Why Digital Transformation Can Fail
After years of hearing about large-scale digital transformation efforts at major corporations, MIT IDE research scientist, George Westerman (pictured, right), and IDE Fellow, Thomas Davenport (pictured, left), question whether that is the right tack to take.
In the March 9 issue of Harvard Business Review, the authors examine why so many high-profile digital transformations--such as GE, Burberry, Lego, Nike, and Procter & Gamble--end up disappointing shareholders and failing to meet performance expectations. Why didn't these digital bets pay off?
The researchers offer several explanations that go beyond over-exuberance and slowing markets. For instance, they say, the multi-faceted , ongoing nature of digital transformation throws off even the best and brightest executives. Moreover, timing--being out front, but still understanding the market--is critical but often difficult to get right.
Read the full article here.