23) Modernization

  Modernization

Modernization is the process of updating something or making it work in a contemporary setting. The modernization of an office might include new computers, high-speed internet, and a fancy espresso machine.

Modernization theory says that when countries become richer, more educated, and more modern in their economy, they are more likely to have fair and democratic governments. This idea was popular in the 1950s and 1960s and was supported by thinkers like Seymour Lip set. The theory became popular again after the Cold War ended in 1991.

However, many experts disagree about this theory. Some say that not all rich and modern countries become democracies. For example, Japan, Germany, and the Soviet Union became modern but did not always stay democratic. Some experts believe that democracy helps a country become modern, not the other way around. Others think that being modern helps democracies last longer but does not always create new ones. Still, some studies show that richer and more developed countries are more likely to become democratic.

Modernization theory exemplifies a functionalist approach to inequality and focuses on the transition from "traditional" to "modern" society; it became an interdisciplinary (drawing on economics, political science, sociology, psychology, and history) approach to development and flourished in the 1950s and 1960s. Modernization theorists argued that modernization is inevitable, irreversible, and that the transformation from traditional to modern societies will occur in a linear way. Change can be achieved through the "diffusion" of modern economic and political institutions, technology, and culture through foreign investment and aid, and through education and mass media. Diffusion—or spread—of capital, technological innovations, and cultural traditions from developed to underdeveloped countries, is the mechanism that enables modernization. Modernization theory was widely criticized by the neo-Marxists, dependency theorists, and world-systems researchers and was largely discredited in the 1970s.

Key goals of modernization

As a CIO, it is essential to communicate the objectives of modernization to your board. Forrester has identified three primary modernization goals: modernizing user experience, increasing adaptability, and adding new functionality while minimizing risk.

1. Modernize user experience

At the top of many application modernization strategies is the need to provide the most modern user experience, which is critical for any business that wants to remain competitive. Users have high expectations for the digital experiences they interact with, and poor user experience can result in unhappy clients. A well-designed modern user experience can help businesses reduce customer support costs by creating a self-service experience. By improving the usability of internal systems, companies can also increase employee productivity.

Moreover, modernization can also improve a brand’s reputation. When users have a positive experience with a product or service, they will likely recommend it to others and leave positive reviews, which attracts more customers and drives revenue growth.

2. The benefits of increased adaptability

In today’s digital age, companies must be able to adjust quickly to new technology, changing markets, and the ever-changing needs of clients and customers. The second primary goal of adopting an application modernization strategy is to help your company adapt and stay competitive.

Modernizing your applications can increase your adaptability, reduce technical debt, and provide a fresh start. A successful modernization effort should include integrating with other applications or adapting to new business models due to mergers and acquisitions. Embracing modernized applications, whether in a use case for your employees or clients, helps serve that purpose.

3. New functionality while reducing risk

Any application modernization strategy comes with risks and challenges that organizations must navigate. Some risks include downtime during the transitions, the possibility of corrupted or lost data during data migration, or compatibility challenges with legacy systems and apps.