This past week, the McKinsey Quarterly published an article entitled Transformation with a Capital T. Authors Michael Bucy, Stephen Hall, and Doug Yakola discuss the importance of abandoning routine thinking and behaviors. The advice in this article is so pertinent to the printing industry that it is worth sharing.

It is no secret that with digitalization, the printing industry is facing some major challenges. Savvy printers understand that they can no longer afford to simply play in the manufacturing business. It is important to become an integral part of the customer-centric digital experience business. That is where all the value is added. Cranking out impressions on the shop floor has become a commodity, so you need to change your business model if you want to remain competitive. To open up new possibilities and opportunities for growth, you must make a transformation that involves embracing digital technology. According to the McKinsey article, making this transformation requires exploiting new digital technologies and also conducting a strategic rethink. Although it is not easy to transform a printing business, this article offers five key factors that owners and managers should consider to help increase their chances of success.

Savvy business owners are beginning to recognize that a new approach is the only way to dramatically improve long-term performance. To create long-term upward momentum, business leaders must have the determination to shed deeply-ingrained steady state habits. All transformations start at the top, and senior executives must develop a new culture of execution.