- Opinion & Analysis
- Read Time: 5 min
Companies have yet to apply analytics to human resources — but that’s about to change. And lessons learned in applying analytics to customer-focused areas can help avoid mistakes in strategic workforce decisions.
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Competition for digitally savvy talent has never been higher, but companies’ methods for acquiring and keeping the skilled employees they need are outmoded. Whether they want to develop capabilities in employees or tap on-demand talent markets — or some mix of both — human resources directors need to experiment with new talent management models.
What’s happening this week at the intersection of management and technology: Three stages of digital transformation; questions for digital disruptors; IoT and blockchain in the supply chain.
As companies recognize how important a digital strategy has become, they find themselves torn between different strategic options. The first decision is to choose between a customer engagement or a digital solutions strategy. Which to pursue depends on existing capabilities and competitive direction — but companies should avoid trying to do both.
Product monitoring enabled by the internet of things can unleash cost savings, service improvements, and better customer experiences. But before this revolution can move forward, both the quality and collection of performance data need to be greatly improved. A research project at the MIT Center for Transportation & Logistics carried out in collaboration with OnProcess Technology underlines the potential for fresh approaches.
Research shows that successful digital transformation does not require secret digital knowledge; it simply requires the boldness to recognize that digital transformation is occurring and to begin trying to adapt your business to account for and capitalize on these trends.
Market leaders have many advantages when adopting new technologies such as e-business, but they don’t always make the move. Why? It’s partly because new technology can be leveraged along a chain of related companies only if business partners also make the leap to adopt these changes. And research reveals that when large companies are significantly concerned about customer adjustment costs of new innovations, these powerful and otherwise highly capable organizations often resist change.
What’s happening this week at the intersection of management and technology: Digitization and operations management; a VR glove for tactile training; when robots train themselves.
As demand for big data technologies grows, so does the problem of finding sufficient skills. Result: Talent shortages could limit the rate of productivity growth. Research shows that labor-market factors have shaped early returns on investment in big data technologies such as Hadoop, a framework for distributed processing of large data sets. It turns out that when know-how is scarce, organizations that invest in new IT or R&D derive significant benefits from the related investments of other organizations.
What’s happening this week at the intersection of management and technology: Smart earbuds at work; adding cybersecurity to the executive job description; diving into data lakes
Eight out of 10 executives surveyed say that as the business value of data grows, the risks their companies face from improper handling of data increase exponentially. While digital advancements enable new opportunities for businesses to compete and thrive, they also create increased exposure to systemic risks. Success in the digital age will require a new kind of ethical review around how companies gather and use data.
In a video interview, MIT SMR editor in chief Paul Michelman explains the impetus behind the launch of the publication’s Frontiers initiative and the value he hopes it will hold for readers. Michelman explains the genesis of the Frontiers idea, the nature of the essayists selected for the program, and why it’s important for MIT SMR to launch this initiative now. He also discusses the themes that emerged from the essays, including the changing nature of the man-machine collegial relationship.
Early adopters of software robots exemplify how companies generate tangible benefits via service innovations in three ways: (1) by developing an approach to service automation supported by top management, (2) by initiating effective processes that deliver value to customers and employees, and (3) by building enterprise-wide skills and capabilities. Managers interested in capturing the benefits of service automation need to pursue all three avenues.
The impact of digital technology on how businesses design and produce goods, interact with their supply chains, manage internal communication, and connect with customers is a rich topic that has been, and continues to be, broadly addressed in both commercial and academic business media. But as the digital revolution enters its next phase, we find ourselves confronting a new set of questions about the relationship between technology and management. These questions go to the core of the organization.
Social media technology is changing how managers and employees communicate and is breaking down traditional corporate heirarchy. To gain advantage from this trend, executives must recognize the value of dialogue and employees need to know that their leaders won’t punish them for expressing dissenting opinions. Executives will also need patience and a thick skin — but leaders who invest in truly open dialogue with their workforce will reap the long-term benefits.
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