A lot of companies are still getting their digital strategy wrong. Digital is not about using some flashy app to attract new customers or to simply shed costs. It is multi-faceted and leads to a change in the mindset. Investing in digital also means a likewise shift in the talent management approaches. Legacy companies need to tighten up the positive values they already have, while forging ahead with newer capabilities. A complete revamp is needed around four aspects which are- customer engagement, value chain operations, organizational structure and the corporate strategy. Amazon is an example of a company that has perfected its position in each of these four ways. A lot of companies or industries have even started despairing under the false belief that digitization is not for them. But in truth for every business and each branch, digital has something in store.

Source:https://hbr.org/ideacast/2018/08/understanding-digital-strategy?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert_activesubs&utm_content=signinnudge&referral=00563&deliveryName=DM13129

Uploaded Date:15 September 2018