Bain and Company has identified some rules that make up the digital strategy across companies and industries. While implementing any corporate strategy, based around the digital norms, the latter’s overall impact needs to be assessed. This can have major repercussions on the entire business economics of the ecosystem. Risks need to be assessed along with the possibilities. The digital ambition must be high enough. Big bets need be taken. There is greater chance of digital strategies cracking up due to a lack of ambition, and not otherwise. Kodak’s is a classic example, universally understood. French car maker Renault on the other hand succeeded in it. The digital strategy also needs to be more collaborative, in comparison to the traditional ones. Emerging markets often tend to disrupt as opposed to the developed markets’ push as seen in the other. There must be a constant push to develop new strategic capabilities. Crucially, the transformation needs to be managed proactively.

Source:https://www.bcg.com/publications/2019/five-rules-digital-strategy.aspx

Uploaded Date:24 June 2019