Digital strategy is the application of digital technologies to business models to form new differentiating business capabilities.
In the future, all business strategy will integrate digital strategy.
Digital strategy focuses on using technology to improve business performance, whether that means creating new products or reimagining current processes.
It specifies the direction an organization will take to create new competitive advantages with technology, as well as the tactics it will use to achieve these changes.
This usually includes changes to business models, as digital technologies make it possible for companies willing to be innovative to provide services that weren’t previously possible.
In today’s organization, there are many ideas of what constitutes a digital strategy.
- A marketing executive will see a digital strategy as social media and web channels.
- An IT person would see a digital strategy as cloud.
- A operations executive will see it as data analytics.
- A Research and Dev. executive would see it as online products.
- A commercial person will see it as online revenue channels.
Business must be understood in an holistic approach, which means – and this is not a limited list -:
- Attract and Recruit talents
- For Internal and External
Some interesting links:
- Mc Kinsey explains why Digital Strategies may fail.
- There is always a good information or definition in Wikipedia.
- Understand Digital Strategies with Harvard Business Review.
- Why some Digital Strategies work better than others? Harvard Business Review analyses different strategies.
- On Liferay the definition is very interesting and very accurate.
- Published by HBR, this book Driving Digital Strategy: A Guide to Reimagining Your Business seems to be a sort of reference.
- The Magazine Forbes proposed this very interesting and pragmatic contribution.