Businesses should embrace digitization, advanced technologies and tech-enabled disruption as part of their ongoing transformation process, according to a report by McKinsey & Company, the New York-headquartered global management consultancy. In more specific terms, the report singled-out technology and digitally-driven innovation as more effective than the traditional approaches to change management, largely on account of their facility to refine businesses beyond simply increasing production speed and optimizing cost-efficiency.
Senior representatives of McKinsey presented the report’s finding and provided advice on delivering technology-enabled transformation at the recent Decoded Philippines event, a seminar the company hosted for 100 C-level executives from a number of leading local and multinational firms. According to Kaushik Das, the McKinsey managing partner for Southeast Asia, the consultancy is committed to helping companies transform by rethinking their revenue models, embracing the power of digital and analytics and making informed portfolio choices. Das also noted that implementing performance transformation and any major new initiatives in parallel is likely to enhance a company’s chances of success.