Technology has enabled entirely new business models and companies to transform what value they create and how they create it.
While one company works out a digital strategy & solution to make certain work activities easier, another company with a deeper knowledge of the customer’s process, value chain, and desired outcomes figures out a way to eliminate the need for those activities altogether.
Some organizations approach developing a digital strategy with a focus on the customer journey and ways to improve or transform it.
Develop deep insights into where there is potential to create more value, new ways to solve problems, and drive outcomes, even in areas your company may not address today.
While digital technologies can make it easier and transformative for customers to do business with you, a more complete strategy will articulate how your organization will make it easier and transformative for your customers to conduct their own business and create value for their own customers.
Make developing deep and continuous insights and knowledge of customers and industry value chains part of the DNA of your organization.
Spending millions on digital strategies and technologies that do nothing but enable outdated work activities, processes, value propositions, and businesses models isn’t going to drive long-term business success.
Business strategies can emerge that do not have enough innovative thinking nor leverage how technology can open up entirely new ways of working, creating value, and even driving new business models.
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