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Digital transformation and the COVID-19 challenge
This paper aims to provide frameworks, insights and approaches for organisations ranging in size and sector, to help them navigate through the challenges that COVID-19 has presented. The authors maintain that the role and environment of digital transformation need to be reframed. They have constructed and posed a holistic operating model framework that has been designed for the challenge organisations currently face and will continue to face in the future. It argues that finance and technology are fundamental enablers that transcend across the model, while due consideration is required for customer, operations and supply chains. Sustainability risks and levers are posed for each model component together with examples of how organisations ranging in size, sector and digital maturity have responded either proactively or reactively to the COVID-19 specific challenges; therefore, each section provides useful lessons and takeaways for organisations to consider how best to apply in their specific organisations and contexts.
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Ravi Bhalla is a high-impact enterprise-level senior leader with over 14 years management experience across telecoms, insurance and financial services in both industry (BT, AIG, Barclays, HSBC & Lloyds Banking Group) and consulting (KPMG). A highly respected programme lead with a strong customer, digital and lean background in roles ranging from strategy to operations, digital, multichannel and product/proposition development, Ravi has attained many awards, including the Barclays Gold Experience Award and the Lloyds Banking Group Leadership: Inspire Delivery Award, and has recently been nominated for the Lloyds Banking Group authentic leadership programme for Black, Asian and Minority Ethnics (BAME) colleagues who demonstrate the attributes and potential to attain an executive-level position. Ravi has previously been a KPMG course lecturer, utilising lean and six sigma experience gained to teach and coach others. He is also a BAME sponsor, providing mentoring and coaching to BAME colleagues who aspire and have the potential to become future senior leaders in Lloyds Banking Group. Ravi holds a BSc (Hons) in Business Management from the University of East Anglia and an MA in Management, Economics and International Relations from the University of St Andrews. His previous publications include ‘The 12 point Customer Engagement Model’ (2013), Journal of Brand Strategy, and ‘Omni-channel: Driving engagement through Digitisation’ (2014) for the Journal of Digital & Social Media Marketing. Ravi’s specialisms include customer experience, digital banking, programme and project management (PRINCE 2), Lean and six sigma (accredited black belt), Agile software delivery (Agile for Executives), design thinking, enterprise architecture, enterprise regulatory design and cybersecurity and operational resilience.
Elizabeth Osta is Chief Data Officer at Heineken, Visiting Fellow at the Judge Business School, University of Cambridge and NED Board Member and former Managing Director at Barclays. For over 30 years, Elizabeth has driven digital transformation, data and cybersecurity transformation in financial services (Barclays), retail (dunnhumby), consultancy (McKinsey) and consumer goods (Gillette and currently at Heineken). She has led first-hand digital transformation from the strategic implications for the business to technical solutions, to the fundamental role of a solid data backbone. She has incepted several innovation programmes, including cultural change for digital transformation; launched mobile applications in financial services; developed compliance measurements and cybersecurity platforms. She is advising companies and boards on how to tackle effectively the opportunities and risks of digital transformation. She is member of the Worshipful Company of International Bankers and of NEDonBoard, the professional body for NEDs and board members in the United Kingdom, working to make boards competent at realising today’s opportunities and meeting tomorrow’s challenges.