To better understand the state of digital transformation across Taiwan's industries, the Marketing Intelligence & Consulting Institute (MIC) and prestigious IMD have collaborated for the first time in 2023 by conducting IMD's survey in late 2022 to examine how Taiwan's businesses are faring in addressing the challenges of digital disruption by benchmarking them against global peers. Based on MIC's findings, high-level executives around the world are concerned about digital disruption, with 75% of Taiwanese respondents and 82% of global respondents reporting that their C-suites are concerned. IMD first released the global data version of the Digital Vortex in 2015, and since then, it has updated the survey and continued to offer new insights. Free 2023 Digital Vortex report can be downloaded at MIC ENGLISH (iii.org.tw)
Attitude towards Digital Disruption, Global vs. Taiwan
Based on our findings, both the global and Taiwanese data revealed that even today, as much as 40% of firms are either not aware of digital disruption, or not responding to it appropriately. In Taiwan, merely 28% of the surveyed executives expressed that their organizations were actively responding to digital disruption whereas 32% of them said their organization were taking a "wait-and-see" approach, compared to the global numbers of 35% and 26%, respectively.
The Digital Vortex 2023: Taiwan vs. Global Trends report is a production of the Market Intelligence & Consulting Institute (MIC) at the Institute for Information Industry (III) and the Global Center for Digital Business Transformation at the IMD Business School.
Institute for Information Industry (III)
III is a non-profit organization that promotes the development of information technology in Taiwan. In response to the wave of digital transformation, III has repositioned itself as a digital transformation enabler since 2018 by integrating the resources of government think tanks, talent cultivation, information and communications technology (ICT) research and development (R&D) and promotional strategies to develop solutions and applications to better tap into industrial needs. The ultimate goal is to drive digital transformation across all stakeholders including the government, industry and society.
Market Intelligence & Consulting Institute (MIC)
MIC, a division of III, is an institute dedicated to conducting technology, product, market, and trend research across various fields of the ICT industry to provide real-time and efficient consulting services for global ICT brands, financial institutions, and academic institutions. It also plays its role as a major government think tank to provide policy advice and analysis to the Taiwanese government.
The International Institute of Management Development (IMD)
IMD is an independent business school with Swiss roots and global reach. Focused on developing leaders and transforming organizations, IMD designs and delivers interventions that challenge what is and inspire what could be. IMD has been ranked in the top three of the FT's Executive Education Rankings (combined ranking for open & custom programs) since 2012. It has also been in the top five for more than 15 consecutive years.
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