HIGHLIGHTS FROM THE PODCAST: (portions of this have been edited for clarity)
What are some risk taking assessments any organization might have to do if they’re starting a digital business. What are some of those things where you go, all right, this is going to be risky but let’s do it anyway?
So, there are a couple of risks that organizations need to look at when building your digital business. One is the fundamental product or strategy in itself, it’s a risk for many organizations because they’re in a realm they’ve never been before. Imagine an incumbent [telecommunications company] looking to build a brand new streaming business. This is something that I’ve been involved with a client in Southeast Asia and it’s a big risk because they know how to serve telco customers, make calls and run data networks, but it’s very different (from) running a video streaming business. So, there’s a big risk around, do we even have the right product and the right strategy to be successful in a very competitive market?
And then the area which is also a risk (that) I think is absolutely critical to digital business building is, what’s the culture you want to build? And how far are you willing to go in terms of taking a risk in terms of building that culture? Because frankly it’s the culture that’s going to determine success or failure in the end.
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