The seven habits of highly effective digital enterprises

Based on their experience and dozens of case studies McKinsey concludes; “To stay competitive, companies must stop experimenting with digital and commit to transforming themselves into full digital businesses” The research came up with the following seven “less obvious” habits.

  1. Be unreasonably aspirational. Make someone accountable at the board level; create a stretch vision; measure digital value not digital interactions.
  2. Acquire capabilities. Buy scarce talent en masse ; hire for digital skills not industry experience; move into adjacent markets.
  3. ‘Ring fence’ and cultivate talent. Protect digital talent from business as usual; don’t rely on existing HR models
  4. Challenge everything. Don’t accept historical norms; question the status quo; create a plan covering ‘everything’
  5. Be quick and data driven. Continually evolve your value proposition; embrace live testing; create a data-based view of each customer
  6. Follow the money. Create a zero-based tech budget aligned with value at stake, invest across the value chain; scale successes rapidly
  7. Be obsessed with the customer. Learn from every interaction; relentlessly evolve and improve the customer experience

The complete article can be found at mckinsey.com

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