One of the inexorable consequences of corporate scandal is a push for reform of corporate governance. Thus accounting misdeeds and the dot-com bubble led to the Sarbanes-Oxley Act in the U.S., the global financial crisis led to the recently revised Shareholder Rights Directive in the E.U., and a series of corporate misadventures in Japan has led to the development of both a governance and a stewardship code.
STRATEGY + BUSINESS
There is infinite wisdom in the phrase “life is a journey, not a destination.” And the wisdom of this metaphor has been eloquently extended to digital transformations (DX).
There are a number of ideas surrounding digital marketing that are distortive of its essence and purely misguided. And this comes as no surprise. Ever since businesses started promoting themselves online, stories of what works, what doesn’t, and what you should be doing were bound to propel into the vast digital space. But, if there’s one rule about the digital space itself, it would be: Don’t believe everything you read on the Internet.
According to a 2018 survey by Tech Pro Research, only 22% of respondents said their companies have a comprehensive digital strategy in place, while 49% said they’re “working on it.” Surprisingly, 21% said their companies had no such strategy. Having worked on many digital transformation projects, this data leaves us wondering: Why hasn’t that 21% embraced this opportunity yet? Is digital transformation perhaps viewed as too cumbersome or challenging by some?