Information Technology Foresight

The latest thinking on creating competitive advantage through information technology.

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The no-excuses way to win in a digital world.

You might think your company is moving into the digital world successfully. But maybe you should think again. Recent findings show that even the most ambitious digitally-enabled companies—those looking to completely change the nature of their businesses—must work hard to make digital progress.

8% The small proportion of Redefiners – companies that use digital technology to redefine their core business model—that are also top financial performers.

This month’s issue of IT Foresight features “The no-excuses way to win in a digital world.,” an interactive summary of our annual Digital IQ study. This year, we divided the more than 2,200 respondents into four categories depending on their digital aspirations—Efficiency Seekers, Modernizers, Industry Explorers, and Redefiners. What’s your company’s approach to digitization? Find out what makes each group unique and how you can improve your company’s chances for digital success.

Featured Foresights

The No-Excuses Way to Win in a Digital World
PwC article
This year’s new, interactive approach to our annual Digital IQ study provides an in-depth analysis of how companies in every industry are responding to the challenge of digitization. Our analysis shows that companies’ aspirations for digital transformation fall into one of four buckets—Efficiency Seekers, Modernizers, Industry Explorers, and Redefiners. Any of these strategies can lead to digital success, but only 8 percent of respondents are top financial performers. There is a formula for their success. It involves moves these companies have made in their approach to digital around leadership, experience, ways of working, and approaches to digital disruption. Whatever your company aspires to become, there’s a path to digital success.
Redefiners Are Doing Digital Right
s+b article
The Redefiners—the most ambitious of the four types of companies using digitization to boost their business—expect their digital efforts to transform their core business model and change the way they operate. The most successful of these companies typically embrace the mind-set of constant innovation, flat decision making, and integration of technology throughout the business, and their top leaders actively support these efforts. Above all, Redefiners have embraced a core idea: go digital or go home.
The Four Building Blocks of Transformation
s+b article
Putting your company through a major transformation can be a terrifying proposition. But it can be done, and done well. This article offers four steps to success: First, create a strategic identity and connect it clearly to your most distinctive capabilities and skills. Then design for trust so you can generate real commitment on the part of customers and employees alike. Third, master the pivot from sprint to scale—test new practices first, then scale them up. And finally, treat the best parts of your legacy operations as an asset and sell off the rest to fund the transformation.