Indicators of failure
Failed transformations can take many forms. They can include individual projects that do not achieve the expected business value or those that never reach completion and must be restarted. Failed transformations can have more dire results, causing a company to lose its competitive advantage with an entire product line, or even an entire company to file for bankruptcy. Failed transformation efforts, and the collapse of whole companies due to these failures, can provide us with valuable lessons. Let's look at the leading indicators of Industrial Digital Transformation (IDT) failures in the following sections.
Lack of an industrial digital transformation strategy
Did the organization develop a strategy for transformation, or it is still a collection of proof of concepts? Let's list some of the reasons that a conversation about IDT might begin in a company:
- To check the box in an annual report or a PR event that the company had an active digital...
