Digital Transformation: You need both, the Strategy and the Knowledge on Technologies

A new study on digital business done by MIT Sloan Management Review and Deloitte’s 2015 has just been published. Some interesting, but not really surprising findings. The headline is in my opinion a bit misleading. Technology is still important, when it is used in a holistic approach to transform the business, not just to solve one singular challenge. you need both, the strategy and the knowledge on technology and digital capabilities:

MIT Sloan Management Review and Deloitte’s1 2015 global study of digital business found that maturing digital businesses are focused on integrating digital technologies, such as social, mobile, analytics and cloud, in the service of transforming how their businesses work. Less-mature digital businesses are focused on solving discrete business problems with individual digital technologies.

The ability to digitally reimagine the business is determined in large part by a clear digital strategy supported by leaders who foster a culture able to change and invent the new. While these insights are consistent with prior technology evolutions, what is unique to digital transformation is that risk taking is becoming a cultural norm as more digitally advanced companies seek new levels of competitive advantage. Equally important, employees across all age groups want to work for businesses that are deeply committed to digital progress.

via Strategy, not Technology, Drives Digital Transformation | MIT Sloan Management Review.

This infographic visualizes the results. The whole report can be read or downloaded here: