Bangkok Post, Thailand: Senior Director at Cognizant’s Center for the Future of Work Says CEOs Have an Opportunity to Rewrite Strategies of Traditional Companies With Digital Ink

“Regardless of country or industry, the digital transformation agenda is now a top priority for CEOs across the Asia-Pacific region,” writes Manish Bahl. “According to a recent Cognizant study, “Asia Rising: Digital Driving”, 62% of CEOs surveyed for the study are directly involved in making and executing digital transformation strategies for their organizations.” Excerpts:

“The study highlights that 98% of CEOs surveyed for the study are well on their way to digitally transforming their businesses. Nevertheless, the transformation agenda introduces challenges, in the form of new investments, organizational structures, internal skills, change management, and roles and responsibilities for companies. CEOs need to handle these challenges well.

The center of gravity is shifting from big, legacy companies to smaller, more agile businesses that can innovate faster and embrace the power of digital platforms.

A business cannot think “outside the box” in the absence of a strong digital leadership role. If CIOs/CTOs or CMOs are well-equipped to lead the transformation, they should give up their current roles; if not, the business should hire someone to lead the charge.

CEOs need to bring a digital leadership mandate to break down organization silos, change the company’s culture, realign employee incentives, rewards and growth plans, and address the myriad challenges that companies face as digital transformation agenda accelerates.

CEOs have an opportunity to re-write the strategies of their traditional companies with the digital ink to avoid a Kodak-like moment for their businesses. They must stop trying to “fix the problem” with digital and instead “fix the path” that leads to a successful business transformation. Switched-on leaders recognize the need to transform the very essence of business value generation, as well as their own vision surrounding technology, work and the global economy. The present CEOs who understand this will be the CEOs of tomorrow.”

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