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Digital Transformation: Businesses that Focus on Culture are most Successful
80 percent of businesses say that they’re in the midst of digital transformation projects, but only 14 percent say that they’re seeing the benefits of the change, and only three percent say that they’ve had complete success, according to a study by McKinsey.
One key to getting it right is to get the culture right. It is important to align employees values and behaviors to be supportive of the digital transformation process. BCG analysts found that 80 percent of companies that focus on culture were able to achieve superior performance.
James Bilefield, senior advisor to McKinsey, said that “in my experience, culture is the hardest part of the organization to change. Shifting technology, finding the right talent, finding the right product set and strategy—that’s all doable, not easy, but doable. Hardest is the cultural transformation in businesses that have very deep legacy and cultural roots.”
Carey Oven, partner at Deloitte, said that “when organizations undertake digital transformation and focus only on technology at the expense of culture, that can hinder progress in many areas. Technology is definitely a part of digital transformation, but unless leaders can ‘win hearts and minds’ throughout the process, efforts can stall or be less successful than they could be.”
Real digital transformation requires reshaping the way the business create value for customers. Achieving this requires that organizations look at both dimensions of digital: digital customer experience and digital operational excellence.