Digital transformation framework McKinsey. Their framework offers a lot of help for those who want to do the journey. What is this?
Companies that want to do a digital transformation or Dx needs to have a good plan. So, the right framework is the key to success.
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But having a framework is not the same as having the right framework. So, McKinsey stressed out some key factors to have the right one.
If you are on your way to your Dx, keep on reading to know more.
Digital Transformation Framework McKinsey
The first thing that you need to secure before doing any steps to Dx is getting the C-suite on board. With them backing the journey, the decision-making will roll out faster.
Also, they are the key to getting the needed budget for the journey.
Next up is where you want to go in doing the journey. So, set the clear targets you want to reach starting from the small going big.
Then, set these budgets based on:
- cost savings
- better employee performance
- employee satisfaction
- new ways of working
- customer satisfaction
- raised revenues
When doing Dx, some companies may hold back. But if you want to reap better results, remember, “you get what you pay for.”
So, if you are willing to invest big, you will get better results. Thus, giving you a higher chance of success.
Doing Dx will not soar high without the right team. So, you need to make sure you have a top-notch team to spearhead the journey.
Sometimes, companies will hire a temporary role as a Chief Digital Officer or CDO. They will be the ones to lead the company’s journey.
So, think if you need to hire one or not. And see what you need in your team.
Agile is now starting to become the norm for working. This drives faster work and autonomy. And pushing the value of cutting tasks into shorter ones.
So, you need to ensure you adapt and become agile. Then, do periodic assessments and make a digital unit to aid in your agility.
Drive Digital Culture
To ensure success in your Dx, you need to nurture a digital culture. So, train your staff and have workshops.
Then, let them understand why doing a Dx is vital for the company and to them. And stress the value of having the right mindset and behavior while doing the journey.
Having the right mindset is not enough. So, you need to build the right capabilities and boost the right digital skills.
Thus, solving any digital skills gap that is present in the company. Then, you can hire more digital talents on board.
New Operating Model
To give better value to the customers, you need to make a new operating model. Also, get new systems that will help in this.
With this, you can raise your Dx.
Do You Have the Right Digital Transformation Framework?
So, this is the Dx framework of McKinsey. What does yours look like?