User:Sugahgal88/Digital Business Transformation
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Digital Business Transformation new article content ...Digital Business Transformation is the managerial process of creating alignment between the digital business strategy, organisational culture, closing digital competency gaps, agile innovation and tactical excellence.
The digital world is often sold as a paradise waiting to yield new opportunities and profits for anyone who cares to participate - all it takes is the right resource, technology and enough engagement to achieve success. So why are so few businesses achieving accelerated growth in 2015?
Digital is the biggest business opportunity since the industrial revolution but the flip side is that organisations that do not change and transform their business have 10 years, at best, before their competitors displace them.
40% of Fortune 500 companies listed in 2000 no longer existed in 2010 (source Babson Olin School of Business Fast Business Report) As customer behaviours change due to the ubiquitous spread of technology, there is massive opportunity to be had. There are accelerating powers for rapid growth, created as a direct result of the web that were unthinkable 10 years ago. There are opportunities to create great new businesses niches.
Capgemini and MIT research (2014) found that companies who are mastering Digital Transformation are on average 26% more profitable than their industry peers.
Success however is won or lost by the decisions, directions and ambitions created in the boardroom. It’s not just about technology.
Digital success starts with the business leaders giving the right strategic direction - based on evidence and actionable outcomes.
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