Since the publication of the book ‘Leading Digital’ in 2014, there has been a lot of water under the bridge. In order to have a look into the updates of his findings and discover more about digital transformation, I interviewed Didier Bonnet, one of the authors of the book.
In terms of business maturity with respect to digital transformation, what has and hasn’t changed in the past 5 years?
First of all, I think a lot has changed in terms of the way companies have approached digital transformation. Five years ago, only a few companies were doing really well. Today it’s pretty much common parlance in company terms, as almost everyone has launched some form of digital transformation program.
Some companies like Nike are really making a big headway in this area. There are new technologies appearing on the scene such as AI, IoT and others, which are fairly complex. So, the difficulty of creating value out of these has increased tremendously, and therefore, what we see is a polarization of companies that have mastered digital transformation and are continuing to adopt and experiment with this technology very effectively.
Over the last twenty years, the Chinese digital market has been growing and evolving very fast and China has even become a worldwide leader in digital transformation today. However, China’s digital landscape is quite different from that of the West. Let’s discuss a few questions which would help you comprehend this intriguing market: What are the key characteristics of Chinese digital market? How could a brand succeed in E-marketing in China, especially a French or a Western brand?
First of all, what are the key characteristics of the Chinese digital market?
Firstly, the Chinese digital market has been growing very fast over the last 20 years, and China has even become a worldwide leader in digital transformation.
The total number of Internet users in China has exceeded Europe’s population, i.e., 772 mn in Dec. 2017, representing 56% of Chinese population. China is also leading the mobile payment revolution. In 2016, the mobile payment volume (in $) in China was already 11 times that of the USA. Apart from that, China has become a worldwide leader in e-commerce and New Retail. It’s also in the global top three countries for venture capital investment in some key technologies, like Virtual Reality, AI and machine learning, Autonomous driving, Robotics and drones, 3D printing, Big data, etc.
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A while ago I delivered a speech onfinancing of Higher Education, wherein I emphasized that education entails a cost.Once this fact is comprehended, it is wise enough to walk the roads of strategic thinking to timely secure the funding options for tuition fees. This would ensure that each element of the French higher education is strengthened not only for the good of all its stakeholders (students, families, teachers, support staff, etc.), but also for companies and the country as a whole.
To state a precise number, let me mention that the annual cost of graduate studies, whether private or public, is €13873. This accurate figure, calculated by the OECD, perfectly highlights the importance of this subject. But to our amazement, this topic is a taboo in some countries (see below). In such countries, the fact that the state is the main donor has caused the public to believe that studies are “free” because of redistribution.
Why education has a cost
Regardless of its status, just like any business or organization, an educational institution bears a range of expenses that span multiple dimensions:
investment expenditure (premises, infrastructure, information system, etc.)
operating expenses divided between:
salaries (teachers, support staff and others)
specific functions (direct cost of training – case purchases for a business school, for example)
Let’s also take a note of the fact that whenever an institution of higher education operates as a business in the high value-added services sector, then it’s a rule that 60% of its budget is spent on the salaries of its staff. Read more →