Digital Business

Showing 1-20 of 40

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Revisiting Complexity in the Digital Age

As businesses grow and diversify, they almost inevitably make their range of offerings more complex. Until now, managing that complexity usually involved a trade-off between creating value from complexity and benefiting from the efficiencies of simplicity. But smart use of today’s digital technologies can help companies finesse those trade-offs between costs and benefits. Digitization can help companies, for instance, increase product variety and integration while maintaining process simplicity.

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Inside Renault’s Digital Factory

  • Interview
  • Read Time: 12 min 

Engaging with the digital technology in consumers’ lives creates unique challenges for traditional companies. Renault hired Patrick Hoffstetter, an executive with extensive Web experience, to shape its Digital Factory concept — a new way of marketing its cars. Hoffstetter says Renault must shift its mindset about the auto business and uses pilot programs in test markets to help the company respond more quickly to consumer interest in things like content for their cars or shopping online.

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Free Article

The Nine Elements of Digital Transformation

  • Opinion & Analysis
  • Read Time: 10 min 

Companies use emerging technologies to achieve powerful enhancements to their operations. Research finds nine change areas: understanding customer wants and needs, increasing top-line revenues, opening new touch points for customers, automation of operations, knowledge sharing, performance management, digitizing parts of the business, creating new business models and globalization. The key is for executives to have vision, focus and follow-through.

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DBS Bank Pumps Up the Volume on its Technology

  • Interview
  • Read Time: 15 min 

DBS Bank, Singapore’s largest bank, is using analytics, social media and mobile technology to boost customer satisfaction, customer service and its bottom line. The company has made a fundamental cultural shift that lets it use technology more effectively, aiming for world-class performance, and filling in with top outside vendors where it feels it cannot achieve top performance. The bank is also building on its traditional transaction model to leverage information more effectively, a process it expects will radically remake the way the bank interacts with its customers.

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Video: New Opportunities in the Transformed Music Industry

  • Interview
  • Read Time: 1 min 

It’s been a difficult decade for any company that’s been in the recorded music business. But at Universal Music, the company is using external partnerships, technology, new platforms and “democratized data” to surmount challenges in one of the first industries to go digital. Universal’s Rob Wells explains how he and his colleagues have dealt with massive change and how they take advantage of new opportunities to put the company at the forefront of the industry landscape.

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Free Article

How to Revitalize Your Digital Business Model

  • Blog
  • Read Time: 3 min 

Companies can find their digital business model isn’t working very well. Peter Weill, chairman of the MIT Sloan School of Management’s Center for Information Systems Research, has created some principles companies can follow to revamp the fortunes of their digital business. His framework for digital business focuses companies around three planks: content, experience and platform. Executives should decide which one offers competitive advantage and develop a world-class version of it online, partnering with others for the other two planks. Weill also has advice on the best way to find out what customers want from a digital business.

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Free Article

CDOs Are Reaching New Heights — and Quickly

  • Blog
  • Read Time: 3 min 

The chief digital officer (CDO) is a new title in the C-suite, and it’s gaining traction. According to David Mathison, the head of the CDO Club, the number of executives with that title has risen from 75 in 2011 to nearly 500 in 2013. Though the CDO title is most prevalent in industries related to content, where digital disruption is ongoing, CDO posts are appearing in all sectors of the economy. And CDOs are becoming hot candidates for CEO jobs. Despite their small numbers, at least seven people have leapt from the CDO chair to a CEO or president’s title.

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Free Article

The Nine Obstacles to Digital Transformation

  • Blog
  • Read Time: 3 min 

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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Embracing Digital Technology

A study by MIT Sloan Management Review and Capgemini Consulting finds that companies now face a digital imperative: adopt new technologies effectively or face competitive obsolescence. While there is consensus on the importance of adopting digital technology, most employees find the process complex and slow. Many say their leaders lack urgency and fail to share a vision for how technology can change the business. Companies that succeed tend to have leaders who share their vision and define a road map, create cross-organizational authority for adoption and reward employees for working towards it.

