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"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital age, Digital Transformation, Leadership (12/8/2021)

OPPORTUNITY, HBS

As Professor Linda Hill set out to study “digital leaders,” the first thing she learned is that there is no such thing. All leaders—regardless of their sector—must think differently to lead a successful company in the digital age, explains Hill, the Wallace Brett Donham Professor of Business Administration and faculty chair of the Leadership Initiative.
Leadership in the digital age means being comfortable with uncertainty. These leaders know how to adopt new approaches quickly, they admit failure, and they welcome collaboration, Hill says. “Today’s leaders must be informed about technological trends and the possibilities they present to continually improve operational efficiencies and—even more importantly—customer experiences.”
With the assistance of six HBS Global Research Centers, Hill and her Leadership Initiative team hosted a series of virtual roundtable discussions on the pressing issues that accompany digital transformation. The goal: to examine how leadership has evolved in the 21st century and to produce research, case studies, and courses based on that knowledge to educate a new generation of executives.

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“It’s impossible to lead an organization today without a deep understanding of how to build and run a truly data-driven organization. That includes having the right culture, processes, governance, et cetera,” says Avid Larizadeh Duggan (MBA 2006). The venture capital investor, who serves as a non-executive director for Barclays UK, participated in a roundtable organized by the Europe Research Center.

For instance, leadership in the digital age means building a customer-focused organization. “You really have to earn the trust of your customer to collect their data,” Hill explains. “The needs and desires of the customer should be driving why you are collecting data and how you are using it.”
Participants also agreed that running a company in the modern day requires distributed leadership and decision making. “The democratization of data is critical to creating an organization that is agile and can continuously learn,” Hill notes.
Many executives who joined the roundtable hosted by the Asia-Pacific Research Center and the Harvard Center Shanghai discussed the rapid pace of technological advancement and how to respond quickly to customer demand for frictionless mobile interaction, both in the B2C and B2B spaces.

Category 2: The Big Picture of the Digital Age
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