The digital future is here and digitization is happening with such force and speed that companies have to act now to beat their competitors.
Flensby & Partners has conducted a survey among chairmen and chief executives regarding their approach to digitization.
The main conclusions from the survey were:
- 58% of the respondents state that they experience a lack in digital competencies and see a major need to add these skills
- 35% of the respondents state that there is a lack of digital leadership
- There is a lack of understanding of digital business models in the top management and to 33% the value or cost/benefit is not evident
On a positive note, the respondents view digitization as one of their biggest challenges now and in the future, and 71% state that digitization is an integral part of their corporate strategy. At the same time, 81% state that they are working on a large digitization project.
The biggest challenge for the top management is not the technology as such, but clearly the lack of people with the necessary digital skills and competencies.
“The top management has a great responsibility to create a digital culture that drives change in the company”, says Rune Sørensen, Partner at Flensby & Partners. “It is important that senior managers can attract, retain and develop key digital employees, as without a clear digital culture, the best talents will not want to work there. It is also of great importance to start changing rapidly, as studies show that it is "first movers" who reap the greatest benefits of digitization”, concludes Rune Sørensen.
For more information, please contact:
Rune Sørensen, Partner, Flensby & Partners