Companies who have already started down the digital path are pulling further away from the digital laggards, according to research by global tech research firm Gartner.
New research has found that 32 per cent of leaders at organisations with $US250 million or more in annual revenue said they have a business that is a digital business, up from 22 per cent in the same survey last year.
The study also revealed that most companies undertaking digital business initiatives don’t make a distinction between digital business strategy and business strategy. They have basically operationalised their transformation.
Those in the planning phase see the two as separate.
In practical terms, a company that is moving from strategy to execution will have fewer steps to reach its goals compared with one that has to insert a separate planning process for digital business, say the authors.
Over time, even if the faster team stumbles, it can recover more rapidly than one that has more process for strategy.
Executives already in digital business are invested in piloting and deploying, while those at companies in the planning phase are focusing on investigation and experimentation, according to the researchers.
Among the top priorities for digital business front-runners;
- Adopting new technology (70 per cent).
- Creating a highly collaborative environment (56 per cent)
- Supporting customer-driven technology change (53 per cent)
According to the authors: “These represent responses to an external stimulus and are characteristic of a healthy digital business.”
Gartner surveyed over 300 business leaders in the US, UK, Germany and Australia between May and June 2015, as part of its 2015 Digital Business Survey of IT, Business and Marketing Executives, to understand how businesses and institutions take in, identify and exploit the new opportunities that digital business represents.
“The survey results underlined how digital business leaders are more likely than others to focus on design and the creation of new digital business moments,” said Jorge Lopez, Gartner’s vice president and analyst.
“We asked respondents to rank the importance of five success factors, breaking down the results according to whether companies were using digital marketing techniques (a precursor to digital business), were planning digital business or had already implemented digital business. Not surprisingly, the last group accorded more importance to design and moments, which are necessary to execute digital business.”
When asked to identify what would be the impact of digital business — either positive or negative — over the next five years, organizational leaders overwhelmingly concurred on the upside, anticipating improvements in customer experience and engagement (86 percent), IT organization (86 percent), workforce productivity (84 percent) and sales organization (83 percent).
Organizations appear to anticipate little downside to digital business with just seven percent projecting a negative or significant negative impact in staff, and 6 percent in mergers and acquisitions.
“The disruptive effects of digital business cannot be underestimated,” said Lopez. “To date, a limited number of product categories — music, books, photographs and newspapers — have seen their business models upended.
“Going forward, organisational leaders in other product and service categories will also need to adapt by restructuring the workforce, eliminating obsolete roles, and finding talent that can help design systems and workflows that optimize the use of things integrated with people and business to drive new value for customers.”
This article originally appeared on B&T’s sister site www.which-50.com
AWARD has officially launched This Way Up: Australia’s Advertising Festival of Creativity. To be held at The Ovolo Hotel in Sydney’s Woolloomooloo from 10 to 17 August 2021, This Way Up will deliver a feast of events that will challenge and excite delegates by pushing creative boundaries and celebrating the very best creative thinking in […]
In a major joint investigation with News Corp Australia, Sky News Australia will blow the lid on the escalating cocaine war in an unmissable report, Australia’s Cocaine Crisis, this Sunday at 7:30pm AEST. Following last week’s Australian Federal Police-led sting of the century Operation Ironside, charging more than one hundred organised crime members, Sky News anchor […]
WhatsApp has reaffirmed its commitment to user privacy in a new global campaign, following controversial policy changes earlier this year. The Facebook-owned messaging platform revealed earlier this year it would be sharing certain data with Facebook as a condition of use, with the potential for this data to be used for targeted ads. The changes […]
Clipboard, a free professional networking platform for the hospitality industry, has announced it will seek to raise its next round of funding via equity crowdfunding platform Birchal. This will power its vision to transform the way the fragmented hospitality industry connects, shares experiences, markets and recruits. With a growing member database of over 24,000 hospitality […]
BIG W has joined forces with Verizon Media’s branded content division, RYOT Studio, to give Aussies a new way to shop Australia’s favourite annual toy sale, Toy Mania, using augmented reality (AR). In a first for BIG W, customers can scan a WebAR code to ‘place’ select outdoor toys from the Toy Mania sale virtually […]
Production of a reality TV show in the US has been halted indefinitely after an outbreak of “explosive diarrhoea” occurred on set. The new show is called Ultimate Slip ‘N Slide and is a competitive adult version based on the famous kid’s backyard summer sliding game. Filming had been taking place at a ranch in […]
The #SeeingRed campaign by Hey Girls UK uses discordance to its advantage, conveying the frustration and disempowerment of period poverty. Hey Girls UK are a period brand seeking to end period poverty in the UK, selling period underwear, cups, pads, and tampons. They run on a ‘Buy One, Give One’ scheme, where for every product […]
An upcoming film about the terrorist attack on a mosque in Christchurch, New Zealand, has been widely criticised for promoting a ‘white saviour’ narrative. Members of the Muslim community have also said it is “too soon” to fictionalise the shooting, which happened in 2019. White supremacist Brenton Tarrant murdered 51 worshippers at Al Noor Mosque, […]
Isentia has announced a takeover offer from Access Intelligence, which is subject to shareholder approval. Under the offer, Isentia shareholders will receive $0.175 per share in cash; this implies an Enterprise value of $67 million. Access Intelligence is a technology-led company delivering SaaS products that address the fundamental business needs of customers in the PR, […]
CHEP Tech, CHEP’s technology offering, has strengthened its Sydney team with new hires, including ex-Isobar engineering leaders, Tim Chapman and Kirill Frolov, alongside the promotion of Jacinta Karras to Head of Tech Programs and Charlotte Bruton’s role expansion from Head of Mixed Reality to Head of Innovation Strategy. Mark Gretton, chief technology officer of CHEP […]
After it was initially delayed, a Four Corners episode on QAnon, and a link between the conspiracy and PM Scott Morrison, aired last night. The ep – which had 722,000 viewers, as per OzTAM’s metro data – interviewed the family of Australian QAnon followed Tim Stewart. Stewart is a family friend of Morrison, who has publically […]
With the on-time deadline right around the corner, now is the time to submit your entry for B&T’s newest awards program, Best of the Best. On-time entries for Best of the Best will be accepted until 5pm (AEST) on Friday 25 June. And, while you can submit entries after this date for another week, it’s definitely best […]
New data, compiled by Deloitte and released by industry body Commercial Radio Australia, shows a rebound in radio advertising. According to the data, commercial radio advertising revenue for metropolitan stations jumped by 72.6 per cent in the month of May to reach $59.605 million from $34.534 million a year ago. The rise reflects a strong […]
Swedish bank Nordax has created a tool to urge people to buy less online – and to make smoothies instead. How we shop online is constantly evolving, with new ways to pay and get items delivered. Now, with a global pandemic keeping everyone bored at home, online shopping has reached new heights. Nordax Bank, a […]
It might still be June, but the deadline for entries into this year’s B&T awards is fast approaching (they’re due Monday 19 July at 5 PM, in case you were wondering). This year we’re helping you like never before with our new series, ‘How To Win A B&T Award’, where we speak with a host of judges, […]