What advice would you give businesses facing the challenge of digital transformation ?
These losses compound over time , widening the competitive gap with their established competitors and leaving them utterly unprepared for disruptive competitors who attack from a different business vector .
BCG has an excellent study that found roughly a third of companies faced a sharp decline of 10 % or more in total shareholder return over any two-year span , and another third of those companies deteriorate even more over the following five years . This suggests companies need transformative shifts at least once during any five-year window .
What advice would you give businesses facing the challenge of digital transformation ?
I would advise business managers to be agile and strategic about the effort ; look at opportunities to accelerate impact and reduce cost-of-process . The CEO or business unit leader must champion
14 April 2018