Business Strategy

Is it about our digital budget or is it about having the right strategy, people and processes in place. It may not be “either/or” but it is clear that budget alone won’t get us there.

We need excellent strategies executive by outstanding people. That will with the way.

This year’s survey asked respondents how their companies spend on digital and organize their digital work, as well as the goals, challenges, and best practices they see across these initiatives. Many respondents agree that their companies’ digital programs are growth oriented, that future spending on digital will increase, and that a large portion of future company growth will be driven by digital efforts. But organizational challenges and a dearth of talent are common, significant hurdles that prevent companies from scaling up their digital efforts or seeing clear returns on their investments. So are limited accountability and a poor understanding of potential value. Less than 40 percent of executives say their companies have accountability measures in place, either through targets, incentives, or “owners” of digital programs, while only 7 percent say their organizations understand the exact value at stake from digital.

via The digital tipping point: McKinsey Global Survey results | McKinsey & Company.