09 Jun 2017
The fourth article in our series on ‘Accelerating Transformation’ provides practical advice on developing an agreed digital vision and strategy for your organisation.
As argued in Part 1, most senior executives now accept that their organisations need to transform digitally. It is somewhat surprising, therefore, that many have not yet developed a coordinated digital strategy or transformation roadmap for ‘getting there’ – a digital strategy and roadmap that matches agreed business goals and outcomes with specific technology solutions.
Back in 2014, Forrester Research reported that only 17% of companies with 1,000 to 10,000 employees had a clear vision and strategy for digital transformation. A more recent study, published earlier this year, suggests that limited progress has been made since then with only 26% of the 1,124 industrial companies surveyed having a ‘well articulated digital transformation strategy.’ While the majority of respondents accepted that digital transformation is critical to the future success of their organisations, most were still adopting a wait-and-see approach.
Similar 2017 results were reported by Didier Bonnet, one of the main authors of the highly acclaimed ‘Leading Digital’ book. Most large companies, according to the author, are struggling to successfully implement digital transformation with the majority of boards having a long way to go before they are mastering the digital challenge.