It starts with a holistic view of digital, one that sits at the intersection of business, experience and technology. Transcenders are nearly 30% more likely to embrace this ethos. Operationalize it by investing and leading in a way to make your organization one that works with a mindset of continuous learning. That way, you can focus on the best ideas to drive business and can adapt to be more essential. (We call it BXT.)
Nearly four months into the COVID-19 pandemic, 56% of CFOs in the US said the technology investments they made during this time will leave their company better off in the long run; 73% said the same about flexible, new ways of working. Transcendent companies made many of those changes years before March 2020.
Resilience requires persistence and the vision to navigate through head-spinning change as it comes. Transcenders benefitted from building ways of working that spur the ability to pivot. That is driven by decisions they’ve made about where and how to invest in their people, processes, technology and ways of working.
Accept the fact that digital transformation doesn’t have start and end points or go project by project — 62% of Transcenders embrace that spirit and it shows. If you do the same, you’ll be more likely to arm your people with the tools and ways of working they need to adapt and develop ways to create opportunities from ongoing uncertainty and change.
Adapting to how the world watches
In 1997, Netﬂix launched as a mail-order DVD service. Monthly subscriptions meant that ﬁlm buﬀs paid less and avoided late fees. Just 10 years later, when Netﬂix distributed its billionth DVD, its model was threatened by streaming.
In the first quarter of 2020, Netflix attracted nearly 16 million new subscribers. In the second, it added 10 million, and has been able to release new content it banked before the pandemic.
“Since implementing our digital initiatives, our company culture is more innovative.”
Radio was just the start
In 1946, Sony got its start in Tokyo with about 20 employees. In the 1950s, the company broke into the U.S. market with portable radios, and demand skyrocketed from 100,000 units to 5 million in a handful of years. Sony’s rapid growth — and product quality — solidiﬁed its status as a market leader and ﬁrst-mover. The company’s founder believed Sony should “do what has never been done before.”
A drive to do more
And it has, aggressively pursuing new ventures — from compact discs and recording devices, to the popular Playstation gaming console and entertainment media. It hasn’t been all rosy, with several less-than-stellar performance years. But resilience and the drive to do more remained. Today, Sony focuses on what’s next, revolutionizing the gaming industry and developing future cloud solutions.
You are what you believe
Transcenders are more likely to take a more holistic view of digital.
PwC Digital Strategy and Innovation Leader, PwC US
Global Digital and Consumer Markets Advisory Leader, PwC US
PwC Emerging Technology Leader, US, China, and Japan, PwC US