More proof that just digital transformation is not enough. Too many analogues just want to digitise existing processes.
Start with the customer, a blank (digital) page and reinvent business models. Recruit people already proven to effectively disrupt analogue competitors.
There is still time to leapfrog the half-hearted taking this approach.
Read McKinsey's report (link at bottom of this article) and see "How companies can catch up to the digital revolution"
Digital reinventors, in contrast, are embracing digital with both their investments and their strategic decision making. Our results indicate that companies in this group are not only investing more in digital but also investing and executing differently. The reinventors are investing at scale in technology, analytics, and digital talent—not just playing on the margins—and investing much more aggressively in business-model innovations or entirely new business models.
