Transform your business or get folded - Keynote of John Masud Parvez at Asia IOT Business Platform
Updated: Nov 29, 2019
John Masud Parvez was keynote speaker to Asia IOT business platform on – Why and How to start a digital transformation for your companies. The Conference was organized at REX Hotel, Ho Chi Minh. And there were around 450+ Public sector government officials business leaders, CEO, Directors and entrepreneurs attending this conference. Though this article we will share you the summery of John Masud Parvez’s keynote speech.
John Masud Parvez started with –
Dear Industry Leaders, Friends and Fellow mates ,
Transformation, Digital technology adaptation and utilization is becoming a KEY for every business sector. I am not here to sell you anything, no product. I am here to tell you, what is the thing can make your business, initiative more successful, your organization to achieve bigger goals. Why I am doing this? The only thing I want is you will think one day, You meet a guy John Masud Parvez in IOT Business platform and he helped you to open up your mindset to achieve bigger goals by leveraging the Digital Technology and transformation approaches.
So next 20 minutes, I am going to really PUSH you, with all my energy, and tell you please understand this, take this opportunity, go for growth and achieve bigger goals, or others will do, and they will simply knock you out of the picture in next maximum 5 years period of time.
What is your data? How are you looking at data on 2019?
For most of you are seeing data as your liability now. But let’s take a minute, people also hacking your data, collecting your data with IOT devices with or without your permission, do you ever think why? Why hackers want your data? Did you ever think why your tech company wants to take your data, want to keep your data?
Why my dear friend? Because data is your Asset.
You simple did not realize the value of this new dominant currency and not did not able to put the perspective on that and see that as asset. You also did not transform your organization to establish a model where your data is your asset.
Though this is 2019, which is the prime time to grow, scale up the business and improve the service quality to serve the customer better, grow the customer base bigger but very little company actually perform the digital transformation Vietnam. Currently there are the almost like the 90% of the companies who are not performing the digital upshift due to the following two
They don’t know or did not realize the future business growth and very happy with their present portfolio of customer
They simply do not have the capability to perform a digital up shift.
This is very simple to justify why and how they are falling behind of the small percentages of companies who are actually performing the digital transformation to leverage the digital technology to scale up their business from now to next one to five year roadmap. Now let’s look at the other part of companies who are the memories, the present structure
Most of the companies just has a IT Manager, Not even IT Director and CIO is an alien term for them
Large part of the company CEO expressing himself as a CIO as well. So how is the CEO and who is the CIO? Simple the job is not done!
To perform a transformation someone needs to lead or facilitate that, who is mainly Chief Transformation Office, This position is available in companies, which we could count by our hand’s figure.
Now let’s talk about the minority who actually took the step forward and performing digital transformation by milestone. Just to ensure we are in the same page, I am not talking about implementing some IT system or software, I am talking about performing a organizational level transformation driven by data, technology and culture. We were running discussion in different level of those organizations internally and externally, but these companies misery is
40% to 90% of those companies fall in the situation are as following –
Could not perform their mission
Delayed their goals
Paid way over than they should.
Actually, the number is so high actually; they are passively demotivating the other organization to adopting the digital technology and perform organization level transformation. The key learning from them is the main reasons those companies struggles are:
They started the transformation without really setting up their correct goals.
They did not get the buy in from the C level and leadership team members. Just enforced that.
They started the transformation without their internal capability, particularly their IT team’s capability
They did not setup the right structure of the organization to facilitate the transformation
They did not have expert and right consultants who were in the organization’s team side. So the tech companies highly skilled consultants directly worked with companies C level team (who has no idea about transformation journey) always got the deal done in their favor.
Those are the key learning from their fallout and over paying case studies. So let’s use those case as learning point and leverage those to perform your own organization’s transformation journey. This is 2020 starting with an amazing amount of opportunity go scale up your business, so let’s focus to leverage those by setting up your company’s culture, internal capability and right goals. One last point
Digital Transformation is not about increasing or doubling the revenue, it’s such a small goals. Your goal should be much bigger than that, than you can even reach more than 2X revenue.
On the closing mark John Masud Parvez finished with -
Dear leaders, friends and industry fellows,
I am finishing here today. There insight and approach I have shared you today and I am sure in next 2 – 3 years of time we will meet again, and here are the only possible scenraios
Scenario 1: You actually listened to me today and go back and implement those notes which I took from my speech. And you will say ‘Thank you” your advices gave us a dimension to move forward on transformation.
Scenario 2: You listened, you went back to your business and still did not took the initiative for your business in term of transformation. Which was your fundamental duty as business owner, Leader of the business. And you will be sharing your regrets with me.
See you again! All the best! Thank you very much!
To know more about John masud Parvez, Please visit here