Dates: 29 Jan, 30 Jan, 31 Jan 2024 | 9am – 5.30pm | Classroom Learning
Duration: 3 Days
Digital transformations have a very high failure rate of 70% to 92%. Reasons for transformation failure from research comprising 2970 companies, and 10074 executives globally, indicated very varied reasons for failure, substantiating that the absence of a holistic and structured approach is the leading cause of failure. The reasons for failure can be broadly categorised into four dimensions – customers, business, capabilities and people and leadership issues.
This course covers the customer and business dimensions. The customer dimension looks at how a desirable Customer Value Proposition (CVP) is derived from the following five elements – segment choice, understanding of the segment gaps, and deriving the insights from the gaps, which then allows the creation of a unique experience, that is finally backed by a robust business process re-engineering. Participants will be assigned a business use case and perform suitable exercises chosen from a total of 35 available exercises in the customer dimension to understand the key concepts and how to apply them in practice. Not deriving a desirable CVP is a key reason for digital transformation failure.
The business dimension results in the creation of a viable business model (BM). There are four elements – differentiation, path to profit, scaling and core competence gaps. Participants will be assigned selected exercises from a total of 22 to understand the key concepts and how to apply them in practice. Not creating a viable BM is another key reason for digital transformation failure.
At the end of the course, participants will gain a full appreciation of customer experience management, business process re-engineering and product design and development and how they can create a desirable CVP by designing the key considerations for each element of the customer dimension. In addition, participants will understand and appreciate the role of business innovation in deriving a viable BM.
At the end of the course, participants will be able to:
- Understand why a holistic approach is key in transformation to resolve the high transformation failure rates.
- Understand what business you are in and what types of changes most drive transformation success
- Understand how the interrelated nature of the transformation dimensions makes identifying a starting point difficult.
- Understand how changing the elements of the customer business dimension results in business innovation
- Appreciate how well you know your customer’s problems and practice design thinking in user experience design to make the customer the centre of all design decisions.
- Understand why insights play such an important and often neglected role in determining customer experience management or new product design and development.
- Understand the role of business process re-engineering in achieving your product, customer and user experience
- Evaluate and understand how differentiated is your Customer Value Proposition
- Understand how to craft your path to profit and how to scale your business transformation or innovation
- Appreciate and discuss the importance of design considerations for the elements of the business dimension and how this can lead to business innovation.
- At least 5 years experience in management and leadership positions
- University degree in any discipline
(Click photos to view biographies)
Dr Dennis Khoo
Dr Dennis Khoo is an accomplished digital business leader, author and speaker in innovation and leadership. Armed with dual experience in Information Technology and Banking, he has a unique advantage in developing and executing strategies for the transformation of businesses in a digital world.
Dennis is author of the bestselling book Driving Digital Transformation in which he describes his experience leading complex digital transformations and the playbook he created (“TaP”) to significantly raise the probability of success of complex digital transformations.
Dennis was a senior banker who had previously run billion dollar businesses as head of consumer banking for Standard Chartered Bank and UOB in Singapore. He was responsible for many of the innovations in the consumer banking industry in Singapore, such as e$aver, XtraSaver (Winner of Asian Banker Best Deposit Linked account in 2007), Retail Bonds, Step-up time deposit, Pay-Any-Card (Winner of Asian Banker Best Payment Product in 2011), 15% Dining Cashback everywhere, 2-day Mortgage Service Guarantee, UOB Income Builder, One Account and UOB Mighty App. Dennis has hands-on experience in every product area in consumer banking and was previously CEO-Designate in one of the consortiums bidding for the digital bank wholesale license in Singapore.
A digital bank pioneer in ASEAN, Dennis was global head of TMRW Digital Group (UOB’s Millennial digital bank), where he was responsible for the strategy, growth and delivery of the TMRW Digital Bank. The first TMRW Digital Bank went live in Thailand in 2019, and the second in Indonesia in 2020. TMRW won Global Finance Most Innovative Digital Bank in Asia Pacific in 2019. Dennis also led the joint venture initiatives into FinTech like Avatec.ai and VUI Pte Ltd as part of the ecosystem to support the growth of TMRW.
Dennis is a WABC (Worldwide Association of Business Coaches) Registered Corporate Coach, a certified Gallup Strengths coach, and accredited in Harrison Assessment Employee Development. Dennis has mentored and coached many successful executives in his long career.
Dennis received his Bachelor of Engineering (Electrical and Electronics Engineering) and MBA from the National University of Singapore. He also has a Master in Business Research and PhD from the University of Western Australia. He has attended the Digital Business Leaders Program (DBLP) in Columbia University, New York.
Mr Choi Jungkiu
Mr Choi Jungkiu is the Manager Director and Partner of the Boston Consulting Group. He is a member of the Financial Institutions practice at BCG specialising in strategy, transformation, business development/M&A/PMI, sales force productivity, and operations improvements. He leads marketing for the firm in Southeast Asia. Recently, Jungkiu has been focusing on digital banking/challenger bank build, coalition loyalty, bank tech/digital transformation, corporate governance/conglomerate strategy, and executive coaching/development.
He has built a number of digital banking channels and digital challenger banks as well as coalition loyalty programs in Korea, Indonesia, Vietnam, Singapore, and Southeast Asia; and has led numerous bank tech/digital transformations, and built conglomerate digital ecosystems across Greater China and Southeast Asia.
Prior to joining BCG, Jungkiu worked as Director of Corporate Strategy and Management Development at NURI Management; Head of Financial Institutions Practice Asia Pacific at Kearney; and Group Head of Strategy/Business Development/Reengineering at Standard Chartered Bank.
Jungkiu has a Bachelor of Arts in International Economics from Seoul National University and MBA in Finance from University of California, Berkeley, Walter A. Haas School of Business.
Total Nett Programme Fee Payable, Including GST, after additional funding from the various funding schemes
Participants must fulfill at least 75% attendance and pass all assessment components to be eligible for SSG funding.
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TGS-2023035933 (Classroom Learning)
Course Fee Breakdown
Singapore Citizens39 years old or younger
Singapore Citizen40 years old or older