As a business executive in today’s highly technological world, being effective at managing staff isn’t always enough.
With the recent trend of digital enterprises taking hold of almost every industry on a global level, business executives and managers have to become effective digital leaders as well. This means that many businesses need to stop experimenting with digital and commit to becoming fully digital businesses if they want to grow and succeed.
In a recently published article entitled, “4 Traits That Set Digital Leaders Apart From 97% of the Competition,” author and expert, Vivek Bapat, writes:
“An overwhelming majority (96%) of digital leaders view digital transformation as a core business goal that requires a unified digital mindset across the entire enterprise. But instead of allowing individual functions to change at their own pace, digital leaders prefer to evolve the organization to help ensure the success of their digital strategies,” adding that the study found 56% of these businesses regularly shift their organizational structure, which includes processes, partners, suppliers, and customers, compared to 10% of remaining companies. Plus, 70% actively bring lines of business together through cross-functional processes and technologies.
“By creating a firm foundation for transformation, digital leaders are further widening the gap between themselves and their less advanced competitors as they innovate business models that can mitigate emerging risks and seize new opportunities quickly,” he writes.
What does it take to be a transformative digital leader?
Bapat argues that for any company looking to catch up to digital leaders, the conversation around digital transformation needs to change immediately to combat what he calls his “three deadly sins”: “Stop investing in one-off, isolated projects hidden in a single organization. Stop viewing IT as an enabler instead of a strategic partner. Stop walling off the rest of the business from siloed digital successes,” he writes.
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