Lesson 1: Figure out your business strategy before you invest in anything. Five key lessons have helped us lead our organizations through digital transformations that succeeded. But if people lack the right mindset to change and the current organizational practices are flawed, DT will simply magnify those flaws. Why do some DT efforts succeed and others fail?įundamentally, it’s because most digital technologies provide possibilities for efficiency gains and customer intimacy. Of the $1.3 trillion that was spent on DT last year, it was estimated that $900 billion went to waste. Yet 70% of all DT initiatives do not reach their goals. A recent survey of directors, CEOs, and senior executives found that digital transformation (DT) risk is their #1 concern in 2019.
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December 2022
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