Is your business ready for inevitable digital disruption? (infographic)

3 Aug 2016

The digital revolution of global society, business and everything in between is hard to deny. However, who is prepared for the now-constant disruption?

The majority of managers and executives expect there will be significant digital disruption in the future, though few are adequately prepared.

That’s according to a major report from Deloitte, which saw 3,700 business executives across 131 countries, in 27 different industries, surveyed on their views on all things digital.

Digital disruption

Those from businesses considered more mature in the digitising process were far more likely to be taking risks and more likely to consider themselves agile and open to collaboration, hinting at a barrier of sorts.

Before reaching a comfortable place to greatly capitalise on digital versatility within a business, gradual change is the order of the day.

“Preparing for a digital future is no easy task,” reads the report. “It means developing digital capabilities in which a company’s activities, people, culture, and structure are in sync and aligned toward a set of organisational goals.”

Suggesting that a general lack of resources is a major constraint on companies’ digital progression, the report finds “heavy investment in talent”, as well as recruiting leaders in “soft skills” as similarities in businesses that are better prepared for digital disruption.

Soft skills are referenced frequently in this report: when asked about the most important skill leaders need to succeed in a digital environment, only 18pc of respondents listed technological skills as most important.

That seems remarkable considering the varied industries covered by the report, such as banking, retail, insurance, telecoms, IT, life science and media.

However, respondents highlighted managerial attributes, such as having a transformative vision (22pc), being a forward thinker (20pc), having a change-oriented mindset (18pc), or other leadership and collaborative skills (22pc) as integral to the current, and future, age.

“There is a tendency to see digital technology as an opportunity or choice,” said John Hagel, co-chairman of the Centre for the Edge at Deloitte.

“However, the mounting pressures of a rapidly-shifting business landscape are turning digital from a choice into an imperative. The longer a business waits, the more marginalised it will become.”

The full report is available here, though this complementing infographic tells the tale (click to enlarge):

Digital disruption

Digital planning image via Shutterstock

Gordon Hunt was a journalist with Silicon Republic