Why do companies with Chief Digital Officers underperform similar organizations without CDOs?
Often the role (and a department under the CDO) are established to 'transform the business' by leading innovation projects, driving company expansion into mobile, social media, and other technologies or to implement technology to streamline operations. However over 50% of CDOs and their teams deliver sub-par results.
Next Step's experience and that of our Executive Growth Alliance members shows that many CDO's fail due to unrealistic expectations. A company's innovation strategy, need to define and implement new digital solutions and especially transformation of the business culture cannot be delegated to one person or department. These are leadership initiatives that must come from the executive team and be embraced throughout the organization.
The CDO (if there is one) can be highly effective as an internal evangelist for innovation, digital solutions, culture transformation (to more innovative, agile etc) and can incubate projects but not be 'responsible' for innovation. This topic will be discussed in upcoming Exec Growth Forums – contact me to participate
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