Great article by my friend, Ray Wang, and I would like to add an 8th to the 7 common factors they lay out in terms of common board room issues and that is one of communication or put it another way social.
Boards often don't embark on digital transformation as they actually don't know what to do. We meet so many companies where they are frozen, like "rabbits in head lights". Spending money with consultants, gurus and on tools hoping that something will happen. Tactic, tactic, tactic.
First and foremost a business needs a strategy and the C-Suite need to understand that strategy. If somebody stops a member of the C-Suite in a lift / elevator and say "this new strategy is rubbish", then that C-Suite person needs to articulate why they believe in it.
Leadership have to be seen and be vocal, explaining why the company is transforming and doing this in a way people want to engage with. On social.
Leadership (and the employees) also need to be visible externally. Your customers, employees and sales team are all on social, and that is where the C-Suite need to be. Not hidden behind a PR company or a Marketing agency, but on social, in real life.
Implementing social internally and externally will transform the business and far quicker then a digital systems change, generating incremental revenue rather than management consultant efficiency savings.
if only there was a company that could help you? :)
Faced with massive pressure to embark on their digital journey, boards and CEOs have sought case studies and examples of success to avail without realizing that each journey remains unique. While there are many proof of concepts in play, much of the innovation in play requires a transformational mindset. When boards ask, "Has this has been done before and where", they miss the point. Why? The task at hand requires a shift from operational efficiency or regulatory compliance to a revenue growth and strategic transformation mind set.