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Saturday, January 27, 2018

Why Digital Strategies Fail

Thoughtful piece on the topic:

Why digital strategies fail
By Jacques Bughin, Tanguy Catlin, Martin Hirt, and Paul Willmott in McKinsey

Most digital strategies don’t reflect how digital is changing economic fundamentals, industry dynamics, or what it means to compete. Companies should watch out for five pitfalls. .... 

We find that a surprisingly large number underestimate the increasing momentum of digitization, the behavioral changes and technology driving it, and, perhaps most of all, the scale of the disruption bearing down on them. Many companies are still locked into strategy-development processes that churn along on annual cycles. Only 8 percent of companies we surveyed recently said their current business model would remain economically viable if their industry keeps digitizing at its current course and speed. ... " 

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