Digital Business

Showing 1-20 of 176

Surviving in an Increasingly Digital Ecosystem

  • Research Highlight
  • Read Time: 5 min 

Companies today will have to reinvent themselves to survive, and every large and ambitious company should be trying to figure out how to become a destination for its customers. Consumers are voting with their mobile devices and choosing from a handful of dominant “ecosystem drivers”— businesses such as Amazon and WeChat, which become destinations for their customers’ needs by offering complementary or sometimes competing services — for each domain in their lives.

Are You Taking the Wrong Approach to Digital Transformation?

  • Blog
  • Read Time: 5 min 

Our research suggests that the approach many companies take toward digital transformation may be misguided. Early and developing companies push digital transformation through managerial directive or by technology provision. In contrast, maturing companies use an approach that cultivates conditions in which transformation can occur.

Don’t Get Caught in the Middle

There was once a time when middlemen were indispensable. Intermediaries facilitated transactions between makers and buyers; they closed the gaps between disconnected entities that required one another for survival; and, within organizations, they interpreted high-level corporate strategy and connected it to front-line execution. But one by one, such intermediaries are being made obsolete by technology.

Your Company Doesn’t Need a Digital Strategy

  • Column

  • Column
  • Read Time: 6 min 

As sexy as it is to speculate about new technologies such as AI, robots, and the internet of things, the focus on technology can steer the conversation in a dangerous direction. Because when it comes to digital transformation, digital is not the answer. Transformation is. In various industries, including banking, paint, and shipbuilding, digital leaders are finding that technology’s value comes from doing business differently because technology makes it possible.

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Improving Your Digital Intelligence

  • Frontiers

  • Research Highlight
  • Read Time: 9 min 

A study of 250 global companies found that a company’s digital intelligence is informed by four dimensions: strategy, culture, organization, and capabilities. Within these dimensions, the research identified 18 management practices that contribute the most to digital leaders’ financial and market success — and offer a road map for companies seeking to expand their digital know-how.

Could the Big Technology Companies of Today Be the Financial Advisers of Tomorrow?

  • Frontiers

  • Opinion & Analysis
  • Read Time: 10 min 

Although traditional financial services companies now offer mass-market financial advice via “robo-advisers,” average U.S. customers seeking investment advice are still underserved — and platform-based digital powerhouses like Amazon are taking notice.

Three Characteristics of a Winning Digital Strategy

  • Blog
  • Read Time: 5 min 

Despite the many differences between the nature of digital strategy at digitally maturing companies, our research demonstrates that these strategies still share a number of common characteristics. Understanding these shared characteristics can help ensure that your company’s digital strategy is on the right track.

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Don’t Confuse Digital With Digitization

  • Column

  • Column
  • Read Time: 6 min 

“Becoming digital” is a totally different exercise from digitizing. Digitization involves standardizing business processes and is an important enabler of digital, but digitization on its own won’t make a business a digital company. Instead, a digital transformation involves rethinking a company’s value proposition. To become digital and pursue a digital vision, companies must embrace information-enriched customer solutions delivered as a seamless, personalized customer experience.

The Case Against Agility

  • Column

  • Column
  • Read Time: 6 min 

Leaders today must wean their companies away from three pieces of conventional wisdom about digital strategy: agility, first-mover advantage, and minimum viable product. These ideas have anchored technological decision-making for over a decade but are highly unsuitable for the emerging world. In conditions of environmental uncertainty and interconnected technology, we need more thoughtfulness rather than more speed.

Digital Disruption Is a People Problem

  • Blog
  • Read Time: 5 min 

The key problem facing organizations with respect to digital disruption is the different rates at which people, organizations, and policy respond to technological advances. The gaps between innovations and their adoption — and organizations’ ability to adapt — pose a challenge for companies.

Reshaping Business With Artificial Intelligence

Disruption from artificial intelligence (AI) is here, but many company leaders aren’t sure what to expect from AI or how it fits into their business model. Yet with change coming at breakneck speed, the time to identify your company’s AI strategy is now. MIT Sloan Management Review has partnered with The Boston Consulting Group to provide baseline information on the strategies used by companies leading in AI, the prospects for its growth, and the steps executives need to take to develop a strategy for their business.

Why Your Company Needs More Collaboration

What distinguishes companies that have built advanced digital capabilities? The ability to collaborate. Research finds that a focus on collaboration — both with and without technology, both within organizations and with external partners and stakeholders — is central to how digitally advanced companies create business value and establish competitive advantage over less advanced rivals.

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The Power of Product Recommendation Networks

Much as relationships in social networks have been analyzed to understand and influence how ideas flow among people, researchers wondered whether it might be possible to use the structure of product recommendation networks online to understand or influence how demand flows among products. The short answer is yes, and the implications for marketers are important.

Cultivating a Culture of Cross-Functional Teaming and Learning at CarMax

  • Interview
  • Read Time: 6 min 

The days when buying a used car meant “kicking the tires” and wading through a hard sales pitch are gone. With customer expectations evolving in a rapidly changing digital environment, digital dealership CarMax’s product development teams are “all about developing customer-facing and associate-enabling technologies,” says CIO Shamim Mohammad — but the focus is on the teamwork, not the tech.

Four Habits of Highly Effective Virtual Teams

  • Blog
  • Read Time: 3 min 

Employers thinking about allowing employees to work remotely are often conflicted. On the one hand, employees are hungry for this valuable work/life option. On the other, a number of prominent companies that once embraced the virtual work option have pulled back, citing the desire for more immediacy and opportunities for serendipity. But for managers who are looking to get the most out of a remote policy, there are best practices to help their organizations succeed.

‘Digital Transformation’ Is a Misnomer

  • Blog
  • Read Time: 5 min 

We’re nowhere near the end of the disruption digital technologies will have on business. Claiming that “we’re not a digital company” is no longer an option; failing to pay attention and develop a working knowledge of the present state of digital technologies all but guarantees obsolescence.

Showing 1-20 of 176