Why do digital transformations fail McKinsey?

In one of its articles, McKinsey defines digital transformation as “an effort to enable existing business models by integrating advanced technologies ”. Basically, it allows digital technologies to be integrated into already existing business models, changing the way you operate and deliver your product or service.

The three stages of digitalization

Beyond the ICT sector, which often sets the standard for the highest level of digitization on various indicators, the most highly digitized parts of the economy are media, professional services, and financial services . The index also highlights where there is room for growth in digital capabilities.

The reasons are many, and not surprisingly, McKinsey lists lack of management support, poor or nonexistent collaboration across silos, lack of employee engagement, and accountability as some of the main culprits.