MIT has segmented companies into levels of digital transformation maturity — those that have digitally transformed, those that have not, and those that fall somewhere in between. The companies that have digitally transformed have invested well in both technology enabled initiatives and leadership capabilities.
By 2018, one third of the top twenty market-share leaders in most industries will be significantly impacted by new competitors — and “reinvented” incumbents — that proactively apply digital technologies to create new services and associated business models.
“As I think about the necessary components for a tech ecosystem to thrive, I see it as a set of interlinked and interdependent building blocks. The basic and required base is a healthy supply and access to technical talent. If “software is eating the world” you need founders and team members who can build said software.”
Only 16% of organizations are leveraging digital technologies to develop new business models. Most organizations follow traditional approaches to innovation that focus on new products and services, rather than on business models.
Business executives want growth and innovation, but enterprises have to contend with legacy IT infrastructure and applications, and suffer from a lack of digital business and technology skills, at a time when budgets are up only slightly.
Demands for a solid customer experience as well as new products and competition are forcing B2B marketers to master the art of innovation. While they acknowledge the need to innovate, roadblocks abound — and they’re mostly centered around close-mindedness.