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1. • • Yet success in these transformations is proving to be elusive. While our earlier research has found that fewer than one-third of organizational transformations succeed at improving a company’s performance and sustaining those gains, the latest results find that the success rate of digital transformations is even lower.
     www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/unlocking-success-in-digital-transformations

     The keys to a successful digital transformation | McKinsey

2. People also ask

   Are digital transformations a success or a failure?

   • Digital transformations are even more difficult than traditional change efforts to pull off. But the results from the most effective transformations point to five factors for success.

   The keys to a successful digital transformation | McKinsey

   www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/unlocking-success-in-digital-transformations

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   How important is digital talent to Transformation success?

   • Transformation success is more than three times likelier when respondents say their organizations have invested the right amount in digital talent. Success is also more likely when organizations scale up their workforce planning and talent development (Exhibit 3).

   The keys to a successful digital transformation | McKinsey

   www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/unlocking-success-in-digital-transformations

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   Why are digital transformation and business strategy tied together?

   • There are several reasons why digital transformation and business strategy are so closely tied together: 1. Changes in customer habits and preferences Organizations must respond to customers’ increasing pain points and needs. Customer expectations have changed since the pandemic began and organizations must change to meet them.

   How to Build a Successful Digital Transformation Strategy | IBM

   www.ibm.com/think/insights/digital-transformation-strategy

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   Do Organizations look inward when making digital transformations?

   • For one, organizations tend to look inward when making such changes. The most commonly cited objective for digital transformations is digitizing the organization’s operating model, cited by 68 percent of respondents.

   Unlocking success in digital transformations - McKinsey & Company

   www.mckinsey.com/~/media/McKinsey/Business Functions/Organization/Our Insights/Unlocking success in digital transformations/Unlocking-success-in-digital-transformations.pdf

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   Why are organizations investing in digital transformation?

   • Organizations are increasingly investing in digital transformation as a way to maintain or grow a competitive advantage. Organizations implementing successful business transformations are more likely to grow their existing businesses, eliminate silos, create revenue growth and business models and reinvent how they handle their operations.

   How to Build a Successful Digital Transformation Strategy | IBM

   www.ibm.com/think/insights/digital-transformation-strategy

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   How do companies embrace digital transformation?

   • Digital transformations require cultural and behavioral changes such as calculated risk taking, increased collaboration, and customer centricity, as our previous research has shown. In this survey, the results suggest two primary ways in which companies with successful transformations are empowering employees to embrace these changes.

   The keys to a successful digital transformation | McKinsey

   www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/unlocking-success-in-digital-transformations

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3. www.mckinsey.com › capabilities › people-andThe keys to a successful digital transformation | McKinsey

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   Oct 29, 2018 · The 21 keys to transformation success are the practices with the highest Shapley values. the following are those that best explain the success of an organization’s digital transformation: Implement digital tools to make information more accessible across the organization.

4. hbr.org › 2022 › 01The 4 Pillars of Successful Digital Transformations

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   Jan 28, 2022 · Which pillar is the right starting point for your company depends on your context, needs, but also your digital maturity.

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6. www.mckinsey.com › ~ › mediaUnlocking success in digital transformations - McKinsey & Company

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   As digital technologies dramatically reshape industry after industry, many companies are pursuing large-scale change efforts to capture the benefits of these trends or simply to keep up with competitors.

7. hbr.org › 2023 › 07The Value of Digital Transformation - Harvard Business Review

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   Jul 31, 2023 · Summary. While 89% of large companies globally have a digital and AI transformation underway, they have only captured 31% of the expected revenue lift and 25% of expected cost savings from...

8. www.mckinsey.com › featured-insights › themesHow top-performing companies approach digital transformation

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   Mar 23, 2024 · Their focus is never just tech—it’s also strategy, talent, operating model, data, and scale and adoption. Check out these insights to understand how your organization can rewire to capture value—or risk joining the pool of increasingly distant laggards.

9. www.forbes.com › councils › forbestechcouncilSix Keys To Successful Digital Transformation - Forbes

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   Jan 25, 2023 · Your success will depend on anticipating and avoiding looming pitfalls. Here are six tips to help ensure a successful digital transformation.

10. www.ibm.com › digital-transformation-strategyHow to Build a Successful Digital Transformation Strategy | IBM

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    Digital transformation is top of mind for so many organizations and executives because it can contribute to important business outcomes and create increased adaptability in a hyper-competitive marketplace. But what is a digital transformation strategy and how does an organization successfully execute it?