Digital Business

Showing 1-20 of 55

Weill-tool-online-1200
Free Article

How is Digitization Affecting Your Business?

  • Blog
  • Read Time: 2 min 

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.”

Halamka-1200

How Digital Transformation Is Making Health Care Safer, Faster and Cheaper

  • Interview
  • Read Time: 17 min 

What does it take to bring world class digital technology to one of the world’s leading medical centers? As chief information officer of Beth Israel Deaconess Medical Center, in Boston, Dr. John Halamka leads exactly that charge. Overseeing digital strategies designed to make patients safer while being completely secure and stable is, he says, like “being asked to change the wings on a 747 while it’s flying. Total security, total reliability and stability, with complete innovation at the same time.”

DL2015-Infographic-1200
Free Article

Infographic: Transforming the Digital Enterprise

  • Blog

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.

Image courtesy of Flickr user Yuichi Sakuraba. https://www.flickr.com/photos/skrb/4376216155
Free Article

Embracing Digital Technologies in Traditional Worlds

  • Blog
  • Read Time: 3 min 

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.

IMH2-1200
Free Article

When Health Care Gets a Healthy Dose of Data

American health care is undergoing a data-driven transformation — and Intermountain Healthcare is leading the way. This MIT Sloan Management Review case study examines the data and analytics culture at Intermountain, a Utah-based company that runs 22 hospitals and 185 clinics. Data-driven decision making has improved patient outcomes in Intermountain's cardiovascular medicine, endocrinology, surgery, obstetrics and care processes — while saving millions of dollars in procurement and in its the supply chain. The case study includes video clips of interviews and a downloadable PDF version.

advertisement

kane-1200

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.

weill-1200

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."

Pirouz-1200

Creating Online Videos That Engage Viewers

The Holy Grail of modern online marketing is video content that “goes viral.” So how does it happen? New research shows that engagement with online video content depends less on what the video shows than how the video shows it. A study of viewer reactions to online videos suggests that the key is to juxtapose content elements in incongruous combinations or to create original or exaggerated content that makes an emotional connection with the viewer — to create emotionally surprising videos.

parise-s1-1200

How Twitter Users Can Generate Better Ideas

New research shows a link between the amount of diversity in employees’ Twitter networks and the quality of their ideas. “A diverse network provides exposure to people from different fields who behave and think differently," write Salvatore Parise (Babson College), Eoin Whelan (National University of Ireland) and Steve Todd (EMC Corporation). They found that the more diverse a person’s social network, the more likely that person is to be innovative. They also found that Twitter users who are both idea scouts and idea connectors are especially valuable in the workplace.

Konsynski-1200

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.

advertisement

westerman-1200

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."

Tarafdar-1200

The Dark Side of Information Technology

All of our wonderful mobile devices don’t always make us good at managing what we do with them. Handling information flows can take a toll on employee well-being, with some employees experiencing “technostress” from the pressure to multitask and to respond to Emails quickly. But there are steps executives can take to counter the negative effects of IT use. These steps encourage employees to step back and examine their personal relationships with IT.

Urban-1200

The Case for ‘Benevolent’ Mobile Apps

Smartphone apps that provide consumers with helpful information — instead of simply pushing product sales — can improve users’ preference for a company. As well, mobile apps that are about useful information, what the authors call “benevelance,” can significantly impact sales at a low cost and thus improve profitability. “A benevolent app can build trust, which in turn can lead people to consider purchasing your product,” write authors Glen L. Urban and Fareena Sultan.

Luo-1000

How Effective Is Location-Targeted Mobile Advertising?

New research shows that mobile advertising targeted to consumers based on their locations can be effective. This is particularly the case with customers who have shown a high level of interest in the type of product being shown to them. Researchers also think that some users might simply need more time to evaluate the trustworthiness of an app or offer — suggesting that marketers might see delayed responses to location targeted mobile ads.

Mocker-1000

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.

advertisement

Hoffstetter-1000

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.

westerman-1000
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.

DBS-Gledhill-1000

DBS Bank Pumps Up the Volume on its Technology

  • Interview
  • Read Time: 15 min 

DBS Bank, Singapore’s largest, is using analytics, social media and mobile technology to boost customer satisfaction and its bottom line. The company is using technology more effectively, filling in with outside vendors where it feels it cannot achieve top performance on its own. The bank is also building on its traditional transaction model to leverage information more effectively — a process it expects will radically remake the way it interacts with its customers.

wells-1000

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.

weill-internal-1000
Free Article

How to Revitalize Your Digital Business Model

  • Blog
  • Read Time: 3 min 

What should a company do if its 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 to revamp the fortunes of a digital business. His framework focuses around three planks: content, experience and platform. Executives should decide which plank offers competitive advantage and develop a world-class version of it online, partnering with others for the other two planks.

Showing 1-20 of 55