The fast-growing digital economy is full of unknowns. In fact, it’s undeniably a brave new world for all involved. But some things we do know.
We know with certainty, for example, that digital initiatives without purpose fail. Roughly 80% in fact, reports Forbes. This is largely due to a risk-fearing culture, regulatory paralysis, the bog of legacy systems, and failure to define and communicate a galvanizing purpose for digital change.
In reality, many digital initiatives today are often conducted as side experiments or prototypes, focused on incremental enhancements to a user experience, aren’t scalable, or don’t address significant problems related to broken processes. Of course, none of the above will ever achieve true change.