The phrase “digital transformation” often evokes skepticism. Despite (or perhaps in spite of) the fact that it has been in common parlance for over 10 years, digital transformation strategies can be interpreted as vague, and are easily misunderstood. It’s no wonder that 26% of the executives surveyed by Harvard Business Review Analytic Services report that one of their biggest organizational challenges is the lack of a clearly defined digital transformation strategy. Yet in this year’s survey—the third annual one by Harvard Business Review Analytic Services—an astounding 95% of executives report an increased importance of a digital transformation strategy within their industry—the highest percentage recorded to date. What could explain the increase? In a word, Covid-19. The global pandemic has darkly underscored the imperative to use technology as a lever to change how organizations achieve their goals. Covid-19 has put our digital transformation strategies to the test. The widening gap between those who are able to swiftly and successfully respond to change—and those who aren’t—is validating the value of a digital transformation strategy. In other words, the hype is real.
Accelerating Transformation for a Post-Covid-19 World
