Digitalization isn’t a monolithic strategy. The executive team must frame its digital ambitions to set strategy — defining the type and extent of desired business outcomes. This is what drives investment priorities and the relative timing of digital initiatives. Outcomes from digitalization fall into two broad categories: 1. Digital optimization outcomes from improving existing processes and customer experiences 2.Digital transformation outcomes from reinventing how the organization serves its market through net-new products, services or business models A more successful digitalization strategy pursues transformation and optimization in parallel: Focus on digital business transformation initiatives in a small number of high-potential product/service lines, business units or corporate functions; and digital business optimization initiatives to achieve nearer-term benefits in complementary functions.
Posted by Oliver-Lawrence at 2024-09-04 10:35:07 UTC