Certain cultural factors have always existed that have stymied organizational growth. In addition, there are certain factors, which have increased the complications for the digital age. A risk-averse work culture, division into silos and a lack of customer-centricity in decision-making are aspects untenable with the digital age. Cultural barriers form the biggest obstacles in digital transformations. It has a negative correlation with the economic bottom-line. Failures are asymmetrical with time, so no timelines can be drawn om future happenings. The digital age has further complicated matters by its winner-takes-all nature. ING for example is one company that has ridden through its transformation most effectively due to its agile management techniques. The employees have been provided additional management training sessions under executive coaches to wean them pout of unproductive practices. Frontline workers have been empowered as they are the ones who gauge the real time business intelligence on customer perceptions. In order to make bold strategic moves, digital aspirations need to be webbed into the company culture as Amazon, Nordstrom and the Irish bank AIB have repeatedly demonstrated. The resources available need be reallocated looking into this evolved scenario. All business decisions need to be taken around the data collected on customer requirements. For this, the data must be gauged from disparate parts of the organization.

Source:https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/culture-for-a-digital-age?cid=other-eml-ttn-mkq-mck-oth-1712

Uploaded Date:01 March 2018