Why ‘if it ain’t broke, don’t fix it’ is strategy for failure While it’s clearly hard to make a success of a digital transformation, the risks associated with such projects are outweighed by the dangers of procrastination Chris Stokel-Walker Times are tough for businesses, with economic growth faltering, costs rising and hi-tech advances seemingly revolutionising whole industries every other week. It’s little wonder that, when faced with such harsh conditions, many firms choose the ‘if it ain’t broke, don’t fix it’ approach to digital transformation. After all, studies indicate that 70% of such projects fail to achieve their objectives. Seasoned C-suite decision-makers can sometimes turn from tigers to mice where digital tech is concerned. But a timorous attitude to a firm’s strategic tech needs at this level can prove costly to the business in the long run. There certainly are risks in undertaking any big project, but the risks of not adjusting to the changing world around you in a timely fashion are often underestimated. Kicking the can down the road can result in a far harder task for a business once it does take belated action, because it may need to overcome years of digital underinvestment. Similarly, halfheartedly […]
Piecing together the digital transformation puzzle
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