Online Strategic Growth
By any measure, the world is increasingly digital. So the most fundamental questions for business leaders are these: how will digital technology deliver growth? And what must we do to ensure that we become a truly digital business? To properly answer those questions, executives must confront the challenges that connect digital technologies to business growth.
If being digital were as simple as having a mobile app, then every business could easily be a digital success.
Being a digital business is more than equipping the field sales force with iPads or striving for “Likes” on Facebook or even putting more of the organization’s data in the cloud. Although those kinds of moves can be crucial steps on the road to becoming digital, the challenge is that they may make business leaders feel that their organizations are digital, when they are not.
Such basic initiatives can be part of a project to improve discrete business processes, but they will not, by themselves, propel growth and they will certainly not confer lasting strategic advantage.
It’s easy to conceive of digital technology as just another technology and a force for efficiency and cost reduction. It is not easy to envision what is needed to be a digital business. Customers are at the center of digital business, requiring leaders to adopt an “outside-in” perspective on their business. Adopting this perspective requires adapting current approaches to business strategies to new growth-oriented digital business strategies. These issues are among the key challenges to and context for success in a digital world.