We have found that business model transformation is essential for legacy companies to win in a world where technology is consuming every industry under the sun. However, to implement a successful transformation from things and people to technology and networks, a company needs two essential parties working in lockstep. Each party needs to be fully committed to the journey. Each party needs to be willing to reallocate their time, attention and financial and human capital to the transformation agenda. Instead, accept that effort and action are needed and navigate your board and executive team through the step-by-step process for digital transformation.

Source: Forbes January 13, 2017 18:28 UTC