At the start of the pandemic, businesses around the globe found themselves exposed to an unexpected boost in digitalization. Those who promised to keep the wheels turning were given carte blanche to do whatever it took to keep a company running. But as many now return to the office, they also realize that the digitalization lodestar is beginning to fade. Where investment priorities were clear early in the pandemic, companies now face the same uncertainties regarding digitalization as they faced before it.
How to Map Out Your Digital Transformation
Start by focusing on your business model — not your technology.
April 27, 2022
PASIEKA/Getty Images
Summary.
If digital transformation is supposed to be meaningful and lasting, companies must think about changes in products and processes more than changes in technology. But many companies struggle to look past the shiny promises that usually accompany new technologies. As a result, they dedicate too many resources and too much attention to the technology side of digital transformation projects. One approach to counter this imbalance is to think of digitalization as business model innovation rather than technology-related change. The author shows how one simple, well-known tool — the business model canvas — can facilitate the necessary shift in perspective.