Digital Innovation Strategy

Digital transformation is no longer news--it's a necessity. Despite the widespread threat of disruption, many large companies in traditional industries have succeeded at digitizing their businesses in truly transformative ways. The New York Times, formerly a bastion of traditional media, has created a thriving digital product behind a carefully designed paywall. Best Buy has transformed its business in the face of Amazon's threat. John Deere has formed a data-analysis arm to complement its farm-equipment business. And Goldman Sachs and many others are using digital technologies to reimagine their businesses. In Driving Digital Strategy, Harvard Business School professor Sunil Gupta provides an actionable framework for following their lead. For over a decade, Gupta has studied digital transformation at Fortune 500 companies. He knows what works and what doesn't. Merely dabbling in digital or launching a small independent unit, which many companies do, will not bring success. Instead you need to fundamentally change the core of your business and ensure that your digital strategy touches all aspects of your organization: your business model, value chain, customer relationships, and company culture. Gupta covers each aspect in vivid detail while providing navigation tips and best practices along the way. Filled with rich and illuminating case studies of companies at the forefront of digital transformation, Driving Digital Strategy is the comprehensive guide you need to take full advantage of the limitless opportunities the digital age provides.

Two world-renowned strategists detail the seven leadership imperatives for transforming companies in the new digital era. Digital transformation is critical. But winning in today's world requires more than digitization. It requires understanding that the nature of competitive advantage has shifted—and that being digital is not enough. In Beyond Digital, Paul Leinwand and Matt Mani from Strategy&, PwC's global strategy consulting business, take readers inside twelve companies and how they have navigated through this monumental shift: from Philips's reinvention from a broad conglomerate to a focused health technology player, to Cleveland Clinic's engagement with its broader ecosystem to improve and expand its leading patient care to more locations around the world, to Microsoft's overhaul of its global commercial business to drive customer outcomes. Other case studies include Adobe, Citigroup, Eli Lilly, Hitachi, Honeywell, Inditex, Komatsu, STC Pay, and Titan. Building on a major new body of research, the authors identify the seven imperatives that leaders must follow as the digital age continues to evolve: Reimagine your company's place in the world Embrace and create value via ecosystems Build a system of privileged insights with your customers Make your organization outcome-oriented Invert the focus of your leadership team Reinvent the social contract with your people Disrupt your own leadership approach Together, these seven imperatives comprise a playbook for how leaders can define a bolder purpose and transform their organizations.

A trio of experts on high-tech business strategy and innovation reveal the principles that have made platform businesses the most valuable firms in the world and the first trillion-dollar companies. Managers and entrepreneurs in the digital era must learn to live in two worlds—the conventional economy and the platform economy. Platforms that operate for business purposes usually exist at the level of an industry or ecosystem, bringing together individuals and organizations so they can innovate and interact in ways not otherwise possible. Platforms create economic value far beyond what we see in conventional companies. The Business of Platforms is an invaluable, in-depth look at platform strategy and digital innovation. Cusumano, Gawer, and Yoffie address how a small number of companies have come to exert extraordinary influence over every dimension of our personal, professional, and political lives. They explain how these new entities differ from the powerful corporations of the past. They also question whether there are limits to the market dominance and expansion of these digital juggernauts. Finally, they discuss the role governments should play in rethinking data privacy laws, antitrust, and other regulations that could reign in abuses from these powerful businesses. Their goal is to help managers and entrepreneurs build platform businesses that can stand the test of time and win their share of battles with both digital and conventional competitors. As experts who have studied and worked with these firms for some thirty years, this book is the most authoritative and timely investigation yet of the powerful economic and technological forces that make platform businesses, from Amazon and Apple to Microsoft, Facebook, and Google—all dominant players in shaping the global economy, the future of work, and the political world we now face.

A practical, research-based approach to digital innovation strategy ideal for advanced undergraduates, MBA students, and professionals.

Leveraging Digital Transformation by M. Nadia Vincent is a practical guide for business executives, C-levels, digital transformation leaders, and IT managers alike as they implement digital transformation in their organizations or businesses. In this book, you will learn about: 1. Creating your transformative vision for sustainable organizations and businesses 2. Facilitating self-transformation for leaders so they inspire individual transformations and engagement in their organizations 3. Creating environments that are efficient and promote business innovation and disruption 4. Empowering leaders with a progressive mindset so they embrace change and make better personal, business, and digital choices 5. Innovating using breakthrough digital business strategy 6. Digitally enabling organizations for faster deliveries and increased business performance 7. Converting digital transformation and innovation into a lucrative investment for increased ROI 8. Adopting and implementing artificial intelligence for the new business intelligence.

