Management consulting publication Forbes has listed out certain ways in which organizations are preparing for the upcoming digital transformation affecting all aspects of business. It is important that organizations have a clear agenda for transformation and this must be defined by estimated numbers. The respective organization must follow the maxim of being expert in its own field yet it must have basic understanding of the entire stack of operations necessary for digitization. New opportunities are bound to be thrown open by collaborating with strategic partners who can provide necessary solutions. It has been understood historically that business ideas are bound to fail periodically, yet the concept now is that before actually failing the firm may pivot itself away to a new product strategy.

Source: http://www.forbes.com/sites/maribellopez/2016/01/09/preparing-for-the-digital-transformation-tsunami/#4aad3d66624e50a75777624e