How much time does your organization have to digitally transform itself?
During the past few weeks, I’ve given a number of speeches on Digital Transformation. There is a question that I always ask at the beginning and at the end (after laying out my story of change and disruption): “How much time does your organization have to digitally transform?”
Sometimes, I ask individual audience members for their answer to that question. A lot of people respond that they have until today to transform themselves. Upon hearing this question, I believe that the listener takes it as a dual query which includes two components: by when will your industry undergo a marked change and how long will it take your organization to adapt to the change. Sometimes, I feel they are really answering the second component (e.g., “we need to start changing now). In my experience, people tend to overestimate the velocity of the former and underestimate the lethargy of accomplishing the latter (getting an organization to transform).
A year ago, I joined the New Digital Business group within BBVA, a large global bank actively transforming its business. Several weeks ago, we publicly announced