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SO many companies are talking about digital transformation yet few are actually dealing with it headlong. Appoint someone as the Chief Digital Officer, raising the budget for social media and digital marketing or even developing an app are all approaches yet none comprehensive enough. For this transformation to be holistic, a change in the mindset needs to be put in place. Traditional maxims need to be challenged. Manufacturing firms have targets about plants, property and equipment, consulting focuses on hiring and corporate training while retail values customer retention. For digital networks though such as Uber, Facebook or Visa, it is the size of the network and kind of interactions which must be evaluated. In order to genuinely invoke digital transformation, first of all the company needs to identify its value proposition. Once this is done, the core beliefs that lead to such results need to be uncovered. Then the core beliefs must be inverted to view from the other side. Extrapolation in depth must now be conducted. Once all this is done, it is time to act.

Source: https://hbr.org/2016/06/to-go-digital-leaders-have-to-change-some-core-beliefs

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