MANAGING in the

NEW WORLD

Business transformations have always been difficult to pull off, but now even harder during the ongoing digital age. The rate of success is inherently low, as per the McKinsey Global Survey. Even digitally- savvy industries such as media, telecom and high- tech suffer from this tendency. A few factors though have been identified that are common to most such successful digital transformations. For a start, they have digital savvy leaders, who implement such transformations with zeal. These companies build capabilities for the future, by providing the existing workforce with the required corporate training. The regular tools used at work get a digital upgrade. Communication is the lifeblood of such businesses. So the people involved remain well connected via digital as well as traditional means. Such companies are also known for their humane talent management practices. As a result, the employees are empowered to innovate at the workplace.

Source:https://www.mckinsey.com/business-functions/organization/our-insights/unlocking-success-in-digital-transformations

Uploaded Date:12 June 2019

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