1 00:00:01,040 --> 00:00:02,120 Our research 2 00:00:02,120 --> 00:00:04,240 shows that one of the six key factors 3 00:00:04,240 --> 00:00:07,240 that can flip the odds of success for digital transformation 4 00:00:07,240 --> 00:00:09,480 from 30% to 80% 5 00:00:09,560 --> 00:00:11,520 is an agile governance mindset that 6 00:00:11,520 --> 00:00:13,440 drives broader adoption. 7 00:00:13,440 --> 00:00:14,280 BCG research 8 00:00:14,280 --> 00:00:17,360 also reveals that companies that adopt an agile mindset, 9 00:00:17,360 --> 00:00:20,480 principles, and culture throughout the organization 10 00:00:20,480 --> 00:00:25,200 are over 40% more likely to succeed in their digital transformations 11 00:00:25,200 --> 00:00:27,000 than those that do not. 12 00:00:28,080 --> 00:00:30,280 One crucial element of an agile mindset 13 00:00:30,280 --> 00:00:33,440 is the ability to continue despite setbacks, 14 00:00:33,440 --> 00:00:36,720 to treat failures as opportunities to learn and pivot. 15 00:00:37,000 --> 00:00:38,760 This is so critical that,— 16 00:00:39,120 --> 00:00:40,200 as our research found,— 17 00:00:40,320 --> 00:00:41,080 leaders 18 00:00:41,080 --> 00:00:42,960 who displayed such perseverance 19 00:00:42,960 --> 00:00:46,840 were four times more likely to deliver their intended outcomes 20 00:00:47,200 --> 00:00:48,520 than those who did not. 21 00:00:49,600 --> 00:00:51,880 What does it take to go beyond the buzzword 22 00:00:51,880 --> 00:00:54,400 and adopt a truly agile mindset? 23 00:00:55,480 --> 00:00:57,680 Based on our empirical research, 24 00:00:57,680 --> 00:00:59,080 we have developed a set of 25 00:00:59,080 --> 00:01:00,240 Yes/No questions 26 00:01:00,240 --> 00:01:01,760 that define the components 27 00:01:01,760 --> 00:01:03,080 of an agile mindset 28 00:01:03,080 --> 00:01:04,680 for digital transformation. 29 00:01:05,400 --> 00:01:06,440 These questions 30 00:01:06,440 --> 00:01:10,440 can help you assess whether your organization can embrace this mindset. 31 00:01:10,840 --> 00:01:12,920 And BCG has a structured approach 32 00:01:12,920 --> 00:01:14,280 to help you answer 33 00:01:14,280 --> 00:01:16,840 "Yes" to these defining questions. 34 00:01:17,080 --> 00:01:18,960 There are a few other considerations 35 00:01:18,960 --> 00:01:21,480 to keep in mind regarding an agile mindset 36 00:01:21,480 --> 00:01:24,040 as you progress with your digital transformation: 37 00:01:24,440 --> 00:01:25,560 Start with why. 38 00:01:25,720 --> 00:01:27,360 Agile is a means to an end, 39 00:01:27,360 --> 00:01:28,720 not the goal in itself. 40 00:01:29,080 --> 00:01:31,600 Leaders must set forth a clear vision, 41 00:01:31,600 --> 00:01:33,680 demonstrate its urgency and value, 42 00:01:33,680 --> 00:01:37,400 and guard against backsliding into old ways of working. 43 00:01:38,600 --> 00:01:39,960 Adopt the principles, 44 00:01:39,960 --> 00:01:41,360 adapt the practices. 45 00:01:41,360 --> 00:01:42,960 Agile is a set of values, 46 00:01:42,960 --> 00:01:44,320 principles, and behaviors. 47 00:01:44,520 --> 00:01:47,240 Leaders must adopt and actively promote 48 00:01:47,240 --> 00:01:50,360 a company-wide cultural and behavioral shift, 49 00:01:50,360 --> 00:01:53,680 but adapt the practices to their specific needs. 50 00:01:54,560 --> 00:01:56,280 Change your leadership behaviors. 51 00:01:56,560 --> 00:01:59,280 Agile transformations require from executives 52 00:01:59,280 --> 00:02:01,080 something even more challenging 53 00:02:01,080 --> 00:02:02,960 than learning new behaviors. 54 00:02:03,080 --> 00:02:04,960 They must also unlearn 55 00:02:04,960 --> 00:02:07,800 behaviors that have historically led to success, 56 00:02:07,800 --> 00:02:10,320 but will not be effective going forward. 57 00:02:10,920 --> 00:02:12,200 Align to empower. 58 00:02:12,200 --> 00:02:14,400 The ability to act autonomously 59 00:02:14,400 --> 00:02:16,400 spurs ownership and creativity, 60 00:02:16,520 --> 00:02:18,920 allowing agile teams to move fast. 61 00:02:18,920 --> 00:02:21,600 The more alignment that leaders can establish, 62 00:02:21,600 --> 00:02:23,920 the more autonomy they can afford to give. 63 00:02:24,520 --> 00:02:25,560 Learn and adapt— 64 00:02:25,880 --> 00:02:26,560 at speed. 65 00:02:26,560 --> 00:02:29,320 Agile puts a premium on feedback and learning. 66 00:02:29,320 --> 00:02:30,640 Willingness to adapt 67 00:02:30,640 --> 00:02:32,880 is more important than following a plan. 68 00:02:33,400 --> 00:02:35,520 As one of the executives that I have worked with 69 00:02:35,520 --> 00:02:36,160 puts it: