By Greg Satell, Andrea Kates, and Todd McLees —
Digital transformation is not just about technology. Success involves far more than simply procuring competent vendors and doing some user training. These initiatives can no longer be left solely at the feet of technology leaders and IT staff, but must involve a diverse set of ecosystem stakeholders. We’re desperately in need of a shift in focus. We need to do more than just implement technology. Basic objectives such as cost optimization and process improvement can no longer be the ultimate aim. Leaders must inspire and empower their entire organization to boldly reimagine their work environment, customer needs, product offering, and even the purpose of the enterprise.
Clearly, digital transformation is no longer an option, but an imperative. In fact, recent research from Accenture has found that in the three years prior to 2018, firms who led their industry in enterprise technology adoption grew twice as fast as laggards. Today, they are growing five times faster.[1] The risk is no longer merely getting left behind, but being eliminated altogether.
Make no mistake, however, digital transformation is not just about technology. Success involves far more than simply procuring competent vendors and doing some user training. These initiatives can no longer be left solely at the feet of technology leaders and IT staff, but must involve a diverse set of ecosystem stakeholders.
We’re desperately in need of a shift in focus. We need to do more than just implement technology. Basic objectives such as cost optimization and process improvement can no longer be the ultimate aim. Leaders must inspire and empower their entire organization to boldly reimagine their work environment, customer needs, product offering, and even the purpose of the enterprise.
In our work helping some of the world’s top-performing organizations navigate the challenges of digital transformation, we focus on four key principles:
- Digital transformation is not the same as innovation;
- Enlist the enthusiasts;
- Start with a keystone change;
- Leverage digital transformation to reimagine the enterprise.
Read the full article, with further details and examples, or read
Notes
1. Leading companies that scaled technology innovation during COVID-19 are growing revenue five times faster than lagging adopters, according to a new Accenture report, Make The Leap, Take The Lead: Tech Strategies For Innovation And Growth (April 2021).
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SOURCE: Harvard Business Review
Tags: Harvard Business Review, strategy, Transformation
