You have heard about it, read articles about it, or are potentially even practicing it today. A relatively new, often misunderstood term, Digital Transformation has become increasingly popular in the business scene.
And it is not going away.
In less than 2 decades, we have seen more than halfof the Fortune 500 companies disappear, whether it be through mergers, acquisitions or bankruptcy. Guess who has replaced them? The businesses that are paving the way in a new digital world - The Facebooks, Amazons, Ubers and Zappos of the world.
Technology has not only happened to us, it has caused a paradigm shift within us (society), and the way we live our lives. Inevitably, it has reached businesses who now struggle to meet the challenges of an aggressive pace of digital disruption, often left at a loss as to where to begin changing.
As surprising as it may seem, digital transformation starts with people. The biggest change is not about the shifting technology, focusing on customer experiences, or finding the right product set to run a business. Although not easy, these shifts are all doable!
The magic happens when people are able to break through legacy business culture.
As straight forward as this may sound, our leaders are struggling with taking on, supporting, and encouraging digital transformation.
A testimony to this challenge is the way most leadership teams run.