How Do Businesses Prioritize Their Digital Transformation Efforts?
Digital transformation, a process by which organizations adapt their company culture, personnel and technology to succeed in today’s changing digital marketplace, is a key area of focus for many executives. While organizations scramble to adapt, many company executives admit that numerous challenges to implementation exist. What digital changes do they believe will be necessary to succeed?
One key area of focus for many organizations’ digital transformation efforts is picking the right individual to lead the process. According to a September 2016 survey of business executives worldwide about digital leadership by IIC Partners Executive Search Worldwide, the best person for the job is the company’s chief digital officer. However, respondents to IIC Partners’ survey were of two minds about the ideal background of a CDO: 45% said a CDO should have a technology background, while 43% thought that role should be filled by someone with a marketing background.
These results add further insight to an earlier survey by the Harvard Business Review examining which executives were assigned to lead efforts to build a vision for their companies’ digital technologies. In Harvard’s survey, more than 50% of companies studied had designated their chief technology officer to spearhead such efforts.
Although picking the right executive to lead digital transformation is critical, many organizations also face tough decisions when it comes to prioritizing what strategies will receive funding and attention. In IIC Partners’ analysis, having a mobile website was the top area of focus, with 84% considering it a very important element of a digital transformation strategy. Social media was the second most popular response, mentioned by 78% of respondents.