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Knowledge exchange partnership leads to digital transformation at Hydro‐X Water Treatment, Ltd.
Author(s) -
Heinze Aleksej,
Griffiths Marie,
Fenton Alex,
Fletcher Gordon
Publication year - 2018
Publication title -
global business and organizational excellence
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 16
eISSN - 1932-2062
pISSN - 1932-2054
DOI - 10.1002/joe.21859
Subject(s) - general partnership , competition (biology) , maturity (psychological) , business , digital transformation , revenue , audit , business model , key (lock) , knowledge management , marketing , process management , computer science , finance , accounting , psychology , ecology , developmental psychology , world wide web , biology , computer security
To attract a generation of workers and consumers who have never known a world without Wi‐Fi, smartphones, or social media, organizations increasingly have no choice but to incorporate digital technology into every aspect of their operations and processes. The leaders of Hydro‐X, a privately owned British enterprise, met the challenge of digital transformation by forming a knowledge exchange partnership with a local university and applying two business models to assess the current state of digital maturity at the firm and map out a strategy to improve it. Their experiences reflect the HINGE project planning methodology: Horizon scanning to evaluate the competition, Internal auditing, New model creation, Gap analysis, and Evaluation of options to determine next steps. As a result of their efforts, Hydro‐X fostered an intrapreneurial spirit among its staff and refined its e‐commerce platform to digitally target key audiences in order to tap into a new source of revenue.