Digital Transformation Is Not About Technology
Of the $1.3 trillion that was spent on DT last year, it was estimated that $900 billion went to waste. Most DT efforts fail because most digital technologies provide possibilities for efficiency gains and customer intimacy. But if people lack the right mindset to change and the current organizational practices are flawed, DT will simply magnify those flaws.
Five key lessons help lead organizations through digital transformations:
Lesson 1: Figure out your business strategy before you invest in anything.
Lesson 2: Leverage insiders.
Lesson 3: Design customer experience from the outside in.
Lesson 4: Recognize employees’ fear of being replaced.
Lesson 5: Bring Silicon Valley start-up culture inside.
To read the full HBR article, please click here.