About the Book
Leading Digital makes the provocative argument that the next imminent phase of digital technology adoption – driven by the convergence of mobility, analytics, social media, cloud computing, and embedded devices – will make everything that's happened so far look like a prelude. The authors, a trio of highly regarded thought leaders on corporate digital transformation, say changes in the digital realm so far have focused on high tech and media companies – but there's still a whopping 94% of the business economy that needs to change. This book will show them how.
George Westerman of MIT, Didier Bonnet of Capgemini Consulting, and Andrew McAfee, also at MIT, say there is opportunity for these businesses to learn from those that have already mastered the digital landscape. Based on a study of more than 400 large, mainstream firms in every industry around the globe, the authors usefully break down how these organizations have used their own digital transformation to gain strategic, competitive advantage. Readers will learn how these digital leaders have transformed their businesses through smart and rigorous digital investments, and through committees and effective leadership of the change.
How to become a digital master in 12 steps
Digital Mastery Matters in Every Industry
Digital mastery is a combination of two separate but related dimensions .The first, digital capabilities, is investment in technology-enabled initiatives to change how the company operates. Firms maturing in the second dimension, leadership capabilities, are creating the right conditions to drive digital transformation throughout the organization. Leadership capabilities include the vision to shape a new future, governance and engagement to steer the course, and IT/business relationships to implement technology based change.
Digital Mastery By Industry
Digital transformation is moving more rapidly in some industries than in others. Companies in the travel and music industries were hit early by threats from digital competition, and have already undergone profound transformation, but still have more challenges to face. Industries such as financial services and retail underwent major transformation due to electronic commerce in the 2000s, and are now starting to innovate with technologies such as social media, mobility and analytics. Other industries, however, have yet to be hit hard by fast-changing technologies.
Four Levels of Digital Mastery
Digital Masters represent excellence on both digital and leadership dimensions. Beginners are just at the start of the digital journey. As a result, Beginners have only basic digital capabilities. And they lag behind their competitors on multiple measure of financial performance. Fashionistas are not waiting to act. They buy every new digital bauble. However, because they lack strong digital leadership and governance, they waste much of what they spend. Or they find that they need to reverse what they've done so that they can integrate and scale their capabilities. Although Conservatives have useful digital leadership capabilities, excess prudence prevents these firms from building strong digital capabilities. This caution can be useful, but it can also create a governance trap that focuses more on controls and rules than making progress. By focusing on control and certainty, Conservatives find it hard to mobilize top management – and the rest of the organization – to see the bigger prize that digital transformation can bring. Digital Masters have overcome the difficulties that challenge their competitors. They know how and where to invest, and their leaders are committed to guiding the company powerfully into the digital future. They are already exploiting their digital advantage to build superior competitive positions in their industries.