The digital transformation of organisations is in peril, with 70% of initiatives predicted to fail. To avert this crisis, CEOs must take six crucial steps. First, they must understand that digital transformation is not just about technology but a fundamental shift in how businesses operate. Second, they need to recognise that the transformation requires full engagement from the top, not just the IT department.
Third, they should adopt the Agile management approach, which promotes cross-functional teams and customer-centric operations, over the traditional hierarchical model. Fourth, they must realise that the transformation is a journey, not a destination, and it requires continuous adaptation.
Fifth, they should ensure that the transformation aligns with the company’s mission and values. Lastly, they need to promote a culture of learning and innovation, where failure is seen as a stepping stone towards success. By following these steps, CEOs can ensure the success of their digital transformation initiatives.
Go to source article: https://www.forbes.com/sites/stevedenning/2021/10/10/six-steps-ceos-must-take-to-save-their-digital-transformation/?sh=5d1ec49022af