In a recent McKinsey Global Survey of 2,190 companies, two thirds of those companies in pursuit of transforming their businesses into digital enterprises said that they were “just treading water, taking no decisive action, and consequently achieving little or no success.”
According to Harvard Business Review, researchers estimate that 70–90% of innovation projects fail. This includes new product innovations and business innovations that aim to change an existing market.
Is Innovation a strategic priority or an afterthought in your company? The myriad of new disruptive digital technology innovations have raised the leadership bar for success. Companies can no longer pay lip service to innovation as an addendum to their business growth strategy if they want to compete as viable digital enterprises.
Business leaders are taught from a very early age that winning is about beating their competition and being able to sustain that competitive advantage. Strategic planning models are filled with take-no-prisoners hyperbole and a what-it-takes-to-win vocabulary.
How well are you marketing the technology business value story in your company? Even though we are well into the second decade of digital disruption, it’s alarming to see how many companies still struggle to tell a compelling story of how technology delivers increased competitive performance and business value.
What percent of your company’s IT budget and resources are allocated to growing the business? While we are well into the second decade of digital transformation, it is alarming to see how many companies still allocate the majority of their IT resources and budget to running their business rather than growing…
How much are technical debt, process debt, and people debt costing your organization? CEOs and Boards are increasingly looking to digital technology as the primary source of new business growth and profitability. Increased corporate profits are directly related to a company’s ability to leverage digital capabilities and have resulted in margin and profit growth that is 2 to 3 times faster than industry averages.
Historically, companies had the belief that owning and controlling their assets was the key to creating sustainable competitive advantage and building high barriers to entry into their markets and industries. However, in the new world of ever constant digital disruption, companies no longer…
Are your best people working on things they are most passionate about? According to an earlier Korn Ferry survey, 33% of those changing jobs cited boredom and the need for new challenges as the top reason why they left.
As the old adage says, what gets measured gets done. So, if you are measuring the wrong things then the wrong things are getting done. Less than 30% of companies have a process in place to measure the return on investment of their digital technology projects.
