Bullish on digital: McKinsey Global Survey results

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Bullish on digital: McKinsey Global Survey results

CEOs and other senior executives are increasingly engaged as their companies step up efforts to build digital enterprises.

August 2013 | byBrad Brown, Johnson Sikes, and Paul Willmott

As businesses continue to embrace digital tools and technologies—especially when engaging with customers—C-level executives in a recent McKinsey survey1 say they are stepping up their own involvement in shaping and driving digital strategies. This is vital to the success of digital programs, as survey respondents most often cite a lack of senior-management interest as the reason for an initiative’s failure. Respondents also suggest that organizational alignment is critical to seeing real business impact from digital.

Read all at http://www.mckinsey.com/Insights/Business_Technology/Bullish_on_digital_McKinsey_Global_Survey_results?cid=other-eml-alt-mip-mck-oth-1308

 

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McKinsey Quarterly’s 10 articles 2012

In this, our final Top Ten Newsletter of 2012, we’ve rounded up the most popular articles among readers this year. Read them today and join the conversation.
Demystifying social media 1. MARKETING & SALES
Demystifying social media
As the marketing power of social media grows, it no longer makes sense to treat it as an experiment. Here’s how senior leaders can harness social media to shape consumer decision making in predictable ways.
[includes interactive]
How leaders kill meaning at work art 2. GOVERNANCE
How leaders kill meaning at work
Senior executives routinely undermine creativity, productivity, and commitment by damaging the inner work lives of their employees in four avoidable ways.
The executive's guide to better listening art 3. GOVERNANCE
The executive’s guide to better listening
Strong listening skills can make a critical difference in the performance of senior executives, but few are able to cultivate them. Here’s how.
4. STRATEGY
Becoming more strategic: Three tips for any executive
You don’t need a formal strategy role to help shape your organization’s strategic direction. Start by moving beyond frameworks and communicating in a more engaging way.5. STRATEGY
A CEO’s guide to innovation in China
Dynamic domestic players and focused multinationals are helping China churn out a growing number of innovative products and services. Intensifying competition lies ahead; here’s a road map for navigating it.

6. STRATEGY
How strategists lead
A Harvard Business School professor reflects on what she has learned from senior executives about the unique value that strategic leaders can bring to their companies.

7. ORGANIZATION
Motivating people: Getting beyond money
The economic slump offers business leaders a chance to more effectively reward talented employees by emphasizing nonfinancial motivators rather than bonuses.8. STRATEGY
The social side of strategy
Crowdsourcing your strategy may sound crazy. But a few pioneering companies are starting to do just that, boosting organizational alignment in the process. Should you join them?

9. STRATEGY
Managing the strategy journey
Regular strategic dialogue involving a broad group of senior executives can help companies adapt to the unexpected. Here’s one company’s story, and some principles for everyone.

10. OPERATIONS
The human factor in service design
Focus on the human side of customer service to make it psychologically savvy, economically sound, and easier to scale.

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Measuring marketing’s worth

See on Scoop.itDesigning design thinking driven operations

You can’t spend wisely unless you understand marketing’s full impact. Here are five questions executives should ask to help maximize the bang for their bucks.

See on www.mckinseyquarterly.com

McKinsey’s May 2012 Newsletter–How your company can use social media

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How your company can use social media

This month, we aim to sharpen your thinking about blogs, wikis, mobile apps, Web forums, and the like. “Demystifying social media” shows how executives can shape the consumer’s purchase decision by harnessing these new platforms. Several consumers share their experiences, and three McKinsey partners provide advice on how companies can draw on social media to build brand loyalty, in the video “Making sense of social media,” on mckinsey.com. “A social journey” interactively demonstrates why marketers should use such techniques at every stage of the consumer’s purchase process. “Understanding social media in China” shows that despite vast differences between this market and those of the West, the ingredients of a winning strategy are familiar. Finally, review the results of therecent live Twitter conversation hosted by McKinsey partners David Edelman and Hugo Sarrazin on using social media to shape consumer decision making (available on Storify).

