CEO Goals – Digital Transformation Is Your Call to Action
Digital transformation has created a paradigm shift in businesses, work, and responsibilities. Meanwhile, CEO goals have shifted to new business areas and enhancing digital transformation. They will guide their firms toward radically different business models in the coming years. The CEOs, who are innovators in corporate strategy, will inevitably focus on business results and creating income. They will collaborate closely with other leaders to understand how business units generate revenue. Furthermore, they will analyze areas subject to competitive pressure, utilizing their experience to develop solutions designed to enhance top-line performance. In this article, the McKinsey Digital team’s Kate Smaje and Rodney Zemmel discuss digital transformation with Lucia Rahilly of McKinsey Global Publishing.
Digital transformation may not be as challenging as you think. Executives that aspire to succeed know what success looks like and what can hinder it. While digital transformation has become the norm, many CEOs are still saddled with questions concerning its execution and delivery.
Why Digital Transformation Is a CEO’s Goal
Becoming digital is not the goal of digital transformation. Businesses that receive the full value from digital transformation differ significantly from those that receive only a shadow of it due to the absence of a clear, integrated, top-down road map of where that value is. CEO goals include increasing the business value of the company. Digital transformation fails when each leadership team member builds their own digital road map. This leads to disparate digital pilot projects that ultimately fail due to varying objectives. Executives must discuss their digital strategy with all leaders and set a goal that needs to be agreed to by all contributors. In addition, many companies find it challenging to identify or measure that value because they do not have a consistent and aligned approach.
The authors also discuss tips for getting started with digital transformation, setting metrics, and upgrading existing tech talent. They also emphasize talent diversity, problem-solving, and adopting new trends.
To read the original article, click on https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/digital-transformation-on-the-ceo-agenda
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