What is a Digital Transformation Strategy ? – and its relation with Technology and Business Strategies
A Digital Tranformation Strategy is a form of strategic transformational management and a business transformation answer or response to our digital world, which must be addressed as part of an overall business strategy. Digital Tranformation Strategy, Technology Strategy and Business Strategy must work together.
A Digital Tranformation Strategy is characterized by the application of new technologies to existing business activity with a focus on the enablement of new digital capabilities and markets to the business. As is the case with its business strategy parent, a digital transformation strategy can be formulated and implemented through a variety of different approaches. A Digital Transformation Strategy Formulation should include the process of specifying an organization’s vision, goals, opportunities and related activities in order to maximize the business benefits of digital initiatives to an organization. These can range from an enterprise focus, which considers the broader opportunities and risks digital can create and often includes customer-experience intelligence, collaboration, new product/market exploration and innovation strategy, sales and service optimization, enterprise technology architectures and processes, innovation and governance; to more digital marketing and customer-focused efforts such as design thinking, web sites, mobile, eCommerce, social sites, search engine optimization (SEO), and advertising.
The objective of designing a Technology Strategy is to make sure that the Business and Digital Tranformation Strategies can be realized through technology and technology investments are aligned to business. IT transformation is a keystone for implementing the business strategy. Some of principal digital transformation technologies are (but not only) BPA, Big Data & Analytics & AI, Cloud, Open Platform, Devops, Mobility, IoT, Robots & Autonomous Machines, Blockchain, Cybersecurity, Additive Manufacturing, Augmented Reality, Drones, Nanotechnology/2D Materials and Biotechnology/Genetics & Agricultural Innovation.
What do you mean by digital strategy?, what is digital strategy? – in short
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