#MillenniumLive , Healthcare , Podcast
As originally published by Nick Van Weerdenburg
Change is difficult, so most companies pull the bandage slowly, hoping to avoid the hard, painful part – especially with regard to digital transformation. But in the corporate world, cautious change inevitably leads to entropy. Progress gets made in one department at a time, at the expense of others. Leaders turn over, priorities shift, plans fall apart and the desired results never happen. The bandage never really comes off.
I see this happen a lot in companies that say they want to transform their digital customer experience – across all industries we work with. The board or the shareholders might not embrace a truly digital-first strategy or understand what the end-state transformation goal actually is. Instead, they end up digitizing the past, refreshening a longstanding brand with a new storefront in a doomed effort to maintain business-as-usual.
These companies start with a well-meaning internal innovation team. They preach agility, then spend months researching the problem and consulting internal stakeholders, all the while trying to stay close to their comfort zone of existing practices. They write reports, they create roadmaps, run design-thinking workshops and come up with a solution … and then throw it over the wall to IT and wash their hands of it. Nine months later, the team is busy executing the new plan, but, with no internal champion, it can’t innovate. Due to the chaos and complexity of the project, the company burns through its budget and the project becomes a sad statistic. In fact, 95% of corporate digital transformations fail outright or produce diluted results, according to one recent study.
Go here to read the full article
Contributor
Do you have content that you feel will
resonate with our audience? We'd love to
welcome you as a guest contributor!
Diary?
Premium content to our readers
interested in all things business.
Millennium Membership offers Fortune 1000 C-Level executives, leading public sector/government officials, and thought leaders across a variety of disciplines unique and exclusive opportunities to meet their peers, understand industry developments, and receive introductions to new technology and service advancements to help grow their career and overall company value.
About Millenium AllianceLaunched in 2017, Digital Diary was created to provide premium content to our members interested in executive education and business transformation. With C-Suite executive and top academic contributors, interviews with industry leaders, and digital transformation insights from technology experts, Digital Diary has all of the professional development tools you need to stay ahead of the curve.
We are dedicated to distributing meaningful opportunities for our reader to increase their personal knowledge, simplify business initiatives, and to have the right information to build their capabilities and leadership skills at every level.
In the midst of disruption across all industries, our members are given the tools they need to digitally transform their organizations.
Millennium Member?
Interested in Learning More?
Reach out to us or
keep learning
Check Out Our Events Check Out Our Community Dinners
Check Out Digital Diary