Investments in Digital Initiatives are Still Too Small to Deliver on Business Goals
McKinsey&Company have released the results of their global survey “Minding your digital business“. Data from this survey was collected in April 2012 from 1,496 C-Level executives and the key finding was that while executives expect that new digital technologies will transform their business they are not prepared in developing capabilities and meeting the challenges. Here are some of the key insights:
Half of respondents say their investments in the digital initiatives are too small to deliver on their goals.
Management teams may lack clarity or a consistent concept about the investments needed to support digital business.
The key challenges in fulfilling the promise of digital technologies is the organisational structure and the shortcomings of their infrastructure and IT systems.
Management lacking clarity about the investment needed to support Digital is not new and is more complex than it has ever been considering the diverse Digital opportunities. Successful businesses’ will be the ones that have the right Digital teams, lead by the right people who know how to prioritise the right initiatives in driving towards executing a forward thinking strategy, while adapting to a changing environment, both internally and externally and constantly improving the speed to market across every initiative that is delivered. Don’t we all love a challenge?