From the course: Assessing Digital Maturity
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One speed business
- On the path to digital transformation, there'll be a period of operating in the old way while adopting a new approach. Now there are some who believe that operating at two speeds is the new reality. After all, if yours is a going concern of a certain size, you can't shut down the business and then reopen only after the change is made, right? I believe it's important to set a vision of becoming a one-speed, as opposed to a two-speed business. Let me explain. Not long ago, I spoke with Rob Alexander, who's been the chief information officer at Capital One for more than a decade. Even though the company's only about 25 years old, he came to realize that new companies were operating at a different pace and cadence than they were able to. He elected to embark on a multi-year journey towards modernizing. Together with the company's founder and CEO, Rich Fairbank, Rob drove a radical transformation of the business. First, he hired for learning agility of his team members. He made sure that…
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