Companies are Playing in the Digital First Inning with Rich Nanda, US Monitor Deloitte Practice Leader, Deloitte Consulting

With so much change happening at such a fast pace, the digital transformation process can feel like it must be extremely far along and, perhaps, near completion. Companies have been moving as speedily as possible to adapt their businesses to the digital realm and, in many cases, to create new digital territories altogether. If digital transformation was a baseball game, it could be easy to assume that the transition is in the latter innings. Rich Nanda, the US Monitor Deloitte Practice Leader at Deloitte Consulting, offers a contrary perspective.

Main Takeaways

• Consultation with Specificity and a Broad Vision: With the intensity of digital transformation happening across all sectors, consultants must adjust their skillsets. On one hand, they must have thorough domain expertise. Yet, on the other hand, consultants must be able to take a broader view as well in order to best guide their clients in these fast-moving times. 
• Growth Versus Fixed Business Mindset: To be successful, leaders must adopt a growth mindset over a fixed mindset. A fixed mindsight is rigid and sees the world as locked in place. A growth mindset accepts that change is inevitable. With a growth mindset, change is seen as an opportunity rather than a problem.
• Opportunities for Expansion: Projecting forward, there will be amazing opportunities for expansion. Companies will be in a position for more mergers and acquisitions. Some companies will jump outside their typical lane to pursue more opportunities. Companies not traditionally thought of as intrinsically associated with tech, or software, may find unique opportunities to delve into new digital territories.

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