As digitization sweeps across China’s economy and transforms consumers’ expectations and behavior, companies in every sector are scrambling to keep up. They must reimagine customer experiences, win at e-commerce, and harness digital technology to reshape their operations and organizations.
CHROs today face an ever more difficult challenge – identifying and developing the talent to drive the transformation required in today’s organizations, individuals who can solve problems quickly and in new ways, with the fortitude to navigate in uncertainty and to accept and overcome failure through an onslaught of data and marketplace changes.
Fundamental changes in the marketplace for medicines, as well as the rapid and continuing evolution of technology are bringing new challenges and opportunities for life sciences companies and their contribution to healthcare systems.
Digital transformation is the defining challenge facing industries such as banking and retail. But the board of directors and the executive committee of companies undergoing such change must remember that they cannot transform their organization on their own.
Digital innovators from the Silicon Valley are noisily shaking up the automotive world. This has led some to wonder: Could outside players seize control of the automotive industry?
Not likely. Traditional automotive companies have plenty of what it takes – digital abilities as well as deep engineering expertise. But make no mistake, we’re dealing with a two-speed marketplace.
Banks are becoming data companies and need new leaders in the boardroom and below. Perhaps, not before time, boring banking is starting to make a comeback,” observed John Kay last week in the light of big announcements at Deutsche Bank and HSBC.
Challenged by quick-moving rivals from outside the industry, traditional financial services institutions are looking to remake themselves to meet the expectations of customers who want service that is intuitive, customized and on demand. To find the digital leaders they need to pilot that shift, financial services institutions need to follow these ten best practices.
Automotive OEMs must work in fundamentally new and different ways to deliver the Connected Car that consumers so clearly desire. The shift begins with objectively assessing and developing leaders’ potential to drive deep strategic change and build more open cultures that effectively integrate diverse expertise.
Technological transformation continues to unfold at a relentless pace. To effectively adapt to this new era, companies must recruit and develop a different kind of leadership talent. This is a big ask, because demand for leaders with deep technological acumen far outstrips supply.
In the C-suite, big data leaders must be able to show how big data generates value; how investments in big data initiatives should be targeted; and how fast the organization should move to implement them.
In February 2015, President Obama, speaking at a White House Summit on cybersecurity and consumer protection, declared that the Internet has become a sort of Wild West, where private corporations are prime targets of hackers and cyber criminals.