The discussion of digital technology and social change is part of the broader literature of innovation theory.1 Inno‑vation theory is most commonly based on Schumpeter’s notion of socioeconomic evolution through technological change.2,3 The reputed “prophet of innovation” himself gave it an illustrative name: “creative destruction.”4Creative destruction works on different levels, reaching from product cycles, over fashion and investment‑ lifecycles (including so-called Kitchin and Juglar cycles), to so-called business cycles. The result is “an indefinite number of wavelike fluctuations which will roll on simultaneously and inter‑fere with one another in the process...

A culture conducive to digital transformation is a hallmark of maturing companies. These organiza­tions have a strong propensity to encourage risk taking, foster innovation and develop collabora­tive work environments. “Culture needs to support collaboration and creativity,” says Mohamed­Hédi Charki, an associate professor at EDHEC Business School in France who focuses on the outcomes as­sociated with the implications of an enterprise social network at a European cosmetics company. “In this fast­changing, complex world, if a company sees innovation as something incremental, it will be mar­ginalized in the coming years.

Whatever the end state of digital transformation turns out to be, reaching it is not simply about technology. Our research found a truism that is often lost in the face of technology hype: Digital maturity is the product of strategy, culture and leadership. To position their orga­nizations to move forward into a digitally transformed future, business leaders should tackle these questions

The digital transformation of business is a new phenomenon, and no company has yet reached the end state nor definitively defined it