Critical learning points for all enterprises in a digital transformation project. These five issues reviewed in depth.
- Fuzzy Definition- fuzzy outcome
- Misunderstanding the economics of digital
- Overlooking or ignoring ecosystems
- Over-indexing on the "usual suspects"- disruption will come from elsewhere
- Missing the duality of digital
We find that a surprisingly large number underestimate the increasing momentum of digitization, the behavioral changes and technology driving it, and, perhaps most of all, the scale of the disruption bearing down on them. Many companies are still locked into strategy-development processes that churn along on annual cycles. Only 8 percent of companies we surveyed recently said their current business model would remain economically viable if their industry keeps digitizing at its current course and speed.