Business Chief USA August 2020

DIGITAL STRATEGY
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“A company’s financial pressures
will shape the sequencing to some
degree. So will its IT, if legacy systems
restrict initial choices. Companies
must be more flexible. It could prove
hard to recruit the particular people
needed, while technology and customer
behaviour will continue to
evolve. When initiatives are successful
and deliver the intended financial benefits,
the board and top team should
be emboldened to push to achieve
more,” states McKinsey. As a result
the establishment of ‘easy win targets’
in order to build the momentum for
the projects – known as a ‘lighthouse
project’ – could be a key way to build
support. These short term and well
defined projects act as a measurable
model for projects going forward that
are perhaps more broader.
As an increasing number of organisations
look to design a digital
transformation strategy, there has
also been a rise in the need for skilled
talent, in particular a Chief Digital
Officer (CDO) to lead the digital
disruption and innovation. Recent
statistics show that 19% of top global
companies now have a CDO – 60%
AUGUST 2020