LAUSANNE, Switzerland, March 2, 2017 /PRNewswire/ --
The Global Center for Digital Business Transformation, an initiative of IMD business school and Cisco, and HR consultancy metaBeratung, have identified four competencies and three behaviours that business leaders need in order to excel in the era of digital disruption. A new report, Redefining Leadership for a Digital Age, presents findings from a global survey of more than 1,000 executives across 20 different sectors.
In turbulent times, leaders are caught in a technology-change vortex that is drawing in whole industries and creating disruption on an unprecedented scale. An eye-watering 92% of leaders said they are feeling the effects of digital disruption, with one-third rating the impact of digital disruption on their companies as "very significant."
Despite the quickening pace of digital innovation, less than 15% of leaders said that they were "very prepared" to meet the demands of a digitally-disrupted business environment. The majority of participants (almost 80%) indicated that they were "starting preparations" or were "fairly prepared" to tackle digital disruption.
The research further reveals:
In light of the clear understanding of the importance of digitisation, the report outlines the following "HAVE" competencies as the most important success criteria for leaders facing a landscape characterized by digital disruption:
Nearly half (42%) of those identified as Agile Leaders said that they were making more informed business decisions as the result of well-directed data gathering, effective analysis, and good judgment.
The report identified the following additional practices that Agile Leaders adopt in a digitally-disrupted business environment:
The findings build upon previous research by the Global Center for Digital Business Transformation, which has demonstrated the importance of Digital Business Agility - a set of meta-capabilities that describe an organisation's readiness to sail in the choppy waters of rapid technology and business model change.
The survey was supported by in-depth interviews with leaders from both incumbent organisations and disruptive start-ups. Read the full report.
Carlos Torres Vila, CEO, BBVA, said: "We are taking decisive steps in the Group's transformation in order to create the best possible experience for current and future customers. The goal is for BBVA to be the best bank of the digital age."
Jeff Immelt, CEO, General Electric, said: "What we've tried to do is narrow our focus as a company, to be only those things that have significant core competency. So, that's led us into being a global infrastructure leader... We're playing to the company's strengths, and, at the same time, we're playing to those things that the world needs... That's led us to be more global. It's led us to be more technical. It's led us to exit media, shrink financial services, and be in those things that we think are core to the company."
About the Global Center for Digital Business Transformation
A joint initiative of IMD and Cisco, the Global Center for Digital Business Transformation (DBT Center), is a global hub for leading research and analysis on digital disruption. www.imd.org/dbtcenter
IMD is a top-ranked business school recognized as the expert in developing global leaders through high-impact executive education. The school is 100% focused on real-world executive development, offers Swiss excellence with a global perspective, and has a flexible, customized and effective approach. IMD is based in Lausanne, Switzerland and has an Executive Learning Centre in Singapore. www.imd.org
metaBeratung is a leading Management and HR-Consultancy with offices in Germany, Austria and Switzerland.
IMD business school
Head Marketing metaBeratung GmbH,
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