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Corporate Resilience is one of the claimed benefits of successful Digital Transformation
Resilience, the ability to recover from or adjust easily to change, became top-of-mind for me as a resident of Texas. Having first-hand experience of the effects of power generating, I had a bit of time to contemplate resiliency. One of the 
purported benefits of digital transformation is the improved ability of an organization to pivot faster in response to market conditions, technology advances, and changes in the competitive landscape. I still see a lot of misrepresentation of digitalization with digital transformation. If companies operate the same way, maintaining the same culture, digitalization only distributes information faster. Digital transformation builds on digitalization to create a more dynamic and adaptive business culture. Corporate resilience is part of digital transformation; a cultural quality supported by digitalization.
Corporate Resilience for Survival
While February is a wakeup call for ERCOT electrical providers, a similar scenario happened about 10 years earlier. Although the investigation is ongoing, it would appear that the culture didn’t change. The upstream oil and gas industry has faced multiple price crashes over the past decade and all industries have faced challenges related to the ongoing pandemic.
What we noticed at ARC Advisory Group is the companies that had begun digitalization prior to the pandemic were better able to transform to accommodate social distancing and remote work requirements. In the case of the pandemic, the culture change was forced. As society returns to “normal,” it will be interesting to witness what companies continue with the changes and/or what aspects of the changes the companies maintain. It’s easy to slip back into the comfortable ways of doing things because we humans don’t like change. This partly explains why the Texas power grid failure of 2011 repeated itself last month. That’s why it’s the ‘crisis’ that brings new ways of doing things. “Necessity is the mother of invention. [Plato]” However, complacency erases the gains.
Digital transformation possesses a permanence within an organization’s culture. How can you be transformed otherwise? Right? When a corporate culture is digitally transformed, change is embraced, adaptiveness is pervasive, and agility is realized. It is a different method of management because the procedural guides have changed. Corporations must revisit their guidelines and best practices, just as they did for COVID, and ask, “Does this still make sense based on the technology available and market conditions today?”
We’ve written a good deal on the topic of digital transformation. Feel free to poke around our blog site. If you’re part of a manufacturing company, please consider joining the Digital Transformation Council.
And with that, I’m going back to contemplating backup generators.