New opportunities and challenges for CEOs
Digitization can extend the reach of organizations, improve management decisions, and speed the development of new products and services. At the same time, the excessively rapid adoption of technologies can disrupt traditional business models. Organizations need to carefully tread the path towards digital transformation with a concrete strategy to harness its strengths and mitigate its challenges.
We believe that digital transformation is first and foremost a business transformation. People, not technology, are the most important piece in the digital transformation puzzle.
Digital transformation has become the ultimate challenge in change management because it impacts not only industry structures and strategic positioning but all levels of an organization (every task, activity, process) and its extended supply chain. Leaders must constantly challenge their organizations to ensure that this technology-enabled change can unlock productivity gains and significant competitive advantage and understand where and how the fundamentals of their current operations could be unsettled by agile new entrants or new business models.
New research from Capgemini Consulting and MIT Sloan Management Review reveals why organizations are struggling to drive Digital Transformation and the need for C-level leadership. The study – involving over 1,500 executives in 106 countries – reveals that while the potential opportunity of Digital Transformation is absolutely clear, the journey to get there is not.