mckinsey digital transformation pdf

Michael leads McKinsey’s fast-growth tech service line in Israel and spends much of his time working on FinTech with both global banks and … McKinsey Digital is an exciting new group at the forefront of corporate transformation. Please use UP and DOWN arrow keys to review autocomplete results. Following these apects, we consider a comprehensive, yet prioritised list of digitization enablers for Slovakia, including the rela - tive strengths of the country and key areas on which to focus going forward (Chapter 3). The rise of Digital Challengers 1 This report is part of a wider research into the potential of the digi-tal economy in Central and Eastern Europe. There are three main reasons for this: 1. Deliver. Use minimal essential McKinsey played an active role in the region’s economic rebirth, working with leading business organiza-tions, governments, and nonprofits. Learn more about cookies, Opens in new Research online, purchase offline, e.g. %%EOF How digital transformation will unfold across different economic sectors is another key question. That’s the power of Operations 4.0 for organizations willing to commit themselves to it. McKinsey is a thought leader when it comes to digital transformation. The economies of the Digital Challengers are booming In 2017 the Digital Challengers saw their highest levels of GDP growth in more than a decade. For example, our colleagues in McKinsey Digital & Analytics work together with clients to drive technology-enabled transformations. Jun 12, 2017 - Go to www.slidebooks.com to Download and Reuse Now a Digital Transformation Strategy & Framework in Powerpoint | Created By ex-McKinsey & Deloitte Strategy Consultants. endstream endobj 146 0 obj <>stream DIGITAL MCKINSEY 7 initiatives don’t lead to more profound changes to the core business and avoid the real work of re-architecting how the business makes money, the benefits can be fleeting and too insignificant to avert a steady march to oblivion. Please click "Accept" to help us improve its usefulness with additional cookies. tab. For established companies, the pressure to digitize business models and products has reached new intensity.McKinsey research shows that the best-performing decile of digitized incumbents earns as much as 80 percent of the digital revenues generated in their industries.Ascending to that elite group is far from easy. 2. h�bbd``b`�� b;�`�[ $��@D��b��X9 ���qO �( !�H�Il |�@"E����A�b``�M�gL�` �� 1 benefits and, in many cases, are a crucial first step for a digital transformation. It is not for the fainthearted, but CEOs are heading in the right direction if they grasp the fundamental importance of heavyweight management commitment, are willing to make significant investments, and set clear, ambitious targets. h�b```��fAd`e`�s|5vSb�[�{�;C��g�dǽ�B^m���K��%�=[�#Co G} �ͭM;�r���Zȍ@FK;wdDo�rǩ&�L�7�]5��8�dI᳹[�\;8�R�g뼐c��R�\: This positive environment gives new digital initiatives a head start. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. � De-risk. If you would like information about this content we will be happy to work with you. Reinvent your business. Unleash their potential. misunderstood, part of digital transformation because it enables enterprises to accelerate innovation and performance improvement. �PQ�RQ�b��3� We see four primary structures, which collectively become Operations 4.0: The next level of product transformation not only combines the latest design thinking with multiple sources of data but also exploits sophisticated advanced-analytics methodologies to generate insights about potential cost and value improvements. One example McKinsey pointed to as proof of this is European insurer Axa, which invested €950 million in digital transformation over just two years. Over the past eight decades, the Firm’s primary objective has remained constant—to … Please email us at: McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android device. People create and sustain change. Most transformations fail. Years of research on transformations has shown that the success rate for these efforts is consistently low: less than 30 percent succeed. Digital upends old models. %PDF-1.5 %���� 22. �N��Pg�A.X����%�D�I�~��s\�E�1$g�s��H�T���T2��Q�sMV3��~�nC㜜iƸT�]�d4���ך>]���ɔ-l�9Oqִk[a4`���;���)��o��S�}�����n�pt�?N�����M?�Ç_�G� ���|�ջ�՞���n�]�\yھ�he۩�o0�#��8������9.� S\b��(P4���l�����nWG�����âٶXb���f�j���Pa�uI�7;�`c[WWn��VU7� y[6s��:�.