A company's digital transformation leverages the opportunities presented by technology— from information technology (IT) to advanced analytics, sensors, robotics, and 3D printing—to drive business forward. The entire ecosystem of the company is affected, including employees, customers, suppliers, and partners. Companies that want to digitize successfully can either improve their current business model and processes, add new sources of revenue to their business model, or replace their old business model with a new, superior model. In doing so, companies realize new customer experiences, generate new value propositions, and raise the organization to new levels of effectiveness and efficiency. Digitization thus changes structures, processes, and IT, as well as the people who live and work in this new reality.Naturally, the topic of digitization is on the agenda of most companies. Many companies have started digital initiatives, for example, in customer communications, production, or supplier interaction. However, most chief executive officers (CEOs) currently admit they do not have an overarching digital strategy. Their ideal transformation to a digital company often lacks definition, and all too often, they have too narrow an understanding of the term. Digitization is not just IT and technology; these are only the foundation. Rather, it is about transforming
Leader to Leader – Wiley
Published: Jan 1, 2018
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