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To identify the key factors
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that drive success
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of a digital transformation,
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BCG recently surveyed
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over 800 senior executives
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globally across all major industries
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and studied
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more than 70 digital transformations
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supported by BCG.
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The study showed
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that only 30% of digital transformation efforts
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achieved success.
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However,
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there are six key factors
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that, if addressed adequately,
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can flip the odds of success in a digital transformation
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from 30% to 80%.
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One of these six success factors
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is an agile governance mindset that
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drives broader adoption.
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BCG research
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reveals that companies that adopt an agile mindset,
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principles, and culture throughout the organization
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are over 40% more likely to succeed in their digital transformations
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than those that do not.
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One crucial element of an agile mindset
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is the ability to continue despite setbacks,
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to treat failures as opportunities to learn and pivot.
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This is so critical that,—
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as our research found,—
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leaders
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who displayed such perseverance
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were four times more likely to deliver
their intended outcomes
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than those who did not.
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What does it take to go beyond the buzzword
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and adopt a truly agile mindset?
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Based on our empirical research,
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we have developed a set of
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Yes/No questions
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that define the components
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of an agile mindset
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for digital transformation.
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These questions
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can help you assess whether your organization
can embrace this mindset.
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And BCG has a structured approach
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to help you answer
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"Yes" to these defining questions.
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There are a few other considerations
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to keep in mind regarding an agile mindset
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as you progress with your digital transformation:
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Start with why.
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Agile is a means to an end,
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not the goal in itself.
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Leaders must set forth a clear vision,
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demonstrate its urgency and value,
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and guard against backsliding into old ways of working.
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Adopt the principles,
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adapt the practices.
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Agile is a set of values,
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principles, and behaviors.
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Leaders must adopt and actively promote
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a company-wide cultural and behavioral shift,
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but adapt the practices to their specific needs.
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Change your leadership behaviors.
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Agile transformations require from executives
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something even more challenging
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than learning new behaviors.
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They must also unlearn
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behaviors that have historically led to success,
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but will not be effective going forward.
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Align to empower.
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The ability to act autonomously
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spurs ownership and creativity,
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allowing agile teams to move fast.
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The more alignment that leaders can establish,
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the more autonomy they can afford to give.
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Learn and adapt—
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at speed.
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Agile puts a premium on feedback and learning.
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Willingness to adapt
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is more important than following a plan.
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As one of the executives that I have worked with
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puts it: