Dr. Dierk Buss, Andreas Rueter, Dr. Stefan Ohl, AlixPartners GmbH
Digitalization is transforming industries rapidly and new entrants are already taking over intelligent functions in the value chain. Incumbent companies often face barriers in the implementation. To support the digital transformation trend, it is essential to prepare the organization, to implement a distinct strategy, and to overcome critical barriers. We suggest a sequential approach to assess digital readiness and identify latent potential and then drive value chain optimization as well as new business models in dedicated project streams. An internally driven process to develop new business models has proven most effective to enable sustainable value creation. Internal development offers advantages but requires management attention and the introduction of measures to overcome organizational challenges and innovation barriers that can be grouped in the dimensions (1) disruptiveness, (2) speed and (3) skill availability. During the process, it is indispensable that management acts quickly, is aware of the different approaches to digital value creation, selects the best suitable organizational form and introduces distinctive measures to manage potential innovation barriers.
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