Across almost every industry eligible for change, digital transformation has been the agenda of the business for some time now. Digital transformation can be described as the change in the way a company operates, in order to become an organization that is agile, data-centric, and capable of evolving rapidly. However, research shows that 70 percent of digital transformation projects fail to reach their stated goals. This is often because these projects are built from bottom up. In order to successfully undergo digital transformation, there has to be a collaboration of minds that is led from the top and requires every member of the board to play a vital role in the process.
Here are four reasons why digital transformations should be a top down process.
Role of the Board
It is essential that the c-suite must be engaged in the process of the digital transformation project in some way or the other. The CEO of the organization must take the lead and guide the company along the right path, leading from the front by example. He/she should choose the direction for the future of the company. The CIOs must decide how the flow of information has to change and who will be responsible for what information. The organization must reinvent their customer engagement strategies to adapt to a more digitally balanced environment.
As a whole, the executive level must also look at security and information ownership challenges that digital transformation may bring about, all of which are subject to radical change as the business model evolves. During the process of digital transformation, organizations often experience a difference in the work culture; from one that is hierarchical to one that is agile and has room for freedom. It is important that during this phase, the Human Resources department is heavily engaged and supportive of the digital transformation process.
Finding the right Approach
Each member of the c-suite plays a significant role in the digital transformation of an organization. Too much change at once is not a feasible approach and is one where the c-suite is likely to lose control of things. Hence, a contained approach to digital transformation is preferred by most organizations. In this way, the company can learn and...
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