15 Nov What ever happened to e- ?
How time moves on. We rarely see this now. Not only the technology develops, but I suggest the terminology moves even faster. Along with the popularity of the iPhone was the i-everything but that is now not fashionable either.
I was at an Australian Institute of Company Directors event this evening. It was on Digital Strategy, the impact that technology was having on business, on competitors, on industry structure, on internal risk management and a multitude of other critical business impacts. But No, it was not about these, or at least not all of them. It covered some of this ground but not all. It covered, what used to be called e-marketing or perhaps what we could call Digital (Marketing) Strategy.
This is an important area. Social media, marketing, employee engagement, customer intelligence are all critical. But there is more to the impact of technology than this.
My fellow colleagues at the event asked two questions in particular that I enjoyed that were reflective of this bigger picture. One question was about Board capability and competence in relation to marketing, technology and the like. Another question related to competitor behaviour and business model design, and I shall add to that with own interpretation of suggesting a link to industry structure. These considerations are all crucial to forming a complete view of the digital/technology/information age related change impacts on all organisations, and indeed on the community at large.
These change impacts are happening in waves. One of the latest waves is on marketing. Not that marketing hasn’t been impacted before. It has. But now it is gaining pace and importance, and in some quarters, the Chief Marketing Officer is claimed to be a bigger technology purchaser than the Chief Information Officer.
And so now we have the Digital Strategy. The “marketers who do technology” are now getting so powerful they too can reinvent their own terms. After all the “technologists who do marketing” have been doing this for a long time.
There is a broader picture here though. There was a time in history when finance was not a skill or capability pervasive to all business people. Today you would not get far without it. This evolution is happening with technology. Eventually technology related skills and perspectives, and being able to apply these into every role and every part of the organisation will be standard practice. This remains some decades away.
But stay tuned, the changes are continuous and there are many many steps ahead, despite what we have already seen. And whatever happens, there is bound to be a new name we can call it too.
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