McKinsey & Company, ranked #1 of the Big 4, claims that seventy percent of transformations fail and contributing factors include insufficiently high aspirations, a lack of engagement within the organization, and insufficient investment in building capabilities across the organization to sustain the change, among others.
With a low probability for success, why would leadership and boards take such a risk? Especially knowing that actual transformational change can be messy and costly.
McKinsey & Company. Unlocking success in digital transformations. October 29, 2018.
Consulting.us. Study of 900 digital transformations: Only 30% are successful. February 23, 2021.