26 Jul The case for digital reinvention via @McKinsey
In the quest for coherent responses to a digitizing world, companies must assess how far digitization has progressed along multiple dimensions in their industries and the impact that this evolution is having—and will have—on economic performance. And they must act on each of these dimensions with bold, tightly integrated strategies. Only then will their investments match the context in which they compete.
Sourced through Scoop.it from: www.mckinsey.com
WHY IT MATTERS: dating back to 2017, 2 years ago, this study would benefit from an update of the penetration numbers. However, some of the conclusions remain valid. Specifically, not all investments in digital are beneficial and it is essential to measure returns and invest across the whole process map as per this quote from the article:
"As executives assess the scope of their investments, they should ask themselves if they have taken only a few steps forward in a given dimension—by digitizing their existing customer touchpoints, say. Others might find that they have acted more significantly by digitizing nearly all of their business processes and introducing new ones, where needed, to connect suppliers and users."