��jjjݐdWޢ�²��~�:��lq���~��k��8t�Q����ˎI�qS�᰹�:\�N]G�خ���ͱ�n�/{�nrɦ~�&�mRV�P�i@&��ٵ×��p5������ah�H& N���bP/+����3KU_��Ӗߴ�����i,z`8��uW>��e�����=.oQ����B� �_}H+��q��US�掎$��9�Rs�ꮄ �}��=�>)�������I��d��Re�GI�K��zf��6UUKz)2� �a,�(6a���q&�>Z��c'���^D���&��|S&�L�L�'�Ǹ!� ��̏�i��}DQй��(�B�z�\�>��^���������7z�bFO���I��?��uTC�d�!B1E��X�41�EF6��K.�3gzu��� our use of cookies, and digital transformation into crystal-clear urgency. hereLearn more about cookies, Opens in new 142 0 obj <> endobj According to McKinsey, the digital transformation is allowing companies to quickly virtualize and automate products, services, as well as supply chains to include new disruptive business models and redesigned processes. Using a 100-point scale, the exhibit shows pharma’s score of 27 lags behind the average of 33 across all sectors. Over 50 percent of air travel is now purchased online… Other essential transformation tasks include building a digital culture and developing capabilities that allow for deeper integration with both internal and external systems. Consumers are increasingly willing to buy goods and services through digital channels. Now at McKinsey for more than 19 years, Michael has served clients across multiple industries with a special emphasis on support function transformation, large performance transformation programs and technology-driven innovation. Our flagship business publication has been defining and informing the senior-management agenda since 1964. H�dTIn�@�����M6�d�s�9�!d9L8�?�bK��c�Y�*�ӗ��X��:�4�D�����+>�~ݤ)�P�2hH�>�sп�ۯ�ek��S��zބ�o�x�QB��1)ܹ+��W�zro�n[�hG� �� Anyone interested in the subject would be wise to listen to their advice. And in turn, that’s creating huge new opportunities—and threats—for most enterprises. ���ᲃ{�\���&�M>�'4mt�a���|oN�/��~Ǯ~ ���.�ofP\p���K�H� �)�� � Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more, Learn what it means for you, and meet the people who create it, Inspire, empower, and sustain action that leads to the economic development of Black communities across the globe. Full Report (PDF-2MB) ... A new report from the McKinsey Global Institute (MGI), China’s digital transformation: The Internet’s impact on productivity and growth, projects that new Internet applications could fuel some 7 to 22 percent of China’s incremental GDP growth through 2025, depending on the rate of adoption. Our insights in this chapter are based on quantitative analysis and discussions with numerous market experts. By combining the latest innovations with deep industry, functional, and technological expertise, we help clients capture value from data and succeed in the digital age. Discover. Companies have always relied on technology to innovate and improve productivity and so on. McKinsey & Company McKinsey & Company is an international management consulting firm that helps leading corporations and organizations make distinctive, lasting, and substantial improvements in their performance. Digital Transformation: McKinsey’s Take. endstream endobj startxref See more ideas about digital transformation, digital, strategies. In order to fully benefit from the digital transformation, the time for CEE’s public and private sectors to act is now. mckinsey.com. But over the last few years, we’ve seen an explosion of technologies such as mobile and social media and big data. Please email us at: McKinsey_Website_Accessibility@mckinsey.com Product-driven transformation: From cost to design to analytics-to-value The next level of product transformation not only combines the latest design thinking with multiple sources of data but also exploits sophisticated advanced-analytics methodologies to generate insights about potential cost and value improvements. How companies transform themselves depends, to a great extent, on the capabilities they need most. How heavy digital investment separates leaders from laggards . �!%�t���I�掐��������}Muwv�,>X�Ҩ1�/0 ��꺝�"��. collaboration with select social media and trusted analytics partners There is an increasing shift towards digital in insurance Source: McKinsey –proprietary insurance database 1. Digital transformation is topping the agenda of organisations worldwide. the digital transformation. ingredients of a successful digital transformation with McKinsey’s Barr Seitz. But if these . �}����P McKinsey’s Digital Quotient (DQ) assessment tool measures maturity across four categories (strategy, culture, organization, and capabilities) and 18 management practices ranging from agility and customer focus to governance and connectivity. About the Digital Challengers research About McKinsey & Company About McKinsey in Central Europe McKinsey & Company opened its first offices in Central and Eastern Europe in the early 1990s, soon after the momentous democratic changes in the region. tab, Engineering, Construction & Building Materials, Travel, Logistics & Transport Infrastructure, McKinsey Institute for Black Economic Mobility, Nachhaltigkeit & Ressourcen­produktivität. “Investment is likely to result in lower profits for a while,” the authors added, “but without it there is a serious risk to profits in the longer term. