Linkedin – Wai Leong Chan
Catching the Right Bus for the Digitalization Journey
Eric Salmon & Partners recently released a report on digitalization based on a survey of 400+ leaders in Asia and Europe. Although 95% of companies have incorporated digitalization into their corporate strategies, only 40% have established a central role responsible for the digitalization journey. However, not every company needs to go fully digital overnight. Some companies that are physical and offline might need to become digital and online, like how Blockbuster should have become Netflix. Others with products that cannot be digitized (for now) can start with the encouragement of many digitalization efforts all across the organization. Talent is of course an issue. Companies can leverage pure-play online companies to enjoy digitalization benefits. Another issue is to have a champion, in addition to the CEO and the Board. Internal naysayers may also be a major issue for some. Still, companies should start on the journey rather than wait for the perfect strategy to be developed.