Taiwan is running out of time to stay competitive as the rest of the world embraces digitalization and the productivity gains it entails. It’s about time the people at the top of its companies put digital at the center of their business strategy.
The News Lens
Date: 2017/09/27
By: David Green
Taiwan is lagging in the global race to digitalize and its lack of ambition in the
Photo Credit: Depositephotos
boardrooms of the nation’s hi-tech companies in particular is the problem.
In what represents a clarion call for Taiwan’s aging and inflexible executives, McKinsey & Co. today said that Taiwan is falling behind its chief rivals as a result of its failure to digitize fast enough.
“Complacency is the biggest problem in Taiwan,” said McKinsey Senior Partner Bill Wiseman. “You’ve got to make a big bet. Management in Taiwan is either unwilling or don’t know because they’re too insular.”
McKinsey has obvious skin in the game in urging CEOs to embrace digital, but the report released today, “Taiwan’s Digital Imperative: How a Digital Transformation Can Re-Ignite Economic Growth” nails some important home truths. [FULL STORY]
