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As they develop digital initiatives, companies should aim to create and track three types of value, according to a new research briefing from the MIT Center for Information Systems Research: value from operations, value from customers, and value from ecosystems.
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The briefing by researchers Ina Sebastian, Peter Weill, and Stephanie Woerner was based on in-depth interviews with 23 executives from companies around the world and an exploratory statistical analysis using data from a global survey of 1,311 executives. The three types of value collectively explained 39% of the companies’ revenue growth and 24% of their net profit margins compared to other companies in their industries.
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Today’s business leaders are adjusting to new ways to communicate and get work done. This means that digital savviness is becoming just as important as business acumen for managers and executives. The latest insights from MIT Sloan Management Review highlight how a diverse range of digital services from social media to artificial intelligence to crowdsourcing are influencing leadership styles, data-driven initiatives, and supply chain transparency.
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New research suggests that companies with digitally savvy executive teams outperform their competitors. Revenue growth is 48% higher for firms whose leaders understand how emerging technologies will impact business success, and net margins are 15% higher. Five roles have the strongest link to high performance: CEO, CFO, head of marketing, head of corporate communications, and head of compli
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Just 7% of large companies have digitally savvy executive teams, according to research published Wednesday by MIT Sloan Management Review. The authors of the study define digital savviness as an understanding, developed through experience and education, of the impact that emerging technologies will have on a business s success over the next decade.
A review of nearly 2,000 companies found that organizations with digitally savvy leaders outperformed peers on revenue growth and valuation by over 48%.
CTOs and CIOs top the list of digital experts in the C-suite, with 47% of CTOs and 45% of CIOs having digital know-how. Just 23% of CEOs are considered digitally savvy.
A key to revenue growth in Big Tech era is missing at most companies CNBC 3/3/2021 Eric Rosenbaum
JP Morgan chairman and CEO Jamie Dimon recently said he was scared s -less of fintech, and he should be, according to new MIT research, which finds only 12% of executive management teams in the financial services sector are digitally savvy.
Lack of digital skills is common across sectors and not even half of chief technology and chief information officers are found to be digitally savvy according to the MIT researchers.
The MIT Sloan Management Review reports that companies with digitally skilled management teams generate as much as 59% of revenue from recent innovations versus less than 20% at lagging peers.