Why Digital Transformation Is a Work in Progress

 
 
By Dennis McCafferty  |  Posted 03-28-2017 Email
 
 
 
 
 
 
 
 
 
 

The vast majority of global CEOs feel that a failure to embrace digital transformation will prove damaging to their organization. However, relatively few strongly agree that their company understands what it means to be digitally transformed, according to a recent survey from the Conference Board. The report, "CEO Challenge 2017: Leading through Risk, Disruption and Transformation," indicates that CEOs, CIOs and other senior leaders have their work cut out for them in pursuing digitization. Only a minority, for example, are very confident that their organization is more advanced than peers and competitors with regard to these efforts. Nor do they strongly feel that their organization has adapted an enterprisewide strategy to maximize the impact of digitization. As a result, the desired impact is falling short with respect to increased efficiency, productivity and ROI. "Digital transformation stretches across the value chain and touches every aspect of business operations, from the initial research and development phase to the final delivery of a product or service," according to the report. "A successful digital transformation requires an enterprisewide approach to strategy and systemic change. The challenge of true digital transformation is to change the organizational culture, convert risk-averse disbelievers within the organization, and facilitate digital transformation at all levels, in all business units throughout the organization." More than 500 global CEOs took part in the research.

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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