Hot Best Seller

Driving Digital Strategy: A Guide to Reimagining Your Business

Availability: Ready to download

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 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.


Compare

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 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.

30 review for Driving Digital Strategy: A Guide to Reimagining Your Business

  1. 4 out of 5

    صفية الشحي

    Amazing book , important for marketers as well as business owners , managers , leaders and students

  2. 4 out of 5

    Trevor

    I went into this book with high hopes, as my company is current making a big shift to digital and I was looking for a toolkit to help smooth this transition. Here's what I found: The first half of the book seemed like a conglomeration of short articles from Forbes, never diving too deep, only providing a few paragraph case study on a topic. On several occasions, the author mentions topics like AI, machine learning, deep learning, and so on, but treats them only as buzz words. The book seems to b I went into this book with high hopes, as my company is current making a big shift to digital and I was looking for a toolkit to help smooth this transition. Here's what I found: The first half of the book seemed like a conglomeration of short articles from Forbes, never diving too deep, only providing a few paragraph case study on a topic. On several occasions, the author mentions topics like AI, machine learning, deep learning, and so on, but treats them only as buzz words. The book seems to be targeted toward those who do not keep up with current trends in business. It does not provide much useful information for successful navigating a digital strategy, only THAT one should make the transition. The exception to this statement is the small sections on acquiring and engaging customers which I thought were very well done. However, I still feel that both sections could have been a long feature in an online magazine which a person could have read for free. Do not expect an excellent HBR article like 'Diamonds in the Data Mine' or the like. If, however, you've been living under a rock, this is the book for you!

  3. 5 out of 5

    Annarella

    A very good and helpful book that help to understand how successful design strategies worked and help you to understand how they could be applied. Highly recommended. Many thanks to Harvard Business Review Press and Netgalley for this ARC

  4. 4 out of 5

    Shubhi

    The structure of the book is superb. It includes relevant examples showing that digital transformation is a change in mindset... a gradual process which cannot be done through offloading a unit to drive innovations. it requires changing the DNA. The change will not be overnight but will have long term results. Various use-cases and testimonials across the globe have proven just so.

