How to Find the Right Strategy for Your Enterprise
The IT world frequently enters into intense discussions about new technologies and methods. Generally, such discussions do not extend beyond the community and specialist media. Digitization, however, is the exception. The term itself, along with associated buzzwords such as the Internet of Things (IoT), Big Data, and Smart Factory have achieved a remarkable presence in public discourse. At their core, all of these terms are – to a certain extent – about the change process triggered by digital technologies and its far-reaching effects on society, as well as the business world. With the help of digital technologies, business models, processes, and products can be refined or even completely reinvented.
The Opportunities of Disruption
In addition to the new opportunities, the risks of digitization are often highlighted in public discussion, as new technologies put increased pressure on established business models and industries. This phenomenon is also known as digital disruption. One example of this is blockchain technology, which enables business partners to create and conclude contracts quickly, securely, and digitally. As new funding platforms and financiers enter the market, they could present huge challenges for the banking sector. However, if you look at the past, you will see that this paradigm shift is neither new nor unique. For example, today we glorify the Industrial Revolution as “the good old days”. But people back then may have felt quite differently about the radical changes.
Platforms: A Model for Success
A more recent example is the rise of the internet. It has dramatically changed many business models, particularly in the media, publishing, and travel industries. Travel agencies used to be the first port of call for customers. Today, websites offer unprecedented transparency into all offers and prices – and the possibility to book around the clock. Platforms are also becoming more important in other industries. One thing that they all have in common is that a direct connection to the customer is crucial. Organizations no longer require their own branches or warehouses – in fact, these could even hinder success due to the large capital they require.
Download Expert Paper
Want to read more? This was just an introduction on the expert paper of Klaus-Christoph Müller, Director of Global Business Solutions at itelligence in Berlin. You can download the complete expert paper here.