As more organisations take advantage of online resources, creating a digital business is set to become a popular option for many. However, this comes with risks that companies must be willing to take, according to Gartner.
The IT researchers say companies taking on the challenge of improving their digital resources must make themselves "deliberately unstable". In other words, they must not plant their roots too deep; instead, they should remain versatile, flexible and open to changing their strategy at any given moment.
Julie Short, Research Director at the firm, explained how not doing so can increase the rather high likelihood of the business failing.
"Many organisations are either beginning, or in the midst of, digital business transformation initiatives," she began in a 22 January release by Gartner.
"We expect that only 30 per cent of these efforts will succeed. To be part of that 30 per cent, business and IT leaders must be ready and willing to innovate rapidly from a business model, business process and technology perspective."
Remaining purposefully unstable requires a new approach to communication. A company can easily find itself struggling to change direction quickly if all parts of the business are not in close contact.
One way to take a company-wide approach to communication is through a simple teleconferencing service. Regular discussions between departments will make it easy for decisions to be made, even if some members are located outside of the office.
This means when the head moves, the rest of the body will be able to follow, increasing the speed of strategic execution.
A low cost conference call also allows businesses of all sizes to collaborate without further investing in expensive hardware. By using landlines and mobile phones, there is no upgrade cost to using the service, meaning it is as versatile as your strategy.
To learn how teleconferencing works, download our free ebook today.