Federico Caputo via Alamy Stock As organizations strive to meet their goals, integrating digital technology into analytics, artificial intelligence and machine learning, and cloud migration has become essential. The end game is to transform businesses’ operations, share information, and deliver customer value. While digital transformation promises increased efficiency, productivity, and reduced costs, its success fundamentally depends on people. Neglecting the human aspect of transformation is a recipe for failure from the outset. A BCG study on digital transformation found that 90% of companies focusing on culture during their transformation journey experienced solid financial performance, compared to 17% that didn’t. Despite projections that global spending on digital transformation will reach $3.4 trillion by 2026, there’s a high failure rate — around 70%, according to McKinsey . Much of this failure can be attributed to organizational culture shock, where employees react negatively to sudden changes. In 1955, Sverre Lysgaard developed a model describing how individuals adapt to a new culture, beginning with a honeymoon phase, followed by culture shock, then adjustment, and finally adaptation. This process mirrors what happens to employees during digital transformation. Companies must invest in addressing culture shock to ensure the success of their digital initiatives. Related: 2024 […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
