Meeting evolving customer needs is the constant source of value in a world where everything is changing. The most successful transformations prioritize creating customer value and enhancing customer and employee experience. Nearly half of business leaders outside the C-suite (44%), for example, say organizational structure, silos, or hierarchy are the number-one obstacle to transformation at their firm.įocusing on customer value and empowering employees are keys to organizational evolution. The only way to keep up is for organizations to continually change and evolve, but most traditional businesses lack the strategic flexibility necessary to do this. Most survey respondents (81%) believe their organization is more adaptable than average and nearly all (89%) say that they're keeping up with or ahead of their competitors-suggesting a wide gap between the rapidly evolving reality and executives' perceptions of their preparedness.Īll organizations must build capabilities for continuous reinvention. The business environment is changing faster than many leaders think. Among survey respondents, however, transformation is still synonymous with tech, with 70% planning a new technology adoption in the next year, but only 41% pursuing changes to their business model. Adopting new technology for its own sake does not set the organization up to continue to adapt to changing circumstances. The report, " Evolutionary organizations reimagine the future," is produced in partnership with Thoughtworks and draws on a survey of 275 executives and business leaders along with in-depth interviews with digital transformation, business strategy, and emerging technology experts from organizations including Prudential Financial, PEXA, and INSEAD.ĭigital transformation is not solely a technology issue. CAMBRIDGE, Mass., Ma/PRNewswire/ - A new report by MIT Technology Review Insights seeks to understand how organizations approach transformation and the obstacles they encounter in adapting to a continually changing business and technology environment.
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