Digital First: A Three-Part Series
Digital transformation involves a radical change in the way firms create and capture value through a digital value loop. Unlike the traditional IT-enabled innovations where the focus was often to improve the operation of an existing value chain using technology, digital transformation sharply seeks to create new business models to gain positive externality through the use of advanced digital tools. At its core, digital transformation involves the design of a value loop through on-going and dynamic engagements with customers-as-users, leveraging digital assets. Digital-first strategy framework, developed by xLab, helps organizations to orchestrate various activities to build and operate a powerful digital value loop with its customers-as-users. It entails changes in people, strategy, and technology dimensions. Over the next three installations, we will review each of the three dimensions of the digital-first strategy framework.
- Read the first installment "Digital-First Strategy: Framework"
- Read the second installment "Digital-First Strategy: People"
- Read the third installment "Digital-First Strategy: Technology"