A few weeks ago, McKinsey released Bullish on Digital, a short report on how companies are faring with digital technologies and strategies based on a recent online survey of 850 CEOs and other senior executives. The survey asked the executives about their companies progress and obstacles in embracing five major digital trends: big data and advanced analytics, digital engagement of customers, digital engagement of employees and external partners, automation, and digital innovation.
Adapting to the ongoing digitization of the economy, and of society in general, is arguably the most challenging transformation every business is facing, so it’s quite interesting to see what the McKinsey survey uncovered.
All-in-all, executives feel that their companies are, at best, about one-quarter of the way toward their digital business objectives. Organizational alignment and leadership are the critical factors in the success or failure of their digital strategies. But, despite the organizational and leadership challenges, they are generally optimistic that their companies are making progress and more fully embracing digital capabilities.