  5. 4 out of 5

    Lanre Dahunsi

    Where Companies Go Wrong To mitigate the effects of digital disruption while also exploring new opportunities, companies have typically followed some combination of these three strategies–creating small, independent units or startups within the larger organization; doing a series of digital experiments; and/or leveraging technology to cut costs and improve efficiency. However, in most cases, these initiatives have led to limited success. Independent Digital Units Almost every large company launches Where Companies Go Wrong To mitigate the effects of digital disruption while also exploring new opportunities, companies have typically followed some combination of these three strategies–creating small, independent units or startups within the larger organization; doing a series of digital experiments; and/or leveraging technology to cut costs and improve efficiency. However, in most cases, these initiatives have led to limited success. Independent Digital Units Almost every large company launches independent digital units or has outposts in Silicon Valley, with the hope that a handful of young entrepreneurs will spark innovation for the firm. Creating an independent unit is like launching a speedboat to turn around a large ship. Often the speedboat takes off but does little to move the ship. Experiment Approach Companies tend to run experiments, which makes a lot of sense given the rapidly changing environment and uncertainty about the future. This journey often begins with a few tactical experiments, typically in marketing departments, where employees are quick to try new social media tools or new mobile platforms. As the excitement around digital spreads throughout the organization, new initiatives start emerging all over the company, leading to a proliferation. Leveraging Technology A third approach is to leverage technology to reduce costs and improve the efficiency of operations. For instance, banks close branches as consumers move to online and mobile banking. Retail stores reduce their real estate footprint and close marginal stores. Processes are digitized and streamlined to minimize overlap and increase efficiency. Many of the internal tasks are redesigned to allow customers to self-serve, thereby reducing labor costs. “Companies should always try to improve efficiency and minimize cost. However, if you rely solely on this approach, you are implicitly assuming that technology will not fundamentally change your business. Effectively you are assuming that banks, for instance, will still operate as before and that fintech companies won’t have a major impact on their business. In many cases this may be a flawed assumption.” Digital Strategy In order to be successful, you can’t just create a separate digital unit, or run experiments, or use technology to improve efficiency. Instead, you must make digital strategy an integral part of your overall business strategy. That is, rather than treating digital strategy as a separate exercise, you must embed it into the operations and DNA of your organization, in a way that touches all aspects of your business. Crafting a Strategic View: A Framework for Reinventing Business The framework consists of four key components: Reimagining your business Reevaluating your value chain Reconnecting with customers Rebuilding your organization Reimagine Your Business Given the dramatic changes that digital has caused, you’ll need to sit back and reflect on the core essence of your business, examining three components: scope, business model, and ecosystem. “When considering scope, you’ll need to ask yourself this fundamental question: “What business are we in?” Competition in the digital age usually comes laterally, from new players, and redefining the scope of your business is essential to ensuring future success. This requires a careful balance of broadening the scope of your business while staying within your core competencies. Reevaluate Your Value Chain Digital technology can significantly improve the efficiency and effectiveness of various parts of your value chain, especially as new models of R&D and innovation have emerged. Companies such as GE, P&G, and Siemens have leveraged open innovation to redefine their R&D process. Digital technology has also ushered in a new era of Industry 4.0. Innovations such as digital manufacturing, virtual and augmented reality, 3-D printing, and digital supply chains are improving operational excellence. Reconnect with Your Customers “Digital technology has changed the way consumers search for information and buy products, and technology is enabling firms to collect information about the entire consumer decision journey or path to purchase, which will open up new ways for you to acquire customers. Long before a consumer buys a car, she searches for information on Google, which provides an opportunity for auto manufacturers to understand her preferences and influence her behavior. Sensors in washing machines will soon allow Whirlpool to understand consumers’ usage behavior and even provide valuable consumption data about laundry detergent to P&G. And as consumers increasingly rely on online reviews and friends’ advice, you can monitor social media to understand how those friends and reviewers might be converted into brand advocates. Rebuild Your Organization Managing the digital transition in a large organization is a nontrivial task. As you try to strengthen your core business and build for the future at the same time, you’ll face the challenge of running two organizations in parallel. As a result, revenues and profits often decline during the transition period before they go back up, which can shake the resolve of even the most confident CEO. Amazon competes with Barnes & Noble, Best Buy, and Walmart. As an online platform Amazon competes with eBay. In cloud computing, it battles for market share with IBM, Google, and Microsoft. In streaming services, it has Netflix and Hulu as formidable competitors. Amazon Studios puts the company up against Disney and NBC Universal Studios. Its entry into mobile phones put it in the crosshairs of Apple, HTC, and Samsung. Its ad network made it Google’s rival. Competition Is No Longer Defined by Traditional Industry Boundaries It should be clear from the discussion so far that competition is no longer defined by traditional product or industry boundaries. The rapid development of technology is making data and software integral to almost all businesses, which is blurring industry boundaries faster than ever before. Amazon surprised Google by becoming the dominant competitor in the search market. Apple is hiring automobile engineers at a rate that is scaring the auto industry. Netflix and, more recently, streaming services by HBO and CBS are causing concern for Comcast and other cable players. Platforms A platform offers scale with low capital investment, but it comes with limited control that may lead to poor customer experience. Companies that rely heavily on their platform spend enormous amounts of time and effort managing customer experience. As devices become embedded with sensors, their value is less in the hardware itself and more in the interconnectedness of that hardware. In the connected world, the battle is no longer fought among products. Instead, competitive advantage comes from building a platform that has an ecosystem around it. However, the journey from product to platform is not always easy or quick, and often a company’s business model evolves over time to reach this stage. In order to collaborate and partner with many players, some of whom may even be their competitors. And this requires new skills and capabilities to manage and govern a platform. The 200-20 Rule According to the familiar 80-20 rule, 20 percent of the customers provide 80 percent of the revenue. However, research shows that if we focus on profitability instead of revenues, the rule would be 200-20, where 20 percent of the customers provide almost 200 percent of the profit! In other words, a company’s profits would soar if it were to jettison the bottom 80 percent of its customers. Of course, some of these unprofitable customers may be important for other, strategic reasons, but this analysis forces management to articulate the reasons for retaining these unprofitable customers. Often there is a tendency to get seduced by the latest technology or the new business model of a hot startup. While incumbents should always learn from others, they should stay true to their core DNA and leverage the assets they have. Digital Transition Digital transition involves managing existing business and building for the future at the same time. It is like changing the engine of a plane while in flight. The plane is going to go down first before it goes up again–and that is a scary and uncertain time, when everyone in the organization starts questioning the company’s strategy. Even though existing businesses may be under threat and in need of change, they are usually still profitable in the short run, and it is hard to give up all those profits for an uncertain future. According to an IBM report, we create 2.5 quintillion bytes of data every day. Data Analytics, Machine Learning, and Artificial Intelligence According to an IBM report, we create 2.5 quintillion bytes of data every day. Put differently, 90 percent of the data in the world today has been created in the last two years. This data comes from consumer activities such as web browsing, social media posts, and mobile usage–and increasingly from sensors built into machines. Making sense of this vast amount of data has therefore become the key challenge. Machines will not replace human judgment, but they will be major complementary assets to what we currently do to manage talent. The technology revolution is only going to accelerate in the future, and we better prepare and brace ourselves for it.