Read all at May 2012 Newsletter–How your company can use social media

500px / Photo “Fashion” by Vladimir Konnov

(via yae-tokyolife)

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McKinsey Classics Newsletter Articles of enduring interest

 

 

 

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<p>quiet-design:</p>
<p>Summer Edition Bicycle<br />
A collaboration between Almond Surfboards and Linus Bikes<br />
” />Business <a class=technology for competitive advantage

Although many new business technologies boost productivity, they usually diffuse rapidly through sectors, so the benefits accrue to the consumer, not to individual companies. Yet technology can help them create or extend a competitive advantage by generating hard-to-imitate products and services. That happens, for example, when IT innovations complement sustainable strengths such as new business processes or managerial breakthroughs. Read “Getting IT spending right this time.”

May 2003
Getting IT spending right this time

Related reading

January 2010
Using knowledge brokering to improve business processes [includes audio]

December 2007
Eight business technology trends to watch [includes audio]

September 2006
How IT can drive business process reorganization: An interview with the CIO of Volkswagen

May 2006
Competitive advantage from better interactions

November 2005
Improving productivity, part 2

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10 Posts McKinsey Quarterly 2 2011

Umbrella Follies

n case you missed them, see which articles have been most popular with their readers in the second quarter of this year. Read them today and join the conversation.
Sparking creativity in teams: An executive's guide 1. STRATEGY
Sparking creativity in teams: An executive’s guide
Senior managers can apply practical insights from neuroscience to make themselves—and their teams—more creative.
Drawing a new road map for growth 2. STRATEGY
Drawing a new road map for growth
New findings show how large and small companies grow—and reveal the startling performance of emerging-market players.
Eric Schmidt on business culture, technology, and social issues 3. ORGANIZATION
Eric Schmidt on business culture, technology, and social issues
In this interactive video, Google’s executive chairman shares his strategies on hiring, running meetings, designing “mobile first” business models, and addressing joblessness and education reform.
4. ECONOMIC STUDIES
The challenge—and opportunity—of ‘big data’
A new report explores the explosive growth of digital information and its potential uses.

5. ORGANIZATION
To centralize or not to centralize?
It’s a hard call made harder by power struggles. CEOs can force a more thoughtful debate by asking three critical questions.

6. STRATEGY
Is your emerging-market strategy local enough?
The diversity and dynamism of China, India, and Brazil defy any one-size-fits-all approach. But by targeting city clusters within them, companies can seize growth opportunities.

7. ORGANIZATION
Seven steps to better brainstorming
Most attempts at brainstorming are doomed. To generate better ideas—and boost the odds that your organization will act on them—start by asking better questions.

8. TELECOMMUNICATIONS
How new Internet standards will finally deliver a mobile revolution
As the Web experience evolves, smartphones may soon live up to their name, and every business’s mobile strategy will grow in importance.

9. MARKETING
Using your sales force to jump-start growth
There’s a reason it’s called a sales “force.” Here are four innovative ways companies can use their sales reps to drive growth.

10. CORPORATE FINANCE
Sustaining top-line growth: The real picture
A historical view shows that beating markets is tougher than most leaders believe.

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Participate in McKinsey management 2.0 challenge: what new management practices can Web 2.0 tools and technologies enable?

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Management 2.0 Challenge: How is the Internet changing management?

Despite the Internet’s profound impact on business models, it has had a relatively modest effect on management models. But what new management practices can Web 2.0 tools and technologies enable? In conjunction with Gary Hamel’s Management Innovation eXchange (MIX) and Harvard Business Review, McKinsey is launching a contest to explore just that. Enter by telling us what progressive practices and innovative ideas you’ve developed that illustrate how the Web can be used to make organizations more adaptable, innovative, inspiring, and accountable.

Visit the MIX site to find out more about entering the contest and to see some initial ideas.

Plus, read our recent Quarterly article “The rise of the networked enterprise: Web 2.0 finds its payday” to learn how some companies using the Web intensively gain greater market share and higher margins.

This Management 2.0 Challenge is one in a series of HBR/McKinsey M-Prizes for innovation in management. Look for more opportunities to help us build our knowledge on management innovation later this year: we’ll be launching M-Prizes on organization and strategy in the fall.

Please click here for participation

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Summation: The Entrepreneur vs. The Strategy Consultant

Found at Summation: The Entrepreneur vs. The Strategy Consultant.

The Entrepreneur is very different from the typical McKinsey-esque strategy consultant. Both are extremely smart, driven, persistent, creative, and determined. But I have found that there are some major differences.

To be continued at Summation: The Entrepreneur vs. The Strategy Consultant.

 

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