Extensive experience in executing transformational business initiatives has taught us that companies have to prepare multiple aspects.
The company needs to be prepared to start executing CoI related business models in ways which do not necessarily coincide with the overall execution strategy. This preparation requires a number of key elements in order to form a congruent framework, as identified through extensive experience in transformational business initiatives and case studies of CoI related successes.
Case studies show how top management vision and commitment determine the success factors for information driven companies. Amazon, for example, transitioned from a closed to an open platform which third parties use to sell products. This resulted in a growing number of transactions which in turn enabled the collection and distribution of more data, reinforcing de facto standard position.
A common understanding of ambitions is required within the organisation in order to create focus. The focus needs to shift over time and this shift has to be managed accordingly.
To mobilise the right people, the company either has to free up existing employees or attract new resources. The challenge for incumbents is to attract the capabilities they lack, because true subject matter experts generally prefer to work in a different type of environment.
To ensure the right amount of CoI activity, bottom up initiatives and construction of the roadmap need to happen simultaneously. A typical characteristic of Competing on Information is that not all activities can be planned for; some of the best ideas will result from trial and error initiatives.
Also, technological and financial conditions have to be met to provide a springboard for CoI launch.