Convincing Your Company Leaders to Invest in New Technology - Deepstash

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Convincing Your Company Leaders to Invest in New Technology

Convincing Your Company Leaders to Invest in New Technology

hbr.org

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The Psychological Barriers

For business owners and leaders tasked with driving digital strategy, it is their perception of risk that is more impactful on success than anything else. Deciding to incorporate digital tools or infrastructure can be daunting because of the unknown it represents, but shying away...

Given the near-constant state of flux, it would be fair to assume that they might be more willing to embrace new processes or tools to get themselves back on track, adapt and thrive in an expanding digital economy.

Instead, many still opt to maintain the status quo. 

A great ...

Along with death and taxes, change is one of life’s constants. And just like those other two examples, it is something many humans fear.

Theoretical models suggest this is due to the absence of control and a lack of understanding of what lies ahead. It’s simple, really. We are afr...

This uncertainty is common in the business world. Whether it’s a new tool, a new colleague, or shifts in the wider market, it’s natural to feel trepidation about the upcoming impact.

It therefore stands to reason that no matter how much change someone has experienced, an ...

There are several psychological factors — or mind traps — that business leaders fall into when making decisions about a digital strategy. These can vary depending on the size of the organization.

“Group think” is one such trap and has the potential to be damaging. It can ta...

In smaller, agile organizations, the decision-making burden may rest on one employee or a very small group of them, making it easy to fall victim to cognitive errors.

“All or nothing thinking”  means small business owners may view things in more binary terms – thinking som...

With so many hurdles to effective decision-making, it’s no wonder digital transformation is hard to get right. In addition, convincing budget holders to increase technology adoption is no easy task.

But it can be done. Sometimes, rational explanations aren’t enough to get...

By applying the principles of nudge theory, it’s possible to persuade them. Many of these techniques play on core facets of human programming, such as the human fear of missing out. For example, comparing commercial progress or digital strategy with competitors can be an effectiv...

Otherwise, we can prime business owners and leaders by sending them reminders (advertisements fall into this category) or asking them to imagine a scenario in which technology is or isn’t adopted.

Appealing to the imagination in this way can be very effective — and can include prompting t...

Of course, affecting change in business should be carried out entirely without manipulation.

Whether you’re a government, tech vendor, or an industry body, there is a moral imperative that should govern efforts to influence tech adoption.

For business owners and leaders tasked with driving digital strategy, it is their perception of risk that is more impactful on success than anything else. Deciding to incorporate digital tools or infrastructure can be daunting because of the unknown it represents, but shying away from the process...

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