Digital transformation: opportunities to create new business models

Digital transformation: opportunities to create new business models Purpose – According to IBM research, companies seeking opportunities in an era of constant customer connectivity focus on two complementary activities: reshaping customer value propositions and transforming their operations using digital technologies for greater customer interaction and collaboration. This paper aims to address this issue. Design/methodology/approach – The paper explains that businesses aiming to generate new customer value propositions or transform their operating models need to develop a new portfolio of capabilities for flexibility and responsiveness to fast‐changing customer requirements. Findings – The paper finds that engaging with customers at every point where value is created is what differentiates a customer‐centered business from one that simply targets customers well. Customer interaction in these areas often leads to open collaboration that accelerates innovation using online communities. Practical implications – Companies focused on fully reshaping the operating model optimize all elements of the value chain around points of customer engagement. Originality/value – The article explains how companies with a cohesive plan for integrating the digital and physical components of operations can successfully transform their business models. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Strategy & Leadership Emerald Publishing

Digital transformation: opportunities to create new business models

Strategy & Leadership, Volume 40 (2): 9 – Mar 2, 2012

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Publisher
Emerald Publishing
Copyright
Copyright © 2012 Emerald Group Publishing Limited. All rights reserved.
ISSN
1087-8572
DOI
10.1108/10878571211209314
Publisher site
See Article on Publisher Site

Abstract

Purpose – According to IBM research, companies seeking opportunities in an era of constant customer connectivity focus on two complementary activities: reshaping customer value propositions and transforming their operations using digital technologies for greater customer interaction and collaboration. This paper aims to address this issue. Design/methodology/approach – The paper explains that businesses aiming to generate new customer value propositions or transform their operating models need to develop a new portfolio of capabilities for flexibility and responsiveness to fast‐changing customer requirements. Findings – The paper finds that engaging with customers at every point where value is created is what differentiates a customer‐centered business from one that simply targets customers well. Customer interaction in these areas often leads to open collaboration that accelerates innovation using online communities. Practical implications – Companies focused on fully reshaping the operating model optimize all elements of the value chain around points of customer engagement. Originality/value – The article explains how companies with a cohesive plan for integrating the digital and physical components of operations can successfully transform their business models.

Journal

Strategy & LeadershipEmerald Publishing

Published: Mar 2, 2012

Keywords: Digital enterprise transformation; Reshaping customer value propositions; Transforming operations; Customer interaction and collaboration; Operating model innovation; Business model innovation; Customer‐centric enterprise; Digitally enabled supply chain; Digital technology; Modelling

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