting waiting time sensitive customers with the independent service provider. The specific platform allows interaction between the service providers and customers enabling transactions on this platform to the use of a robust technological framework (Kraus, Kraus and Maslov, 2019).

4) How would you compare digital transformation initiatives of your company vs its competitors?

The digital transformation initiative of the chosen company works on saving energy, primarily concentrating on enhancing existing levels of services. The competitors are making use of digital transformation to track consumer behaviour and analytics for ensuring better profit margins in the business. Few companies have additionally implemented digital transformation promising Meta financial results to the company (Mihardjo et al., 2019).

4.1) What are the digital capabilities of your company?

Digital technologies affect the way a person lives and works. Digitalization helps in enhancing the existing level of safety, productivity and sustainability and accessibility towards energy systems around the globe. However it raises new security and privacy risk while disrupting the existing market. Incoming decrease digital technologies answer to make energy systems connected intelligent, reliable, sustainable and efficient. Impeccable advance towards data analysis and connectivity allows implementation of smart appliances with shared mobility (Aracil, Forcadell and Úbeda, 2018). A digitalised system of energy in the near future can work on identifying who needs energy and deliver it at the right time at lowest possible cost. In addition, digitization works on improving the level of safety and productivity making changes within the markets and employment. The influence of tremendous digital and advantages of the internet and their rapid deployment across the domain of energy gives rise to fundamental query of whether the human population is towards the cusp of a new digital era attempting to answer the fundamental question. The industrial sector has used automation and control for decades to maximize the quality and yields while reducing the use of energy (Wiprächtiger et al., 2019).

4.2) What are the leadership capabilities of your company?

Intellectual, honesty, self-awareness and accountability are the pillars of strategic leadership. Leaders are capable of innovating and inspiring change within a team while ensuring competitive performance in the business organisation. A company can work on influencing the customers about the importance of saving energy (Ma’rifat et al., 2019). The business in the current context can inspire people to embrace alternative sources of energy while saving the money spent on the energy system. Additionally the business has a vision which is highly customer centric, a different approach is limited in influencing and motivating the people in accepting changes in their lifestyle.

4.3) Where do you position your company (beginner, fashionistas, conservative, digital master)?

Beginner

5) What are the main challenges of your company in its digital transformation journey?

Digital technologies walking creating scope that develops business models and serve customers in innovative ways while ensuring operations within the organisation run smoothly. However there a series of challenges the company is subjected to while ensuring digital transformation within the business operations. Following are the possible risk of challenges that can be witnessed during the course of digital transformation:

Employee pushback is one of the prime challenges faced by companies during the course of any transformation (Ebel, Bretschneider and Leimeister, 2016). The employees the reluctant to embrace new technology making the force of resistance a stronger one lack of expertise to supervise digital transformation initiatives. It would be fair enough to state that there remains a low specific department within an organisation that addresses and supports digital transformation. Hence it can be quoted; lack of expertise is a major obstacle in digital transformation. Furthermore the chosen company is in beginner’s stage and there may be issues related to budget making it difficult for the company to implement digital transformation

6) How can you help/support your company on their digital transformation journey? In what capacity?

Training the employees as per the capacity and attracting investors can work on solving the possible problems of employee pushback and limited budget.

Conclusion

Igloo Energy is a fairly new company that needs to implement the market analytics for understanding the perspective of the customers. In all fairness, it can be conclusively stated that the business needs to make use of technology for expanding the existing business model and platform, promising better profit margins.

Reference List

Aracil, E., Forcadell, F.J. and Úbeda, F., 2018. Linking Corporate Social Responsibility with Business Model Innovation through Digitization. In Academy of Management Proceedings (Vol. 2018, No. 1, p. 14498). Briarcliff Manor, NY 10510: Academy of Management.

Kitsios, F. and Kamariotou, M., 2019. Service innovation process digitization: areas for exploitation and exploration. Journal of Hospitality and Tourism Technology.

Renz, M.K., 2019. Innovation in German SMEs and the influence of digitization: evidence from firm level data (Doctoral dissertation).

Mihardjo, L.W.W., Sasmoko, Alamsjah, F. and Elidjen, 2019. Digital transformation: a transformational performance-based conceptual model through co-creation strategy and business model innovation in the Industry 4.0 in Indonesia. International Journal of Economics and Business Research, 18(3), pp.369-386.

Bleicher, J. and Stanley, H., 2016. DIGITIZATION AS A CATALYST FOR BUSINESS MODEL INNOVATION A THREE-STEP APPROACH TO FACILITATING ECONOMIC SUCCESS. Journal of Business Management, (12).

Frank, A.G., Mendes, G.H., Ayala, N.F. and Ghezzi, A., 2019. Servitization and Industry 4.0 convergence in the digital transformation of product firms: A business model innovation perspective. Technological Forecasting and Social Change, 141, pp.341-351.

Ebel, P., Bretschneider, U. and Leimeister, J.M., 2016. Leveraging virtual business model innovation: a framework for designing business model development tools. Information Systems Journal, 26(5), pp.519-550.

Wiprächtiger, D., Narayanamurthy, G., Moser, R. and Sengupta, T., 2019. Access-based business model innovation in frontier markets: Case study of shared mobility in Timor-Leste. Technological Forecasting and Social Change, 143, pp.224-238.

Ma’rifat, T.N., Zarkasyi, A.F., Pramono, M.F., Arief, Y.S. and Muriyatmoko, D., 2019. ASEAN’s Regional Business Innovation Through Digitization of Supply Chain.

Kraus, N.N., Kraus, E.N. and Maslov, A.A., 2019, December. Theoretical and methodological knowledge of the information economy under the prism of innovation and digitization. In International Scientific and Practical Conference on Digital Economy (ISCDE 2019). Atlantis Press.