A recent viral post on social media showed the CEO of Nokia expressing regret and lamenting with tears for losing the battle in the mobile phone arena. The ordeal Nokia faced has happened to thousands of other companies, big and small. What happened? How did these big companies miss the train?
The answer to all these questions is not lack of awareness on the part of leadership of the companies that failed. It is complacence, or the reluctance to change with time. Digital Transformation – necessitated by the arrival of technologies such as cloud, mobility, social media and big data – has become a reality that business can ignore only at their own peril.
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