Driving Digital

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.

Every organization makes plans for updating products, technologies, and business processes. But that’s not enough anymore for the twenty-first-century company. The race is now on for everyone to become a digital enterprise. For those individuals who have been charged with leading their company’s technology-driven change, the pressure is intense while the correct path forward unclear. Help has arrived! In Driving Digital, author Isaac Sacolick shares the lessons he’s learned over the years as he has successfully spearheaded multiple transformations and helped shape digital-business best practices. Readers no longer have to blindly trek through the mine field of their company’s digital transformation. In this thoroughly researched one-stop manual, learn how to: • Formulate a digital strategy • Transform business and IT practices • Align development and operations • Drive culture change • Bolster digital talent • Capture and track ROI • Develop innovative digital practices • Pilot emerging technologies • And more! Your company cannot avoid the digital disruption heading its way. The choice is yours: Will this mean the beginning of the end for your business, or will your digital practices be what catapults you into next-level success?

This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. In one country, the prime minister pushes for the liberalization of digital finance as a central pillar of the country's national strategy, while the central bank almost makes it a criminal offence. In another, the digital minister tries to scupper the very process to support digital transformation that the president has asked them to co-lead. This book gives a ringside seat on seven developing countries' tumultuous early steps on the path to a reform of the economy and the government using technology. Written by a group of academics and practitioners from Oxford at the heart of the process, but foregrounding the voices of the policymakers and participants, this book documents and critically assesses efforts to assist a set of governments to kick-start digital transformation. In doing so, it offers lessons for policymakers in other countries who want to pursue similar efforts. Beyond that, however, it is also an exposition of the process of policymaking more generally in the 2020s, and offers broader insight into how outsiders can play a sensible role in other reform processes in developing and emerging countries.

Leading tech companies such as Netflix, Amazon and Uber use data science and machine learning at scale in their core business processes, whereas most traditional companies struggle to expand their machine learning projects beyond a small pilot scope. This book enables organizations to truly embrace the benefits of digital transformation by anchoring data and AI products at the core of their business. It provides executives with the essential tools and concepts to establish a data and AI portfolio strategy as well as the organizational setup and agile processes that are required to deliver machine learning products at scale. Key consideration is given to advancing the data architecture and governance, balancing stakeholder needs and breaking organizational silos through new ways of working. Each chapter includes templates, common pitfalls and global case studies covering industries such as insurance, fashion, consumer goods, finance, manufacturing and automotive. Covering a holistic perspective on strategy, technology, product and company culture, Driving Digital Transformation through Data and AI guides the organizational transformation required to get ahead in the age of AI.

Traditional banks are facing unprecedented disruption from challenger banks today. So why aren’t more of them launching challenger banks of their own? Well, two high-profile examples – JP Morgan’s Finn and RBS’s Bo – were launched with much fanfare, but both shuttered after less than a year. In light of this, the success of TMRW digital bank by UOB, launched in Thailand in 2019 and Indonesia in 2020, is astonishing. Dr Dennis Khoo, who created TMRW, shares with us the thinking behind the design of this revolutionary undertaking. At every step of the way, he and his team went against established paradigms and bucked conventional wisdom to build ASEAN’s first digital bank. Filled with visionary analysis and on-the-ground guidance, Driving Digital Transformation demonstrates how this success can be replicated across all industries. For any leader or organisation starting on a major digital initiative, this book is a must-read. “What makes this playbook particularly valuable is that it is written by Dennis Khoo, one of the sharpest minds in the industry.” – Mary Huen, CEO, Standard Chartered Hong Kong

Please note: This is a companion version & not the original book. Sample Book Insights: #1 The 1960 paper by Theodore Levitt, a Harvard Business School professor, argued that companies were too focused on products and not enough on customer needs. He asked, What business are you really in. More than five decades later, this fundamental question has become even more important as companies are moving from products to platforms and industry boundaries are becoming blurred. #2 The introduction of iTunes, in 2001, dramatically changed consumers' behavior as they started downloading digital music instead of buying CDs in a store. Amazon launched its video-on-demand service, Amazon Instant Video, almost a year before Netflix introduced video streaming. #3 In 2011, Amazon launched Amazon Studios to produce original motion-picture content. The content helps convert viewers into shoppers, and Prime members spend twice as much money than non-members do. #4 While many experts questioned Bezos's decision to enter the cloud-computing market with the launch of Amazon Web Services, his decision was undeniable: since its inception, Amazon has grown at a staggering pace, with almost a 60,000 percent increase in its stock price.

This innovative edited collection explores digital business models (DBMs) in theory and practice to contribute to knowledge of how companies, organizations and networks can design, implement and apply DBMs. It views DBMs in a range of contexts and forms, which can be integrated in a number of ways, and aims to inspire and enable academics, students and practitioners to seize the opportunities posed by digital business models, technologies and platforms. One of the first and comprehensive contributions to the field of DBMs and digital business model innovations (DBMI), the authors discuss the opportunities, challenges, technologies, implementation and value creation, customer and data protection processes of DBMs in different contexts.

For a business to thrive competitively in today's marketplace, it needs to have an effective e-commerce channel. Getting it right opens up new markets and opportunities; getting it wrong leads to declining revenues and profitability. To ensure effectiveness, business leaders and decision-makers must understand how e-commerce channels work to make the best strategic choices for their business. Drawing on experience in consulting to large complex organisations and ground-breaking primary research with senior executives from leading corporations, Leading Digital Strategy creates a convincing case for action and offers practical strategies, methodologies and models to improve the effectiveness of a company's online offering. It explores how to align organisational structure with wider goals and implement a customer-centric culture. With coverage of the key digital trends, tools and technologies affecting business today, it provides a practical framework for multi-channel success. This book challenges leaders to become as fluent and creative in digital as they are in finance, sales and marketing, and equips them to choose the right strategy and the right people to make it happen. With strategies for improved operational performance and enhanced engagement from senior management, Leading Digital Strategy gives readers the power to drive forward effective digital initiatives and realise rewarding opportunities for change.