Only 7% of companies have the correct combination of culture and operating structure to boost growth from digital technologies, according to new research from the Infosys Knowledge Institute, the thought leadership arm of Infosys, a next-generation digital services and consulting, as per an exchange filing.
The Next Digital Frontier, surveyed 2,700 business executives across the US, UK, France, Germany, Australia, New Zealand, China, and India, and found that companies that make decisions based on high quality, transparent data and build a culture of responsible risk-taking are more likely to deliver profitable growth in today’s tough macro-economic conditions.
In addition, organizing around products, not process, gets new products to market faster, increasing early-mover advantage.
This research suggests three differentiators for success: use data internally, design organization culture to take responsible risks and organize the business around products.
Companies that excel in these capabilities enjoy increased profit, brand perception, and employee as well as customer engagement.
However, our report found that less than 10% of firms have mastered these three differentiators, highlighting significant opportunities for those that do.
Mohit Joshi, President, Infosys commented, "We are at a time when businesses and consumers are facing change, tough macro-economic headwinds, and a challenging competitive environment. Leaders must see this period as an opportunity to think differently, unlock new structures and ways of working to drive much needed innovation and growth."
"Yet, in practice, very few businesses are accomplishing this. The opportunity lies in the hands of the C-suite to develop a 21st century enterprise that builds resilience, agility, and growth into their operating models."
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