  6. 5 out of 5

    Nikhil

    Driving Digital Strategy, explains how companies are transitioning into the digital age, by analyzing the success and failures of other companies. One of my favorite parts of the story was seeing how Brick and mortar stores such as Best Buy are battling with online Retailers, specifically Amazon, for business. The Weather Company, which is now owned by IBM had a hard time gathering revenue when TV viewership started to decline. So their new CEO decide to create a platform, WeatherFX, that would Driving Digital Strategy, explains how companies are transitioning into the digital age, by analyzing the success and failures of other companies. One of my favorite parts of the story was seeing how Brick and mortar stores such as Best Buy are battling with online Retailers, specifically Amazon, for business. The Weather Company, which is now owned by IBM had a hard time gathering revenue when TV viewership started to decline. So their new CEO decide to create a platform, WeatherFX, that would allow business to predict sales with weather data. One interesting Discovery was that, at a certain dew point people rushed to buy bug spray, and apparently that is when mosquitoes' eggs hatch. Now that Retailers possess this data, they are able to maximize efficiency. I would recommend this book to anyone who likes technology and Business, it is a very interesting.

  7. 5 out of 5

    Greg

    I highly recommend this book to those looking to see how many companies around the world transform in this digital age. The book is full of wonderful insights about the problems these companies encounter and the steps they took in response to the demands to stay relevant today. I would simply say that this book is a must read by executives.

  8. 5 out of 5

    Richa

    My expectations from non-fictional books are very low. Especially when they come to Digital Marketing, most books have one theory or framework and they keep repeating it to cover the 200 pages of the publication. This was a very different experience. So while I have studied the concepts laid out in this book during my MBA classes, this book actually structured all those thoughts in a very systematic manner and covered lots of topics in the domain of Digital Marketing and Business Transformation My expectations from non-fictional books are very low. Especially when they come to Digital Marketing, most books have one theory or framework and they keep repeating it to cover the 200 pages of the publication. This was a very different experience. So while I have studied the concepts laid out in this book during my MBA classes, this book actually structured all those thoughts in a very systematic manner and covered lots of topics in the domain of Digital Marketing and Business Transformation Strategies. It provides very relevant examples of successes in the Digital Marketing scenario and deep dives into the reason for their successes. It even learns from the failures of various digital transformation exercises and provides a good context for why they failed. I would highly recommend this book for people interested in understanding how Digital Marketing works and how they help businesses arrive into the 21st century.

  9. 4 out of 5

    Aniket Patil

    I found this book a helpful one. This book explains various things with relevant examples. Convert Razor into Blade,Transition to Product-as-a-Service,A New Business Model should be outcome based,Improved Reliability and Reduced Cost,customer focused innovation etc., Why Does Open Innovation Work? 1.Diverse Approaches 2.Extreme Values 3.Better Customer Insight 4.self selection. many more things to mention here. Overall it was a very good book. This would be helpful for everyone. Those who want to I found this book a helpful one. This book explains various things with relevant examples. Convert Razor into Blade,Transition to Product-as-a-Service,A New Business Model should be outcome based,Improved Reliability and Reduced Cost,customer focused innovation etc., Why Does Open Innovation Work? 1.Diverse Approaches 2.Extreme Values 3.Better Customer Insight 4.self selection. many more things to mention here. Overall it was a very good book. This would be helpful for everyone. Those who want to be future entrepreneurs, those who wants to be successful managers, CEO's, Businessmen etc. Proper diagrams,venn diagrams,bar charts,graphs and logic made it a very good book.

  10. 5 out of 5

    Lephungdanthanh

    Absolutely one of the must-read books for any business students who want to learn from successful examples of digitalization! This book provides comprehensive guidelines, critical pillars and especially, paradigms of corporates which successfully implement digital applications in their R&D, marketing, logistics and even human management. This book is also suitable for young entrepreneurs who desire to envision what types of marketing strategies should be utilized for their newly-established busi Absolutely one of the must-read books for any business students who want to learn from successful examples of digitalization! This book provides comprehensive guidelines, critical pillars and especially, paradigms of corporates which successfully implement digital applications in their R&D, marketing, logistics and even human management. This book is also suitable for young entrepreneurs who desire to envision what types of marketing strategies should be utilized for their newly-established businesses. In brief, i think this book deserves a 9/10 for its tremendous benefits and eye-opening information.

  11. 5 out of 5

    Tam Võ

    give me a view about business in Digital Evolution time. - I really impress about chapter 1, I have to change my mind about business, about: + i shouldn't depend on the core business field. The trend is determine what the customer want and meet it for them. + Nowaday, Data and Customer is 2 valuable assets of the company. + The customer not only need products, but also need the solutions for their problem. .... give me a view about business in Digital Evolution time. - I really impress about chapter 1, I have to change my mind about business, about: + i shouldn't depend on the core business field. The trend is determine what the customer want and meet it for them. + Nowaday, Data and Customer is 2 valuable assets of the company. + The customer not only need products, but also need the solutions for their problem. ....

