By 2024, leaders in 50% of organisations on the Forbes’ Global 2000 list of the world’s largest public companies will have mastered “future of culture” traits such as empathy, empowerment, innovation, and customer and data centricity to achieve leadership at scale.
That’s according to the latest insights from International Data Corporation (IDC), which believes that the biggest barrier to effective digital transformation is not technology, nor the lack of strategy or budget, but an organisation’s culture.
“Leading companies are racing toward becoming future enterprises, a journey where taking operations and innovation to scale is the measure of success,” says Meredith Whalen, chief research officer at IDC.
“Relying on past accomplishments and inertia is no longer an option — to thrive, organisations need to build a culture that fosters change, and this means redefining commonly accepted values, processes, corporate structures, and metrics.
“Culture and leadership are interwoven, and since founders and leaders can imprint values and behaviors that persist for decades, they can also shape those values when change is required.”