Based on applied economics and from the perspective of an innovator seeking to develop a new digital business, this textbook is aimed at MBA and advanced undergraduate audiences interested in innovation strategy and competition in digital industries. Step-by-step, the book guides innovators through a dynamic market analysis and business model design, leading to an assessment of the future evolution of the market and the broader innovation ecosystem, and what the innovator can do to position the innovation for continued success. Each chapter defines and provides references for key concepts that can be further explored through suggested readings and study questions. Real-world case studies further facilitate forming a comprehensive view on how to resolve strategic challenges of digital innovation. The topics covered in this text are essential for a broad range of managers, consultants, entrepreneurs, technologists, and analysts to understand in depth.

Digital innovations influence every aspect of life in an increasingly digitalized world. Firms pursuing digital innovations must consider how digital technologies shape the nature, process and outcomes of innovation as well as long- and short-term social, economic and cultural consequences of their offerings. This Handbook contributes to a transdisciplinary understanding of digital innovation with a diverse set of leading scholars and their distinct perspectives. The ideas and principles advanced herein set the agenda for future transdisciplinary research on digital innovation in ways that inform not only firm-level strategies and practices but also policy decisions and science-focused investments.

Rethink your business for the digital age. Every business begun before the Internet now faces the same challenge: How to transform to compete in a digital economy? Globally recognized digital expert David L. Rogers argues that digital transformation is not about updating your technology but about upgrading your strategic thinking. Based on Rogers's decade of research and teaching at Columbia Business School, and his consulting for businesses around the world, The Digital Transformation Playbook shows how pre-digital-era companies can reinvigorate their game plans and capture the new opportunities of the digital world. Rogers shows why traditional businesses need to rethink their underlying assumptions in five domains of strategy—customers, competition, data, innovation, and value. He reveals how to harness customer networks, platforms, big data, rapid experimentation, and disruptive business models—and how to integrate these into your existing business and organization. Rogers illustrates every strategy in this playbook with real-world case studies, from Google to GE, from Airbnb to the New York Times. With practical frameworks and nine step-by-step planning tools, he distills the lessons of today's greatest digital innovators and makes them usable for businesses at any stage. Many books offer advice for digital start-ups, but The Digital Transformation Playbook is the first complete treatment of how legacy businesses can transform to thrive in the digital age. It is an indispensable guide for executives looking to take their firms to the next stage of profitable growth.

This cutting-edge new textbook examines how effective knowledge management can make organizations more innovative. Blending an extensive body of international research and analysis with examples of practical implementation, it demonstrates how organizational structures and strategies combined with digital technologies can better foster innovation. Critically rigorous and full of engaging pedagogy, this accessible textbook will enable readers to understand the complexity of innovation processes and the opportunities and challenges that face managers as they exploit new technologies to produce value. Contemporary case studies based on the authors' original research and focused on international organizations from a range of industries demonstrate the applicability of key theories and concepts to real-world practical opportunities. This is an essential textbook for upper undergraduate, postgraduate and MBA students studying knowledge management and innovation. It is also suitable for any student of organisation studies wanting to understand more about the role that the digital has to play in fostering innovation and managing knowledge.

Digital transformation is not about technology--it's about change. In the rapidly changing digital economy, you can't succeed by merely tweaking management practices that led to past success. And yet, while many leaders and managers recognize the threat from digital--and the potential opportunity--they lack a common language and compelling framework to help them assess it and guide them in responding. They don't know how to think about their digital business model. In this concise, practical book, MIT digital research leaders Peter Weill and Stephanie Woerner provide a powerful yet straightforward framework that has been field-tested globally with dozens of senior management teams. Based on years of study at the MIT Center for Information Systems Research (CISR), the authors find that digitization is moving companies' business models on two dimensions: from value chains to digital ecosystems, and from a fuzzy understanding of the needs of end customers to a sharper one. Looking at these dimensions in combination results in four distinct business models, each with different capabilities. The book then sets out six driving questions, in separate chapters, that help managers and executives clarify where they are currently in an increasingly digital business landscape and highlight what's needed to move toward a higher-value digital business model. Filled with straightforward self-assessments, motivating examples, and sharp financial analyses of where profits are made, this smart book will help you tackle the threats, leverage the opportunities, and create winning digital strategies.