If you want continued success in our digitally driven age, your company’s culture needs some close scrutiny. But it’s up to you to take a strong lead rather than hold out for an organic organisational shift, write Julie Goran, Laura LaBerge and Ramesh Srinivasan, for McKinsey Quarterly.
While studying the results of a recent McKinsey survey of global executives, they identified three common and enduring obstacles that need addressing if you want your business to thrive in the fast-moving contemporary marketplace:
- An aversion to risk and a fear of failure – for both yourself and your teams;
- An established silo mentality among your departmental teams; and
- An increasing lack of insight into what your customers really want.
These can all seriously affect your company’s future at a time when technology is making innovative investment opportunities, blurring departmental boundaries, and speedy response to customer demands is the norm.