Digital Disruption: Transforming Your Company for the Digital Economy.
Digital disruption refers to the process by which new digital technologies and business models disrupt traditional industries and create new opportunities for growth and innovation. To transform a company for the digital economy, companies must take a strategic and holistic approach to digital transformation. Here are some steps that can be taken to achieve that:
- Develop a digital strategy: A company should develop a comprehensive digital strategy that outlines its goals and objectives for digital transformation, and the steps it will take to achieve them.
- Embrace digital technologies: Companies should invest in digital technologies such as cloud computing, big data, artificial intelligence (AI), and the internet of things (IoT) to improve their operations and gain a competitive advantage.
- Create a digital culture: Companies should create a digital culture that supports innovation, experimentation, and continuous learning. This includes upskilling and reskilling employees to work in a digital environment.
- Invest in digital infrastructure: Companies must invest in the digital infrastructure necessary to support their digital transformation, such as digital platforms and tools for data management and analytics.
- Foster digital partnerships: Companies should collaborate and partner with other organizations, such as start-ups, to gain access to new technologies and business models that can help drive digital transformation.
- Embrace digital business models: Companies should explore new digital business models that can help them to better serve customers and create new revenue streams.
- Continuously adapt and improve: Companies must continuously adapt and improve their digital capabilities to stay ahead of the curve and to be prepared for any future changes in the digital landscape.
By taking these steps, companies can successfully transform themselves for the digital economy, and be well-positioned to compete and thrive in the digital age.
Digital disruption is happening throughout business. Whether it is IoT, Big Data, Cloud, Machine Learning…, we need to be ready for the digital disruption. This is an hour long presentation from MIT Sloan Executive Education.
Digital Disruption/Economy Training.
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