Image courtesy of Nestle.
Free Article

When Big Businesses Push the Start(up) Button

  • Blog
  • Read Time: 2 min 

Companies inevitably lose their startup mojo as they get big. But even the biggest companies can get it back, as evidenced by Nestlé. It brought in Pete Blackshaw to serve as a stimulant for its digital and social media. He’s helped the company build a little bit of Silicon Valley startup into its operations, forming a Digital Acceleration Team that spreads “digital vitamins” throughout Nestlé. The company is speeding up its digital marketing, too.

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How Digital Acceleration Teams Are Influencing Nestlé’s 2,000 Brands

  • Interview
  • Read Time: 14 min 

Nestlé is taking digital vitamins, using a leadership and social media training program called the Digital Acceleration Team to spread knowledge of how to operate brands across different mediums. Pete Blackshaw, global digital marketing chief at Nestlé, talks about the benefits of spreading digital vitamins, discusses adaptive marketing. and acknowledges the ongoing “torture tests” social media presents for companies.

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Video: What Digital Transformation Means for Business

  • Interview
  • Read Time: 1 min 

New technologies are changing the nature of business in powerful and unpredictable ways. Executives need to know which technologies to adopt and how to leverage them. Kim Stevenson, Intel’s chief information officer, and Mark Norman, the president of Zipcar, discuss how they manage for technological change with Andrew McAfee, a principal research scientist at MIT’s Center for Digital Business and Didier Bonnet, senior vice president and global practice leader at Capgemini Consulting.

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Eight Steps to Digital Transformation

  • Blog
  • Read Time: 2 min 

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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Video: Digital Transformation Comes to Education

  • Interview
  • Read Time: 1 min 

Linda Zecher, CEO of Houghton Mifflin Harcourt, is leading the U.S.’s largest K-12 publisher into a more digital era where curricula will increasingly adapt to individual student needs. Along with HMH chief content officer Mary Cullinane, Zecher is guiding HMH through changes that will include new skill sets as well as extensive infrastructure and content management changes.

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With 3-D Printing, the Shoe Really Fits

  • Blog
  • Read Time: 3 min 

Few new technologies receive more intense interest than 3-D printing, with some predicting that it will revolutionize manufacturing. That promise remains emergent. But it is taking shape in some industries, such as shoes. The shoe company New Balance thinks that within five years it will custom-make shoes with 3-D printers. And there are already entrepreneurial fashion designers trying to leverage 3-D printing to build up their presence in the market.

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Video: The Digital Transformation of Health Care

  • Interview
  • Read Time: 1 min 

One of the largest health insurers in the United States, WellPoint, is using technology to change its business model. Lori Beer, WellPoint’s executive vice president of specialty businesses and information technology, talks about how technology is helping doctors and nurses be more efficient and effective and lowering costs. Beer explains how WellPoint, which is the first commercial adopter of IBM’s Watson technology, is using analytics to help health-care providers work more efficiently.

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How Starbucks Has Gone Digital

  • Interview
  • Read Time: 15 min 

Starbucks chief digital officer Adam Brotman and chief information officer Curt Garner explain how they collaborate closely. The two constantly seek to improve customer experience through technology and to unify marketing efforts across channels. Their partnership has forged a fast-paced rollout of new digital efforts, from faster payment processing to mobile ordering, across Starbucks’ 17,000 stores.

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The Advantages of Digital Maturity

  • Research Highlight
  • Read Time: 5 min 

New research suggests that companies with well-managed investments in digital technology and transformation management can achieve up to 26% more profits than their industry average. A digital maturity model developed by MIT’s Center for Digital Business and Capgemini Consulting combines two elements: digital intensity (the level of technology investment directed towards changing how a company operates) and transformation management intensity.

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Video: Leading Your Company’s Digital Transformation

  • Interview

Business leaders hear plenty about how digital technology can transform a business, but so much of the discussion focuses on technology-based companies like Amazon, Apple, Facebook and Google that executives at traditional companies might be forgiven for thinking that only high-tech startups can achieve digital transformation. In this video, George Westerman of the MIT Center for Digital Business explains how business executives can drive digital transformation within established companies.

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Free Article

How to Digitally Transform Your Company

  • Blog
  • Read Time: 3 min 

Companies such as Apple, Amazon and Facebook aren’t the only ones who can use high technology to get bottom-line results. For instance, PagesJaunes, the French Yellow Pages, has completely changed its business model with a strategy of building 100,000 websites for small businesses.

Showing 1-20 of 40