Digital Strategy & Transformation for Companies to Digital Business Models
The digitalisation has unleashed many macro trends that fundamentally and sustainably change enterprises, industries and society as a whole.
New marketplaces and products have emerged and let the related enterprises grow to global, dominating players condensing or even monopolizing markets and relieving many incumbents from their long-established business. Additionally, adopting new business principles on how to build, operate and sell products (e. g. perform marketing or sales more efficiently) has accelerated the growth of businesses. This movement of integrating digital technology into all areas of a business, fundamentally changing how companies operate and deliver value to customers is called digital transformation. This also implies a fundamental cultural change that requires organizations to challenge their status quo in order to experiment and get comfortable with mistakes and failure.
Many companies have made gentle steps into this digital transformation process and are still latecomers when it comes to the effective implementation of such programs and concepts: however, the risk of being overrun by the rapid change of economy and society is surging — especially in exogenous crises like we have in 2020.