Comments
Analogy
> getting a grip on their digital transformations is akin to chasing down a greased pig at the county fair.
Nice analogy.
The only difference: Many companies aren't nearly as excited about it (though some of those may claim to be).
As for the stats, that's typical of hyped up tech trends (whether the hype is deserved -- as with digital transformation -- or not). Almost all execs say it's vital; the majority say that they're underprepared.
Hmmm
"Many companies aren't nearly as excited about it (though some of those may claim to be)." Have you spoke to a lot of companies personally about this Joe, or is that a generalization on your part? At least the two companies that did the survey and research spoke to 3,700 business execs; maybe there are few kernels of info that that aren't hype here?
Re: Hmmm
@Mike: My evidence is definitely anecdotal, but the observation was based on executives with whom I have spoken.
In general, my (sheltered, anecdotal, biased -- granted) observation has so far been if they/their companies aren't already doing something with digital transformation, it's likely not happening any time soon.
The longer run often gets the short end of the stick
Executives and managers jockey for resources, and resources depend in part on the overall perceived urgency of an area, so it's probably pretty rare for anyone to say "The area I am concerned with can wait a while and doesn't matter right away," let alone, "Yeah, we've got all we need to do as much as is needed." So the left half of the urgency-and-crisis bell curve is probably always underpopulated whether we're buying transformative technology or paper clips, and there's some adjustment to be made for that.
That said, it's also true that there are many areas in a modern corporation where the reward (or punishment) cycle is a lot faster than it is in telecommunications. Overall leaders/managers do themselves more good in visibility, reputation, and perceived value by fixing this week's trouble or seizing next Tuesday's opportunity than they do by getting the company ready for 2021. So there's a certain shortness of vision just built into the structure, and the people in the more visionary parts of a company are always going to be coping with that.
Re: The longer run often gets the short end of the stick
@John: Here's something really interesting, on that thought. According to recent research conducted jointly by LogMeIn/Xively and Machina Research, for most companies that have turned to IoT solutions, the reasons had nothing to do with cost savings, efficiency, or any of the other oft-hyped benefits of IoT. Rather, most companies that have turned to IoT have done so solely to pursue a new revenue opportunity dependent upon IoT.
Just goes to show what gets attention in C-suite and how execs tick.
Re: The longer run often gets the short end of the stick
Joe,
I know one economist who likes to say that the real Zeroth Law of Labor Economics is: people always figure out what they are actually being paid to do, and do that. Applies to the C-suite as much as to anywhere else.
Ariella
8/5/2016 8:52:08 AM
User Rank Author
Re: The longer run often gets the short end of the stick
@JohnBarnes I don't know. A lot of people seem to not really stick with what you'd think is essential to the job -- like being there during the work hours. My daughter has a camp job and reports that the person in charge of her division disappears for a couple of hours every day. Being there from 9 to 4 (with only the mandated 40 minute break) is pretty integral to the job.
Entangled metaphor
I'm still admiring the combination within a couple of paragraphs of "greased pig contest" and "hamstrung." Of course if you hamstring the pig he does get easier to catch, but in this little tangle, it sounds like it's the metaphorical children being hamstrung, which only sounds like a good idea to parents of extremely active toddlers.
breakfast
John, the county fair just got over here. They did have a greased pig contest for kids. Many years ago when I was in high school we had a greased pig contest inside of the school. We learned that pigs don't run well on linoleum and that greased pig contests in confined areas lead to injuries.
Re: breakfast
@Mike: Meanwhile, here in liberal, sheltered eastern Massachusetts (the Boston area, anyway), the urban elite around here either 1) has no idea what you're talking about and/or 2) scoffs at such things.
No pig farmers 'round these parts.
DHagar
8/4/2016 8:08:59 PM
User Rank Platinum
Re: breakfast
@Joe Stanganelli, maybe your elites don't know what pigs are, but they certainly endorse the digital future. I see the east coast (where I was born) as a driver of digital transformation, along with the west coast (where I live).
But the key in Mike's excellent report is the fact that the leading companies are truly embracing technology to transform their businesses into new models, services, cultures, etc. Those companies that are trying to "evolve", instead of "transforming" their businesses, will continue to lag.
Ariella
8/4/2016 6:33:26 PM
User Rank Author
Re: breakfast
<We learned that pigs don't run well on linoleum and that greased pig contests in confined areas lead to injuries. > @Mike that was certainly a learning experience then! You used the scientific method to discover these causes and effects.
dcawrey
8/5/2016 3:18:08 PM
User Rank Platinum
Re: breakfast
I thinkt the nature of work is changing as the tools do – this isn't something that organizations are not accustomed to. Workplaces were the first places that saw the opportunity email presented. As new technologies arrive, I expect companies to continue to innovate the workplace despite employees wanting things to remain unchanged.
Ariella
8/5/2016 3:26:04 PM
User Rank Author
Re: breakfast
@dcawrey I'm sure many employees actually welcome the change. I do a lot of interviews with people who introduce technological solutions in their businesses. They usually say that employees are happy once they get the hang of it because the benefits become very obvious to them.
batye
9/5/2016 11:07:58 PM
User Rank Platinum
Re: breakfast
@Ariella in my books :) how I see it - it is a positive much need it change....
dlr5288
9/30/2016 4:05:53 PM
User Rank Platinum
Re: breakfast
I can see this. I can understand how employers at first might be skeptical to try something new, but once they get the hang of it and realize how useful it is, I'm sure there's no complaining.
Re: Entangled metaphor
@John: Ahhhhhhhh!!! I only just noticed that brilliant wordplay/juxtaposition!
Kudos to you, Mike! You are an artist.
batye
8/4/2016 10:34:22 AM
User Rank Platinum
Re: breakfast
@Mike Robuck interesting to know... in Canada Schools we never did have a choice to enjoy or even try this type of fun...
Re: breakfast
I'm pretty confident that there never was another greased pig contest inside of the high school after that one.
batye
8/4/2016 11:36:43 AM
User Rank Platinum
Re: breakfast
@Mike Robuck but at least you have a pig :) in my school days no animals was allowed in the school or on the school property...
Ariella
8/4/2016 6:32:05 PM
User Rank Author
Re: breakfast
@batye like the Mary had a little lamb song.
"It followed her to school one Day / Which was against The rules."
batye
8/5/2016 12:02:45 AM
User Rank Platinum
clrmoney
8/4/2016 12:43:05 PM
User Rank Platinum
digital tranformations
Of course the digital world is moving up with advaned technology so keep going.
pmassam
8/5/2016 5:09:56 AM
User Rank Gold
Zoom Out - Zoom In Challenge
Thank you for sharing this Mike. The challenge for some execs with Zoom Out will be the length of expected tenure in post, which is normally driven by more immediate business KPIs. This often leads to a 2-3 year window of opportunity (sometimes enforced) during which time they need to show value.
Culture change needs to happen at chairman/board level to allow adequate time to define and fulfil the vision of what a company wants to be in an increasingly digital world
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