The gap between the digital Haves and Have-nots has been steadily expanding. While a lot of organization on either camp are similarly invested, the real difference between their lot tends to be in decision making. A study was conducted to look into these crucial differences and thus some solutions have emerged. First of all, companies must be true to their founding values and the corresponding corporate strategy must be framed in accordance just as Lego renewed itself using own competitive advantages. Another point is that while rejigging the IT capabilities for the digital age, it is important that companies build the entire capacity to fit in with their business model as done by the likes of Airbnb, Nordstrom, Uber, Lending Club and Task Rabbit. While costs need to be cut, the saved amounts need to be invested in reimagining the world according to present business conditions. Challenges need to accepted and defunct models of yesterday dumped just as what State Street bank did by expanding into business analytics capabilities. In order to really win big in business, the existing work culture needs to be tapped in to drive increased energy in the team just as Zappos has done. Whatever is the decision made, it has to align with customer requirements and demands with IKEA being a prominent example of this approach being met.

Source:https://www.strategy-business.com/blog/How-Digital-Leaders-Outperform-Their-Peers?gko=324ad

Uploaded Date:06 October 2017