  12. 4 out of 5

    Juan Hernández

    It's mostly a compilation of case studies and articles about companies that have improved their operations and profitability by integrating digital tools and strategies into their work culture. Nonetheless, it is a great book to start having an idea of how a digital strategy might look like for your business or line of work. It's mostly a compilation of case studies and articles about companies that have improved their operations and profitability by integrating digital tools and strategies into their work culture. Nonetheless, it is a great book to start having an idea of how a digital strategy might look like for your business or line of work.

  13. 4 out of 5

    Diego Cerezo

    Book in a sentence: an ok introduction to the current state of digital transformation in enterprises, filled with lots of real-world big-company examples. Lesson learned: The razor-blade strategy is a business model in which one item (razor) is sold at a low price in order to allow for another item (blade) to be sold more easily, with a much better gross margin.

  14. 4 out of 5

    Astrid

    The book has a very strong introduction with case studies how digitization changes businesses. I hence started reading very enthusiastically. After a few chapters however the author pulls in everything closely or remotely related to digitization, without a clear structure behind it. This resulted in a lack of coherence throughout the entire book without a clear message or take away.

  15. 4 out of 5

    Lucas

    There were very few revelations in this book. The target audience seems to be executives who have not read a business article in ten years. There were some occasionally interesting anecdotes about projects that companies have done, but I spent most of the book checking how many pages were left.

  16. 4 out of 5

    José Iván García Rosales

    Useful framework for understanding digital transformation Longstanding principles of the world of business are becoming untenable due to digital disruption. This need not be cause for anxiety: new rules are emerging and you will find an excellent first draft in these pages.

  17. 4 out of 5

    Néstor Esquivel de la Garza

    Great Overview About Digital Transformation Foundations, one of my favorite reads of the year. Last part of the book could discuss more of Human Capital during the journeys of Digital Transformation.

  18. 5 out of 5

    Chatchai Chatpunyakul

    I think this book is quite good. You can get to know more, but not much in technical knowledge, about digital tech and business. What I really like personally is the author wrote and supported his ideas with several articles.

  19. 5 out of 5

    Xaver

    Some interesting points, but mostly a description of what others did without diving too deeply into why they did it and how they came up with this particular strategy. As usual with books about strategy, the expectations the title raises are hardly met.

  20. 4 out of 5

    Steve Brock

    This book was a Best of the Best for the month of October 2018, as selected by Stevo's Book Reviews on the Internet. http://forums.delphiforums.com/stevo1... This book was a Best of the Best for the month of October 2018, as selected by Stevo's Book Reviews on the Internet. http://forums.delphiforums.com/stevo1...

  21. 5 out of 5

    Nancy

    I won this in a Goodreads giveaway. Full of useful information. Recommend this to any business owner looking for digital strategies.

  22. 5 out of 5

    Michelle Kim

    Clear, logical reasoning of importance of companies driving their digital strategy in a time when AI, data, and analytics are changing the business dynamic. Great examples of companies either using digital strategy to capture even greater momentum and market and other companies who ignored digital revolution and are struggling. Your business NEEDS a well defined strategy. Cannot ignore and be profitable in this day and age.

  23. 5 out of 5

    Luisa

    Nothing revolutionary but lots of interesting examples

  24. 5 out of 5

    Jorge

    Very interesting and insightful. Worth reading.

  25. 4 out of 5

    Elene Botha

    It’s my digital transformation Bible. After listening to his HBR podcast, I rushed to get my hands on this invaluable volume.

  26. 5 out of 5

    Zaved

    Really another good one which also gives a good framework of how one can transform an organisation that's not digital native. Must read. Very informative and authoritative. Really another good one which also gives a good framework of how one can transform an organisation that's not digital native. Must read. Very informative and authoritative.

  27. 5 out of 5

    Rupesh

    thought provoking ..insightful.

  28. 5 out of 5

    John Fletcher

    Didn't finish - a good look at how some companies are using digital strategies to get different results. Not very specific on 'how'. Didn't finish - a good look at how some companies are using digital strategies to get different results. Not very specific on 'how'.

  29. 4 out of 5

    Ankur Gupta

    Great examples from various industries. Book that illustrates strategies used by eCommerce Nice Read!

  30. 4 out of 5

    Lewis MacDoanald

    Clear, concise, logical ...often the simple and logical is there to be found. An elegantly structured book with some wisdom and sage comments. Recommended

Add a review

Your email address will not be published. Required fields are marked *

Loading...