Surviving in a digitally disrupted world is one thing - but what does it take for an organisation not just to endure, but to thrive?
The opportunities to thrive are plentiful. Seventy-two percent say that the digital disruption is creating exciting opportunities for their organisation. Digital may cause concern for some, but few reject the idea that it also creates compelling chances to get ahead.
The response to digital disruption is increasingly unlikely to be driven by silos.
Digital disruption is a board level issue
Nearly half of business leaders say that responsibility falls with their combined leadership team. These executives are exploring a diverse range of strategies in pursuit of digital success.
Chief amongst these is investment into new technology, selected by 61% of respondents. 55% also say that their organisation has changed its strategy in order to exploit the digital opportunity.
And while more have invested in talent and skills and refined their processes, 22% have embraced a change of leadership to better ready themselves.
Technology is at the core
Business were asked the biggest factor hindering their ability to respond to digital disruption:
40% said ageing technology and infrastructure
33% stressed that a fear of change or their organization’s internal culture is problematic
22% said a shortfall of skills and talent
18% noted a lack of understanding amongst leadership
Therefore, it's little wonder that 73% of business leaders also say that technology lies at the heart of their organisation’s ability to thrive.