Disruption is waiting around the corner. Speed is of essence. Delay is not useful.
Now is the time to have a sound, effective and speedy digital strategy. Transformation is essential.
Ray Wang, at Constellation Research, makes the point very well.
Unfortunately, in almost every segment, the top three competitors control 43 to 71 percent of the market share and 53 to 77 percentage of the profits. In the technology space only 80 companies since 2000 have made the billionaire’s club. Meanwhile, intense competition, short-term shareholder and management thinking, and minimal investment hamper the pace of investment and innovation required by business leaders to survive today’s competitive landscape.
While boards have not been complacent about addressing change, the past five years have shown the difference between those who invested in digital transformation and those who have not. The corporate digital chasm is massive among market leaders, fast followers, and everyone else. Astute board members realize they must invest in transformational change for face a vicious Digital Darwinism.