Big Firms Struggle with Digital
Marketing research and analysis firm, Warc, recaps Tuck Rickards and Jeffrey F. Rayport’s article on digital talent in the fortune 500 originally published by The Harvard Business Review.
Jeffrey Rayport, of Castanea Partners, a private equity firm, and Tuck Rickards, of Russell Reynolds Associates, the recruitment firm, assessed the new media capabilities of firms in the Fortune 500.
Only nine were "highly digital", defined as having major business operations enabled by this medium, generating major revenues via this route, boasting board members expert in this channel, and holding a "transformational" reputation among their peers.
Moreover, just seven members of the Fortune 100 met these criteria, and a modest 13% had boards of directors that were well-schooled in this field.
"It's no news to confirm that technology companies - such as Amazon, Apple, Cisco, Dell, HP, Google, Intel, Microsoft, and Oracle - have boards awash in digital expertise," Rayport and Rickards wrote in the Harvard Business Review.