14 quotes and stats for leaders in the digital economy

“Your long-term success is not only determined by what you achieve alone, but also by how you strengthen, involve, support and promote your colleagues and teams in your environment.”

This advice from Carol Cohen, Senior Vice President of Global Talent and Transformation at Cognizant, outlines that Challenges for digital leaders leaders how they help their employees and organizations to thrive in the midst of technological and cultural changes.

Here are some more insights and some data points for running a business in today’s digital economy.

“One of the great roles of executives [during a digital transformation] is to create a safe, supportive environment in which people can learn. You can not [learn] when they constantly feel that their job is in jeopardy or that their reputation is in some way jeopardized. “ – Kristine Dery, researcher, MIT Center for Information Systems Research Continue reading

“The ability to envision and drive change is just as important as the ability to work with technology. If you don’t have both, you cannot be successful in this world. “ – George Westerman, Senior Lecturer, MIT Sloan Continue reading

Just 9% of respondents indicated that their executives have the skills or behavior required to lead in the digital age, according to a report from MIT Sloan Senior Lecturer Douglas Ready.

“Instead of assuming that just one group has all the solutions, look for those who have already solved the challenges or created something promising … It’s really about harnessing collective genius. We can organize ourselves across the board and solve many more of these problems faster. ” Megan Smith, former US Chief Technology Officer Continue reading

“The formation, alignment and strengthening of diverse teams is one of the best ways to discover and develop new ideas.” – Craig Robinson, former global head of Powered by We, WeWork’s technology, development, and management services division Continue reading

“Most leaders are made to think, ‘Oh, here are the things to do,’ but they often don’t step back and think about how certain roles are changing and what that means for people who work at experience a significant identity change at work. “ – Hal Gregersen, Senior Lecturer, MIT Sloan Continue reading

“Even if the managers change [old processes and systems], they have to find a way for more experienced members to leave the old hierarchy and rise in the new one. “ – Kate Kellogg, Professor of Work and Organizational Studies, MIT Sloan Continue reading

On the subject of matching items

Great company with digitally savvy Management teams outperformed comparable companies without such teams by more than 48% based on sales growth and valuation, according to researchers from the MIT Center for Information Systems Research.

“The great advantage of a good director or manager in a company is that he understands his business and his market very well. The challenge is also to have a good understanding of your business. So when a new technology hits the market, it’s harder to think about how that technology could really change the way you run your business. Dan Huttenlocher, Inaugural Dean of MIT Schwarzman College of Computing Continue reading

“Executives [at data-savvy firms] Use KPIs to run the business, not just manage it. You want KPIs to inspire, not just inform. Every company I advise has this performance management challenge as a leadership priority. ” – Michael Schrage, visiting scholar, MIT Initiative on the Digital Economy Continue reading

“If you won’t be able to be data driven and [hold] Your team is in charge from above, it will not flow down. Leadership is the key. Data literacy projects should not be started without executives being part of the program. ” – Piyanka Jain, President and CEO, Aryng Continue reading

“We try to develop new technologies, to develop new offers that are always linked to our core business.” – Dirk Heiss, Head of Digital Platforms, Munich Re Continue reading

“Go out on the branch, there is all the fruit. Take a few risks – trust your people to admire you for it. Leadership is a privilege. Accept it as you build a community of leaders in this new economy. ” – Doug Ready, senior lecturer, MIT Sloan Continue reading

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