Digitalization is often seen as challenging and a bit loose. Is digital technology relevant to our business? Do we address digitalization and necessary changes correctly? Do we even understand digitalization and what to prioritize? How do we create a relevant digital agenda and strategy for our company with our specific circumstances and how do we secure a higher return on our initiatives?
Often the “digital” falls on the CIO only, sometimes a Digital Chief is appointed, a “innovation lab” is started and the topic “digital” is emphasized at management conferences, while at large business continues as usual. But don’t worry, it’s a good start.
After several interesting meetings the last couple of weeks with founders, CEO’s and technical directors of small- and mid-sized industrial companies here are some notes on the most pressing topic I picked up – the challenge of landing sales contracts.
The machinery and equipment manufacturing industry is Germany’s second largest industry by level of turnover; attaining €212 billion in 2014. More interestingly the turnover level has increased by about 70% throughout the last decade while employment is not at all increasing at the same rate.