Here is a brief excerpt from an interview of Tanguy Catlin conducted by McKinsey Digital and Marketing & Sales practices’ Barr Seitz for the McKinsey Quarterly, published by McKinsey & Company. To read the complete article, check out other resources, learn more about the firm, obtain subscription information, and register to receive email alerts, please click here.
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When it comes to transitioning to digital, what differentiates success from struggle? In this interview, the leader of McKinsey’s Digital Quotient initiative provides some answers.
All companies need an effective digital strategy, yet many struggle with determining the best approach. In this interview, the leader of McKinsey’s Digital Quotient initiative, Tanguy Catlin, explains to McKinsey’s Barr Seitz the outcomes that drive digital performance, as well as how companies build their digital expertise and implement successful strategies. An edited transcript of each of Catlin’s videos follows.
The digital challenge
The first challenge that organizations face when it comes to digital is its pervasive nature. It applies to every single function, whether it’s HR, finance, marketing, distribution, product development, or technology. Therefore, defining who drives the digital agenda or how you coordinate it is extremely difficult, because it has such broad implications.
Companies used to think about how to protect their core position, their market share, and their customers, but digital is breaking all these barriers. Another challenge is how they prioritize spending. You need long-term road maps. Most organizations have yearlong budgets, whereas digital investments need longer term. Finally, technology is also a huge issue. How do you move at light speed in an area that changes every day when you are held hostage by technology architectures that were coded years ago?
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Caitlin then dfiscusses “How companies with high Digital Quotients are different” and “Digital pitfalls.” Here is a direct link to the complete article, one that includes video.
Tanguy Catlin is a principal in McKinsey’s Boston office and leader of McKinsey’s Digital Quotient initiative. This interview was conducted by McKinsey Digital and Marketing & Sales practices’ Barr Seitz.