The Five Rules of Digital Strategy
A lot of ink has been spilled telling the stories of companies felled by digital disruption (Kodak, Blockbuster...) What gets far less attention is the way traditional incumbents are winning at the digital game. Companies like Starbucks, John Deere and Unilever have huge advantages - resources, customer relationships, and global scale, to name just a few - that when tied to the right digital strategy give them the edge over smaller rivals.
Successful digital transformation must rest on a foundation of smart digital strategy. And smart digital strategy, like traditional business strategy, is about making wise investment choices to maximize competitive advantage, growth, profit, and value - and then implementing with discipline.
Here are five rules for how to get the most from your digital strategy:
- ASSESS THE STRATEGIC IMPACT OF DIGITAL
- SET YOUR DIGITAL AMBITION HIGH
- PLACE BIG BETS
- BUILD NEW STRATEGIC MUSCLES
- MANAGE TRANSFORMATION ACTIVELY
To read the full BCG article, please click here.