Shattering the Status Quo

Business models that historically made many companies successful are becoming the bane of their existence. Former strengths like size, structure and culture are fast becoming liabilities as established companies struggle for agility in the digital world. Once the gold standard for information, Encyclopedia Britannica announced an end
to printed editions in 2012 after 244 years. In 2010, U.S. Internet ad revenue surpassed newspaper ad revenue 305 years after the first newspaper ad appeared.

Many companies are falling behind nimble new entrants that are setting—even leapfrogging—the pace of change, and are inherently structured to reap the benefits of digital success. The good news is that all is not lost. There
are significant opportunities for companies that embrace digital realities and use them to drive customer relevancy.

For most companies, digital transformation will require reorientation around an “outside-in” lens to deliver enduring customer relevance at scale. Companies should first consider the visible part of their business—everything that customers experience directly. With a clear picture of the customer journey, companies can then align the parts of the business that customers do not see—internal operations and technology infrastructure—because
these elements make or break the customer experience