Digital transformation in the airline industry
Aldric explains that there are three things an organization going through digital transformation should do.
Firstly, set up a dedicated team in digital transformation to be in charge of the overall digital strategy for the organization, managing data and turning it into actionable insights to drive better customer experience.
Then in Aldric’s eyes comes the most important commitment for a company going through digital transformation: culture.
“You need the right culture for people to understand what digital transformation is and to encourage your people to participate in it,” he says.
In recent years, Cathay Pacific have been organizing an annual hackathon that brings together young innovators in Hong Kong who are passionate about aviation and technology. They develop and pitch innovative technology solutions to a panel of industry professionals, working to shape the future of air travel together.
“It should involve all colleagues,” Aldric explains, “not just management levels—that’s incredibly important for cultivating a digital culture within an organization.”
Thirdly, adopt an open mindset and seek out perspectives outside your industry. Cathay Pacific bring in external consultants and speakers who share their experiences of digital transformation and act as a sounding board for employees to bounce ideas off.
The company also speaks to retailers about how they are managing COVID-19, and how to identify opportunities amid the crisis through technology.
And that's the essence of digital transformation that the future generations of managerial talent coming out of MBA programs like HKUST's will have to bear in mind. What worked in the past won't necessarily work in the future, and companies will need tech-savvy talent who can maneuver legacy business operations and bring companies into the 21st century.
The HKUST MBA is preparing students to do just that.
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