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Management SummaryStern Stewart Research // Volume 67
Digitization has been a high priority of CEO’s for a long time now. But as soon as the first “digital awakening” is over, the topic is often delegated to areas like product development or IT. Specially established teams of competent experts led by a CDO focus on making the digital transition happen. In most cases, however, they have no real executive mandate. Nonetheless, any show of determination must be followed by the unequivocal identifica-tion of any potential impacts on the company, beyond mere abstract megatrends. At the same time, the focus must not be solely on technical innovations or disruptive business models. Without the appropriate management and organizational models, digital recon-struction will remain just a piecemeal affair.
Yet how can changes be spotted at an early stage? How can the required adaptability be achieved? And how can flexibility and reaction times be improved? Also, do we really all need to become as agile as startups? Furthermore, are we prepared to accept that a high proportion of companies will fail? The aim must be to identify the opportunities presented by the digital age and systematically exploit them. Agility is definitely the right way to achieve this aim. Equally important, however, is the direction from which you start out toward it.
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