Strategy, not Technology, Drives Digital Transformation

Executive Summary

MIT Sloan Management Review and Deloitte’s 2015 global study of digital business found that maturing digital businesses are focused on integrating digital technologies, such as social, mobile, analytics and cloud, in the service of transforming how their businesses work. Less-mature digital businesses are focused on solving discrete business problems with individual digital technologies.

The ability to digitally reimagine the business is determined in large part by a clear digital strategy supported by leaders who foster a culture able to change and invent the new. While these insights are consistent with prior technology evolutions, what is unique to digital transformation is that risk taking is becoming a cultural norm as more digitally advanced companies seek new levels of competitive advantage. Equally important, employees across all age groups want to work for businesses that are deeply committed to digital progress. Company leaders need to bear this in mind in order to attract and retain the best talent.

• The following are highlights of the findings:
• Digital strategy drives digital maturity
• The power of a digital transformation strategy lies in its scope and objectives
• Maturing digital organizations build skills to realize the strategy
• Employees want to work for digital leaders
• Taking risks becomes a cultural norm
• The digital agenda is led from the top