Why product culture is important
Leadership is vital for creating a strong digital culture. They should acknowledge the significance of digital culture, communicate their vision, set clear goals, allocate resources, lead by example, encourage innovation and experimentation, and be open to feedback to drive growth and innovation through digital transformation.
To break down silos, organizations should encourage cross-functional collaboration and establish clear workflows and processes for digital initiatives. They should leverage technology to facilitate communication and use tools such as project management and digital dashboards to create a shared understanding of goals and priorities.
To build higher risk tolerance, companies should create a culture of experimentation. They should provide resources and support for innovation and celebrate successes. This includes encouraging employees to try new ideas, learning from failures, providing training and mentorship, and recognizing employees who take risks.