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Competing in 2020: Winners and Losers in the Digital Economy

The first post in our new blog series on Accelerating Digital argued that the urgency of digital transformation is now widely accepted by most senior executives. Few remain to be convinced about the disruptive impact of emerging technologies.

With the focus shifting from the WHY to the HOW of transformation, Post 3 hinted at a growing ‘digital gap’ between where many organisations are on the transformation journey and where they should be. Overcoming the obstacles and barriers preventing organisations from leveraging the full potential of digital technology has now become the main focus (see Accelerating Transformation (Part 3): Your Digital Audit).

Competing in 2020

New research conducted by Harvard Business School, with sponsorship from Microsoft, provides additional evidence supporting the two key points above.

Based on a large-scale survey of 783 executives across a broad range of sectors, countries and size of organisation, the research examined the pace of innovation and how prepared business leaders are for rapid digital change.

The report concluded that the majority of business leaders know their industries are ripe for transformation. In most cases, they are eager to bring the benefits of technology to their businesses. However, a major digital gap still exists with the majority of respondents being unprepared for rapid digital change.

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