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. hޜ��n�8�_��-��/�D ( We use cookies essential for this site to function well. ��ks��\JR��p������-�H�w� �:��� 2�w�i� Measuring the Digital Transformation: A Roadmap for the Future provides new insights into the state of the digital transformation by mapping indicators across a range of areas – from education and innovation, to trade and economic and social outcomes – against current digital policy issues, as presented in Going Digital: Shaping Policies, Improving Lives. Mark Drasutis, chief digital officer at IAG, spoke with McKinsey’s Jonathan Michael and David Pountney to discuss how he has been thinking about, influencing, and implementing change to overcome these challenges and transform a legacy business … Four key sectors warrant further discussion as they are all central to global commerce and ripe for deep transformation: buildings, data centers, industry, and infrastructure. The purpose of the Four Ds is to aid a company’s reinvention in order to find new, significant, and sustainable sources of revenue. 0 That translates into 4 trillion to 14 trillion renminbi in annual GDP in 2025. Given the nature of building and launching software, McKinsey Digital employs a wide range of people - from engineers to designers … STRATEGY, NOT TECHNOLOGY, DRIVES DIGITAL TRANSFORMATION • MIT SLOAN MANAGEMENT REVIEW 3 Strategy, not Technology, Drives Digital Transformation MExecutive Summary IT Sloan Management Review and Deloitte’s 1 2015 global study of digital business found that maturing digital businesses are focused on integrating digital technologies, such as social, mobile, … A new report from the McKinsey Global Institute (MGI), China’s digital transformation: The Internet’s impact on productivity and growth, projects that new Internet applications could fuel some 7 to 22 percent of China’s incremental GDP growth through 2025, depending on the rate of adoption. 1 ning to adopt customer-centric thinking, prompted by the consumerization of health insurance. But the problem now, as a generation ago, is that organizations too often overinvest in technology while underinvesting in the human capabilities needed to make it useful. \/���օ����fb��;ە�P�{� 6�z� The World Economic Forum gathering in January 2016 contemplated the possibilities of digital transformation under the banner of the Fourth Industrial Revolution. New, highly agile, digitally native firms are entering the market and could sig-nificantly disrupt existing business models. Financial Services technology is currently in the midst of a profound transformation, as … endstream endobj 143 0 obj <>>> endobj 144 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC]/XObject<>>>/Rotate 0/TrimBox[0.0 0.0 612.0 792.0]/Type/Page>> endobj 145 0 obj <>stream Flip the odds. A good example of digital reinvention in healthcare is the life sciences giant Johnson & Johnson: the company has undertaken a massive digital transformation of its IT organization, moving a bulk of its processing workload to a hybrid cloud environment and incorporating data lakes, data analytics, and agile development practices into its operations. In our 2016 survey, the rate of success was 20 percent; in 2014, 26 percent; and i… Essays in Digital Transformation Internet Matters Essays in Digital Transformation. Here is a summary of some of their most important advice around this topic: Digital transformation is a Trojan horse. Is an exciting new group at the forefront of corporate transformation willing to buy and... Transform themselves depends, to a great extent, on the capabilities they need most to themselves. We will be happy to work with you - Get our latest thinking on iPhone! 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Scale, the exhibit shows pharma ’ s ‘ Four Ds ’ of digital transformation with McKinsey ’ s power.

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