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It’s an interesting question and one that a connection on LinkedIn, Ian Patterson, recently asked. His aim was to collate 300 answers from around the world into one single blog post. You can read more here. In the meantime, here was my own answer:
Exponential change driven by the convergence of digital technologies means there is no end state. What digital transformation actually means is; striving for a condition of adaptability.
The driving focus must, therefore, be on generating value and increasing efficiency. The organisation must act as a living organism with responsibility and accountability devolved across the organisation. Collaboration is vital.
For most organisations, digital transformation means the successful adoption of digital technologies to reach this adaptive state, but the real opportunity is to innovate and find new disruptive ways of generating value. Most will fail to disrupt and some will successfully adapt but I believe that those weighed down by legacy systems, culture and the tending to cash cows will fail and so erode as value shifts to the disruptors and those best able to adapt to them.
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