McKinsey’s framework for digital transformation strategy | IAM Network
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Clear targets, management buy-in, and targeting easy wins early are just some of the key aspects of a successful digital transformation, according to experts from McKinsey & Company. Firms should also look to rapidly up-skill the digital expertise of their workers, and deploy agile ways of working.
Digital transformation offers plenty opportunities, with organisations using it to improve their customer services, optimise their internal operations and innovate their way to a sustainable future. However, mounting evidence shows that digital transformations are easier said than done, with more than half of all UK projects estimated to fail at realising their desired goals.
To help firms develop successful transformation programmes, consultants from McKinsey & Company have highlighted ten key factors which can help a firm to realise its digital potential. According to an article published on the firm’s website by Tanguy Catlin, Johannes-Tobias Lorenz, Bob Sternfels, and Paul Willmott, just 16% of respondents say their organisations’ digital transformations successfully improved performance and also equipped them to sustain changes in the long term – but things like improved management buy-in and clear communication could be all it takes to see this drastically rise.
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