Separating Digital Leaders From Digital Laggards

 
 
By Karen A. Frenkel  |  Posted 06-19-2015 Email
 
 
 
 
 
 
 
 
 
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    Separating Digital Leaders From Digital Laggards
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    Separating Digital Leaders From Digital Laggards

    By Karen A. Frenkel
  • Previous
    Few Excel at Both Digital Leadership and Management
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    Few Excel at Both Digital Leadership and Management

    Asked to rate their company's digital maturity, 47% of respondents gave mixed scores. 34% reported weakness in both digital leadership and management. 19% claimed strength in both.
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    What Makes a Digital Leader?
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    What Makes a Digital Leader?

    Digital leaders are more likely than followers or laggards to have: Revenue growth over 10%, Profit margins greater than the industry average, A CEO who understands digital opportunities and threats
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    More on What Makes a Digital Leader
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    More on What Makes a Digital Leader

    Digital leaders are more likely to have: A CIO who is a digital master or digital coach, Clearly defined digital vision and strategy, Digitally proficient leaders at multiple levels
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    Best Practices Based on Survey
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    Best Practices Based on Survey

    To help CEOs, CIOs can act as evangelists, leaders and digital coaches. Here are some best practices: Embed IT staff in lines of business so that learning happens during work, not just at meetings or training sessions. Help business colleagues understand which digital knowledge and skills they need for their job and which to leave to IT.
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    Build a Team of Digital Ambassadors and Coaches
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    Build a Team of Digital Ambassadors and Coaches

    CIOs cannot implement best practices alone. They need a team of digital ambassadors and coaches to educate other departments about IT skills they need and what can be left to their department.
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    Digital Acumen Needed
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    Digital Acumen Needed

    There is a "huge gap" between what is needed and the current level of understanding about the digital world. Only 23% of respondents are confident that their organizations have the knowledge and skills to succeed in digital aspects of their businesses.
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    Digital Leaders Follow Through
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    Digital Leaders Follow Through

    94% of digital leaders say their CEO understands digital opportunities and threats, compared to 80% of followers and 41% of laggards. 89% of digital leaders agree that leaders have built and communicated their digital vision, compared to 55% and 31% of followers and laggards, respectively.
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    Barriers to Digital Business Development
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    Barriers to Digital Business Development

    The primary issues holding organizations back in digital business are: Organizational silos, Legacy processes, Cultural resistance to change, Lack of innovative thinking throughout the business, Lack of digital leadership
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    Is IT Everyone's Job Now?
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    Is IT Everyone's Job Now?

    Addressing shifts in IT spending to other areas, the survey found that 41% of respondents said IT spending occurs outside their organization and has grown during the last two years.
 

Most companies lack the knowledge and skills to succeed in the digital aspects of their business, according to a new survey. While CEOs understand the strategic opportunities and threats of digital business, many have neither built or communicated their vision for their companies, nor have they developed a strategy to realize that vision. Furthermore, the survey reveals most organizations' leaders lack the skills and knowledge to execute a digital strategy even if they have one in place. Companies that rate highly in both digital leadership and management, however, do reap better business results than their peers, and this is manifested in stronger revenue growth and greater profit margins. The survey, "Driving Digital Transformation: New Skills for Leaders; New Role for the CIO," surveyed 436 global business professionals and was commissioned by Red Hat, a provider of open source solutions. One-fifth of respondents are "digital leaders," while one-third are "laggards." The report defines digital leadership as "creating a communicative compelling vision and strategy," and digital management as "putting in place and managing people, processes and technology to execute strategy." The survey was conducted by Harvard Business Review Analytic Services.

 
 
 
 
 
Karen A. Frenkel writes about technology and innovation and lives in New York City.

 
 
 
 
 
 

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