If you are trying to ignite any kind of change in your company and think it is crazy hard to do it … relax, you are right. Studies show that 67% of well-formulated strategies failed due to poor execution, which means that 2 out of 3 corporate programs fail.
And if you are trying to drive Digital Transformation in your company … sorry, the news gets worse (but you probably knew that already).
A report by the Boston Consulting Group states that 70% of digital transformation programs fall short of their objectives—and other studies report failure rates as high as 84%
Why is it so bad? What goes wrong?
In one word – BELIEF
Research shows that the biggest difference between change that succeeds and change that fails is the strength of managers’ commitment to it.
Henry Ford famously said that “Whether you think you can, or you think you can’t – you are right,”.
Well, turns out Ford was right 😊
In this day of advanced Artificial Intelligence and Data Analytics, it turns out that the one thing that moves the needle forward in any corporate change management activity in general, and digital transformation in particular, is making people believe in the value of their projects.
There are many different types of beliefs that come into play, here are a few examples:
So, when you drive a Digital Transformation change in your company, how do you get your team to believe in it?
That’s our topic for next week 😊
If you would like to know more about how ConvergeHub can help you drive Digital Transformation in your company by improving communication and visibility, talk to us.
Or, if you like to check it out yourself, go ahead and create a free ConvergeHub account here.