Weill, a Senior Research Scientist and Chair of the Centre for Information Systems Research (CISR) at the MIT Sloan School of Management, says companies designed in a non-digital era need to take some hard medicine to survive.
“The way they were designed is usually for the sixties," he told BlueNotes in an exclusive interview. “For [times that were] pre-digital, or just the introduction of digital."
“So [for banks], we have to rethink what branches do, we have to re-think how we engage with customers. The structures we've grown up with can't just be added to or tweaked a little bit, they have to be rethought."
Weill said large groups needed to have a very clear vision of what it takes to be a digital company or a company in a digital era.
“I know this is hard medicine but large organisations will have to do organisational surgery," he said.