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Management Journal Article hero
Management Journal Article

What it means to be a ‘future-ready’ firm

Firms that have successfully executed a digital transformation have significantly higher financial performance. A new book offers guidance on how to get there.
By Stephanie L. Woerner, Peter Weill, and Ina M. Sebastian
Abstract

Scientists from the MIT Center for Information Systems Research found companies that have executed a digital transformation have significantly higher financial performance — with average revenue growth of 17.3 percentage points and net margins of 14.0 percentage points above industry averages. Yet a study of 1,311 global firms found only 22% are what CISR researchers call “future ready” — that is, having gone through business transformation that allows them to leverage digital capabilities to innovate, engage, and satisfy customers while reducing costs. A new book by CISR research scientists Stephanie Woerner, Peter Weill, and Ina Sebastian offers guidance to leaders whose companies haven’t yet reached that state.

About the Authors

MIT CENTER FOR INFORMATION SYSTEMS RESEARCH (CISR)

Founded in 1974 and grounded in MIT's tradition of combining academic knowledge and practical purpose, MIT CISR helps executives meet the challenge of leading increasingly digital and data-driven organizations. We work directly with digital leaders, executives, and boards to develop our insights. Our consortium forms a global community that comprises more than seventy-five organizations.

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Cemex (Mexico)
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CIBC (Canada)
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Commonwealth Superannuation Corp. (Australia)
Cuscal Limited (Australia)
CVS Health
Dawn Foods
DBS Bank Ltd. (Singapore)
Doosan Corporation (Korea)
Fidelity Investments
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Genentech
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Mercer
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NN Insurance Eurasia NV
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Principal Life Insurance Company
QBE
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Reserve Bank of Australia
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Terumo Corporation (Japan)
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