Digital Transformation

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How is Digitization Affecting Your Business?

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How much of a threat does digital disruption present to your business? A short online questionnaire from Peter Weill and Stephanie L. Woerner, both of MIT Sloan's Center for Information Systems Research, helps assess digital risk. “Although sweeping technology-enabled change often takes longer than we expect, history shows that the impact of such change can be greater than we ever imagined,” they write. “Think steam engines, cars, airplanes, TVs, telephones and, most recently, mobile phones and e-books.”

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Infographic: Transforming the Digital Enterprise

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A key finding from the 2015 digital business research report by MIT Sloan Management Review and Deloitte indicates that strategy, not technology, drives digital transformation. An infographic illustrates some of the primary features of a digitally transformed business, as highlighted in the report. The infographic also illustrates the importance of digital maturity to employees across all age groups and industries and the keys to making digital transformation happen.

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Strategy, not Technology, Drives Digital Transformation

Executives who think they're in a technology arms race are focusing on the wrong area: The 2015 Digital Business Global Executive Study and Research Project by MIT Sloan Management Review and Deloitte identifies strategy, not technology, as the key driver of success in the digital arena. Conservative companies that avoid risk-taking are unlikely to thrive — and they'll also lose talent, as employees across all age groups want to work for businesses committed to digital progress. The report is available online and as a PDF, and the online version includes a Digital Business Interactive Tool with interactive charts to explore the data set.

Image courtesy of Flickr user Yuichi Sakuraba. https://www.flickr.com/photos/skrb/4376216155
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Embracing Digital Technologies in Traditional Worlds

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Business that are succeeding in the digital world are questioning key managerial assumptions. Case in point: PagesJaunes, the French Yellow Pages company. It “realized a few years ago that selling ads in thick, yellow print directories would not remain viable for long in an age of Google and Yelp.” To embrace digital opportunities, the company questioned assumptions about what is valuable about it strategic assets. It shifted its business model to online advertising and helping its small business customers build their own digital capabilities.

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Is Your Business Ready for a Digital Future?

Successfully incorporating today’s digital technologies requires companies to operate in new ways. However, research by MIT SMR shows that being able to effectively incorporate digital strategy is strongly associated with a company's overall digital maturity. There's also an important HR component to digital strategy: Respondents expressed a strong preference for working for a digitally mature company, but many were dissatisfied with how their own companies were reacting to digital trends overall.

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Thriving in an Increasingly Digital Ecosystem

Research from MIT Sloan School of Management’s Center for Information Systems Research says that to prepare for a future of digital disruption, companies need to consider which of four business models to adapt. "Given the amount of turmoil digital disruption is causing, it’s time for companies to evaluate these threats and opportunities and start creating new business options for the future — the more connected future of digital ecosystems," write Peter Weill and Stephanie L. Woerner, both of CISR. Companies also need to develop new capabilities in two areas: learning more about their customers and becoming "more of an ecosystem."

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From the Editor: Reflections on Change and Continuity

The Summer 2015 issue of MIT Sloan Management Review highlights digital business and the technology-driven changes it brings. “Thriving in an Increasingly Digital Ecosystem” and “Is Your Business Ready for a Digital Future?” directly address the topic of business changes driven by digital technologies. “How Twitter Users Can Generate Better Ideas” reports on fascinating research about how a digital platform — in this case, the social media network Twitter — is changing the way some businesspeople develop new ideas.

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The New World of Work

Advanced digital technologies are swiftly changing the kinds of skills that jobs require. Researchers Frank MacCrory, George Westerman and Erik Brynjolfsson from the MIT Sloan School of Management and Yousef Alhammadi of the Masdar Institute studied the changes in skill requirements over the 2006-2014 time period. While demand has clearly grown for computer skills, it has grown for interpersonal skills, too. The authors advise people in all lines of work to be flexible about acquiring new talents.

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Are You Ready For the Certainty of the Unknown?

The skill set for both companies and individuals of the future will be to embrace impermanence and continual reconfiguring, according to Benn Konsynski, a professor of information systems at Emory University. He says both organizations and employees need to prepare for the “the remix era” and “the certainty of unknown.” He sees “improvisation” as a personal and enterprise necessity in the 21st century.

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Revamping Your Business Through Digital Transformation

Large companies in traditional industries might think that digital transformation can wait — that a follower strategy is a safer route than trying to be a pioneer. "That kind of thinking, while tempting, is wrong," write George Westerman and Didier Bonnet. "In every industry we studied, companies are doing exciting things with digital technology and getting impressive business benefits."

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Is Your Organization Ready for the Impending Flood of Data?

Hal Varian, chief economist at Google and emeritus professor at UC Berkeley, has been with Google for more than a decade and has unique insight into the past and future of data analytics. In a conversation with MIT Sloan Management Review guest editor Sam Ransbotham, Varian says that companies need to beef up their systems to function within an overwhelming data flow — including new voice-command system data and other computer-mediated transactions.

Image courtesy of Flickr user deadmanjones.
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Social Business Is Dead . . .

In recent years, social business has exploded onto the landscape as the centerpiece of the digital economy. But is it, after all, just a passing fad? No… and yes, says blogger Jerry Kane. While social business is here to stay, it is undergoing transformative changes that will make it something very different from what we see today — and business professionals, particularly those in the vanguard of current social business activity, need to be on their toes to be ready for what’s next.

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Thriving in a Big Data World

Words have become data; the physical states of our machinery have become data; our physical locations have become data; and even our interactions with each other have become data. Three recent books offer expert perspectives on the increasing power and importance of analytics.

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The Nine Obstacles to Digital Transformation

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To get real transformation from technology requires company leaders to set digital priorities and work together across departments to reach those goals. A new survey identifies nine significant leadership, organizational and cultural challenges that work against digital transformation. But leaders who present a strategic vision and continue to articulate it will get buy-in from employees, a large majority of whom see technology as a way to gain real competitive advantages. Digital transformation is a challenge — but a manageable one.

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Five Steps to Digitally Transforming City Government

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Boston Mayor Tom Menino is almost radically tech averse, yet he’s led a revamp of a customer relationship management system that has transformed the way the city, its workers, and its citizens interact. Starting with its Citizens Connect app (initially for better pothole reporting), Boston has expanded its data interface to allow faster turnaround times for repair, and has even held a competition across departments to reward the quickest response to citizen requests.

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Eight Steps to Digital Transformation

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Companies want digital transformation, but achieving it is hard. Executives from two transformative businesses, Kim Stevenson, Intel’s CIO, and Mark Norman, the president of Zipcar, discuss how they do it, with Andy McAfee of MIT’s Center for Digital Business and Didier Bonnet of Capgemini Consulting’s digital transformation practice.

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Ray Wang Surveys the Evolution of Social Business

Ray Wang has been a highly respected analyst of social business in enterprises for years. Here he discusses how social business evolves in more socially developed businesses, which uses are growing, and how social business is changing the future of work. He lays out the specific signposts that a business can look for as becomes a more fully socially enabled enterprise.

Image courtesy of Flickr user K.Costin Photography.

The Manager’s Guide to IT Innovation Waves

The relentless advance of information technology today means that a key task of the business manager now is to cope with one wave of IT innovations after another. At any given time, an executive is likely to feel more or less inundated by a current wave, unsure of what all the commotion is about, unable to avoid the topic in conversation and yet suspicious that the latest “killer app” may be mostly hype. Is there a better way?

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