To successfully execute a digital transformation, CEOs need to focus time and energy on the venture, clarifying its goals and process, according to a May 12 McKinsey podcast.
A common mistake made by CEOs, according to McKinsey senior partner Rodney Zemmel, is that CEOs announce a digital transformation without clearly defining it so that the rest of the leadership team pursues multiple different digital projects leading to fragmentation. Instead, he advises that CEOs should develop a clear roadmap with the leadership team and move as one for the transformation.
Mr. Zemmel also suggests that CEOs should focus on one particular business aspect that could most benefit from digital transformation and invest the most time and energy in that venture instead of sprinkling attention on a range of business aspects.
Digital transformation needs to be at the top of a CEO's agenda, whether they are the sole leader or they co-lead with a technology executive. Without that executive focus and attention, the transformation becomes more difficult to enact.