Digital Strategy for Competitive Advantage

Digital transformations can be driven by strategic choices or prompted by external threats.

Companies' desired outcomes and goals for their digital transformation journey.

To develop new business areas, enhance the company's TV portfolio, and diversify its businesses, while focusing on branding and customer interaction.

To strengthen their position as the top local news source and to deliver valuable information while creating value for customers.

The process of creating a plan for a company's digital transformation.

An advantage a company has over competitors by utilizing digital transformations.

A company's approach and practices for valuing and using data.

Extent to which a company's digital transformation will drastically alter its operations.

Achieving superior efficiency and effectiveness in business processes through technology.

Creating a competitive edge by standardizing processes for greater efficiency, as UPS did.

Overhauling an industry by introducing new digital technologies and models.

Substituting traditional offerings with digitally driven alternatives when faced with digital threats.

Building brand-new businesses leveraging digital technology and platforms. Nike+ is an example.

Rethinking how products, services, and data are connected to create extra value. Volvo transitioned from B2B to B2B2C.

Adjusting the company's offering to meet new needs of the market.

Technology used by Volvo connecting drivers directly to call centers, enhancing customer service.

Forces that push businesses to adopt digital technologies and change their ways of operating.

A plan to leverage digital technologies to achieve competitive advantage and expand business operations.

A fundamental change to how a company creates, delivers, and captures value, often enabled by digital technologies.

The skills, technologies, and processes a company needs to thrive in the digital age.

The ability to guide and empower an organization to effectively embrace and adapt to digital change.

Using artificial intelligence to gain an edge over competitors and improve business performance.

Challenges that companies face when trying to implement artificial intelligence.

The positive results that can be achieved by successfully integrating artificial intelligence into an organization.

The extent to which a company's digital transformation involves different areas like products, processes, and even the entire company.

The strategic purpose of technology in driving digital change - can be a catalyst for innovation, a support function, or both.

Innovative ways of operating and delivering value to customers leveraging digital technologies, transforming how a company earns revenue and interacts with customers.

The process of creating a plan for a company's digital transformation, including defining goals, identifying changes, setting measurable outcomes, and ensuring adaptability.

Ravensburger focuses on reengineering and digitizing processes to enhance customer experience, leading to a separate business unit and agile structure.

Mittelbayrische aims to improve processes through digitalization, leading to Enrichment of core products and market leadership.

Ravensburger invests in new IT systems and digital technologies to enhance customer experience, resulting in digitally enriched products.

Mittelbayrische prioritizes developing digital skills within existing staff through training programs, attracting digital natives.

Defining your Digital Ambition involves outlining your company's desired outcomes and goals for digital transformation.

Evaluating the scope of your digital transformation involves assessing the extent to which your digital future will be radically different.

Identifying changes to be made involves analyzing processes, products, business models, skills, organizational structure, and IT to understand how your company needs to adapt to its digital future.

Leveraging IT strategy involves understanding how your company can use technology to drive its strategic ambitions and achieve desired outcomes.

How a company utilizes technology to support and achieve its overall business goals during digital transformation.

Specific areas that need to be modified during a digital transformation, including processes, products, business models, skills, organizational structure, and IT systems.

Quantifiable benefits that a company can measure to assess the success of its digital transformation.

Quantifiable benefits that employees experience during and after a company's digital transformation.

A company's ability to balance exploiting existing operations with exploring new digital opportunities for continuous growth.

The factors that motivate a company to pursue digital transformation, including internal strategic decisions and external market pressures.