Digital Double-Down: How Far Will Leaders Leap Ahead? 2. Introduction
Every business is becoming a digital business and change is coming fast. Each business is on its own journey: becoming digital in its own way and following its own unique strategy.
A sharp divide is emerging between companies which view digital technology as a tool for steadily improving existing business activities – Digital Followers – and those who clearly see something much more profound – the Digital Transformers.
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Which
path will your business take? 3. 3
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Catalysts of Transformation
Put simply, Digital Transformers are responding to customer redefinition of markets.
Digital technology has allowed for the reshaping of traditional markets, with new entrants and new collaboration opportunities with partners.
So by investing in digital growth strategies, forward-facing organizations can respond to these market changes, creating disruptive new business models that require their competitors to respond.
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Executives must embed digital firmly within their organization’s strategy if they are to prosper.
Ultimately, every company’s strategy will need to incorporate some form of digital transformation, even if transformation is not its explicit strategic goal.
Digital Transformers are doing this by focusing on growth investments, digital technology and executive leadership as part of their expectations for change.
Digital as the Linchpin of Strategy
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Digital change is coming fast. It will come from the outside in – in the form of customers choices, new products, services and experiences. It will affect every company and every industry.
Executives responsible for digital strategy should be asking the right questions to see how closely their organization’s views are aligned with those of the digital transformers.
Our Digital Transformation Questionnaire will help you to test you’re digital savvy. But further steps are necessary to achieve full Digital Transformation.
To launch your organization on the journey.
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Digital Transformation Questionnaire – Competition
How do others view digital transformation?
What threats does digital pose to our business? How could competitors use it against us?
How could digital capabilities pull us ahead of our competitors?
Which new competitors are using digital to go after our customers?
Which of them are succeeding at this? How are they doing it? 7. 7
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Digital Transformation Questionnaire – Organization
What are the new business models, new trends and new digital technologies that we most need to watch out for—and exploit?
What new commercial arrangements could accelerate our digital investments?
How do we organize for success, allocate resources, and assign responsibilities?
With whom should we now partner in a digital world? 8. 8
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Digital Transformation Questionnaire – Customers
Do we explicitly focus our digital strategy on new growth opportunities or is digital just another marketing or efficiency program?
How do we identify new markets and value migration in our industry? 9. 9
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Digital Transformation Questionnaire – Leadership
Which of our senior leaders should be responsible for our digital efforts? To what extent must it be a shared responsibility?
How do we communicate our digital intent to the board of directors, customers, suppliers, employees and other partners?
How should we organize, measure, recruit, and reward in a digital world? 10. 10
Connect with us to find out how to ensure a growth-focus for your organization’s digital transformation.
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Email: digitalstrategy@accenture.com
Visit: www.accenture.com/digitalstrategy