In Post*Shift’s blog, they discuss some of the insights from the first interviews from their latest research project: Alternative Approaches To Developing Digital Strategy. They are uncovering some fascinating input, but the investigations are still in progress. If you are responsible for digital strategy at your company, and would be interested in participating and receiving a free copy of the final report, please get in touch.
You would be hard pushed today to find a FTSE500 company that doesn’t have a digital strategy. With the threat of start-up disruption, competitor innovation, and the rising power of the customer who can ruin your reputation with a single viral tweet, executive boards across the globe have responded the way they know best: Vision 2020 roadmaps and digital transformation Gantt charts.
The problem is, we know that these don’t work. They are 20th-Century tools designed for developing and executing strategy in a predictable, stable world. They lack the flexibility and feedback mechanisms to work in an unpredictable digital era where nailing jelly to the wall doesn’t even begin to cover it.
As if that wasn’t enough, not only are companies using the wrong tools, they are also struggling to get everyone on the same page. Senior stakeholders often have differing ideas of what a “digital strategy” means. CEOs reduce the dissonance by giving ownership to a sole C-Suite member. This leads to a narrow view taken, depending on the outlook and functional experience of that executive. It also has the effect of leading the rest of the C-Suite to believe that either they don’t need to engage, because “oh, John’s got that”; or if they have a differing view, to go off and create their own solutions.