The Business Times, Singapore: Cognizant’s APAC Head Discusses Three Key Lessons From Singapore’s Growth for Achieving Digital Transformation
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“Singapore’s growth journey is an impressive one,” writes Jayajyoti Sengupta. “Its steady and growing GDP has set a fine example of balance between competitiveness and continued growth.” Excerpts:
“Just like how Singapore successfully overcame numerous socio-economic challenges after it gained independence in 1965, leaders in this digital age must continually discover opportunities and react to them quickly. This is where digital technologies will serve as a crucial enabler to helping businesses understand and take charge of their growth journey.
There are three key lessons that can be gleaned from Singapore’s transformative journey for enterprises that wish to embark on the pathway to digital transformation.
- Zoom in on your vision: Singapore’s success is the result of a collective society working together as one to achieve a shared goal. Businesses that work as one towards a common vision will find they are better able to embrace change and navigate challenges ― especially in today’s digital era.
- Celebrate the spirit of passion and persistence: Just like in building a nation, people and processes are seldom mutually interchangeable. It takes relentless persistence and passion to continue despite setbacks, changing teams and inadequate resources ― all of which are bound to happen. In embracing a shared vision, businesses must be careful to sustain the level of momentum and passionate belief so that employees believe they are making a difference in the interest of the overall goal.
- Embrace change: Radical change to your enterprise’s digital transformation journey does not happen overnight. And it certainly doesn’t happen by adopting a “wait-and-see” approach towards new technologies. Instead, change on a transformative scale begins with critical alterations to the business and operating models.
In keeping pace with the changing landscape, businesses which deploy digital technologies and successfully embark on their digital transformation journey will find they are better able to overcome challenges and head towards growth.
As with Singapore’s headway of half a century, businesses ― both large and small ― are bound to face challenges through their IT journey. However, the defining factor will be the ability of businesses to leverage technological innovations to secure the intelligence and speed required to reimagine themselves and redefine the next 50 years of their business.”
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