Separating Digital Leaders From Digital Laggards

 
 
By Karen A. Frenkel  |  Posted 06-19-2015 Email
 
 
 
 
 
 
 
 
 
 

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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