With every company in the world on the gold rush to establishing a digital infrastructure, there are two key questions grappling business leaders. One is about which model ought to be followed for its implementation. The other is about the right kind of people who must be in charge of this transition. If these questions are addressed, the wrong way, it will instead send the company on the opposite downward spiral. Digital business models differ fundamentally from earlier forms, and so need to be approached accordingly. Digital offers enormous scope for data warehousing, processing power and bandwidth. Before plunging headlong into this, the team needs to address the overall ambition of the firm. They also need to understand in which aspect do they most need to accelerate to ensure the correct implementation of company objectives. The company needs to be digitally mature in the most critical of its areas. A strong governance structure also ought to be implemented at first Digital natives such as Zappos or Spotify have been able to negotiate this strategic transition more smoothly. Some established firms too such as the Netherlands-based ING have come out of older, linear structures to become digital players on an equal footing.


Uploaded Date:27 February 2018

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