Fast Facts: Devil’s in the digital details
A global survey suggests CEOs and CMOs are driving digital change, but legacy structures are in the way.
The Strategy article, “Fast Facts: Devil’s in the digital details,” quoted Russell Reynolds Associates Consultant Chris Davis and Tuck Rickards. The piece featured Russell Reynolds Associates' research, "Digital Pulse: 2017 Outlook & Perspectives from the Market." The article is excerpted below.
A new study of 1,500 senior business executives from Canada and around the world suggests the business community has reached an “inflection point in the life cycle of digital transformation,” but structural and talent issues remain major blockades to progress.
The survey, conducted by recruitment firm Russell Reynolds Associates, shows the senior-level support for digital transformation at most large scale corporations is strong. However, once a company decides to move forward with a new agenda, putting it into practice remains tricky.
“Digital transformation’s greatest barrier is organizational ambiguity,” says Chris Davis, executive director at Russell Reynolds Associates in Toronto, in the report. “Many companies are struggling to coordinate the roles played by core digital teams, IT, and marketing. Successful digital strategies require an integrated approach with clear delineation of governance and decision rights, and the institution of joint metrics across shared areas of oversight.”
“We are at an inflection point in the life cycle of digital transformation,” says Tuck Rickards, managing director of Russell Reynold’s San Francisco office. “Companies are taking an integrated organizational approach to blend the old with the new in order to create seamless customer/client experiences. In addition to creating centralized end-to-end tech platforms, best-in-class companies are leveraging data analytics, embedding digital talent across the organization, and reorganizing around a detailed mapping of their customers’ journey.”
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