According to an article published in The Economist, "the infusion of data-enabled services into ever more aspects of life", shall be the most evident consequence of the enduring Covid-19 pandemic. Digital transformation is expected to have greater importance for companies in the future, very shortly.
A 2019 survey of CEOs, directors and some senior executives discovered that their #1 concern was risk involving the digital transformation. However, 70% of their initiatives towards this motion failed to meet its goals. Of a whopping $1.3 trillion spent on the new endeavors in 2019, unfortunately, $900 billion was wasted.
Why?
Fundamentally, digital transformation teams fail, despite the possibilities for growth and efficiency gains, as people lack the mindset to a shift. With flawed organizational practices, it is extremely difficult to transform completely. Moreover, digitization would magnify the flaws, only to make it appear bigger.
What is Digital Transformation?
When you bring in a new system into an organization, it is only obvious to get a little hyper with the plans for implementation, specification, and counting.
Digital change is one of the most critical processes today, which ensures organizations are relevant as well as profitable in this competitive market.
The process involves integrating innovative technologies and services into existing business practices and streamline operations. The idea is to improve and add greater value to the final product. This involves adding new tools and applications, storing data, recording information, and a lot of new techniques.
That's of course, the digital aspect of things. But, if you spare a thought, we are talking about "transformation", which means introducing innovative ways to work with the existing team.
Tricky, right!
Anybody would be willing to buy a new set of digital suites with the latest tools, but who would run it? The key here is to ensure that the talent, or people, onboard, and the company culture is prepared to adapt. A successful transformation is change management, and people can only make it happen.
Getting Your Team Involved
Any change is difficult. If you want to introduce major changes in your organization, you have to ensure everyone is with you, and not only your leadership team. Yes, you cannot let the team take big decisions for the organization, but involving your team in a process can give better results.
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