Digital transformation has been on the collective minds of most corporate board members in recent years. With the speed of innovation accelerating, boards may need to analyze how digital transformation is prioritized and managed within the organization.
The digital transformation playbook is changing for organizations of all sizes. Companies are moving from digitizing—focusing on operations and efficiency—to a more digital mindset, which means disrupting models within industries and doing things differently. And contrary to popular belief, digital transformation is not just about technology; instead, it encompasses people, process and technology.
Technology evolves very quickly, and when people see what is possible and how rapidly consumer and employee demands change, it’s natural to feel left behind. However, boards can take steps to make up digital ground and leverage innovation to gain an edge on the competition.