Why your enterprise keeps failing at digital transformation
Digital transformation has been pivotal to General Electric’s (GE) corporate strategy for years. The company first announced its Predix industrial software platform in 2013 and has since positioned itself as a “digital industrial” company. Though GE started to cover ground toward its digital transformation goals and began generating revenue from the Predix platform, the company ultimately failed to drive an organization-wide evolution. Decisions about what technology to implement were made by individual business units, and the GE Digital arm was tasked with turning a profit quickly rather than with a focus on meeting customer needs. The result: The departure of its CEO last year and the decline of its stock value from $250 billion in 2015 to $90 billion in 2019.
Read the full article at Forbes.com.
About the Author
Lou Powell brings a steadfast drive for innovation to his role as partner at PK, where he works closely with businesses to create pioneering experiences and accelerate outcomes, unlocking greater value and market leadership. He worked in advertising and digital marketing before launching his own business, Vanick Digital, which he led for 19 years before acquisition by PK. Lou is a lifelong student of technology pattern adoption and the practices of tech natives, and he brings a design-thinking approach to technology in all of his work.Tags: Digital Transformation, General Electric, Software