Summary of The Digital Imperative

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Rating

8

Qualities

  • Applicable

Recommendation

Digital start-ups have shaken up entire industries, challenging the dominance of long-standing companies. Survival of traditional companies depends on “agility” and how effectively they adapt to innovations like big-data analytics and crowdsourcing. This article by Ralf Dreischmeier, Karalee Close and Philippe Trichet of the Boston Consulting Group provides insightful information to companies that want to adopt a digital approach to business. Using real-world examples, the authors highlight five organizational areas where companies should boost digitalization. getAbstract recommends this report especially to senior managers.

About the Authors

Ralf Dreischmeier is the global leader of the Boston Consulting Group (BCG) Technology Advantage practice. Karalee Close is the global topic leader for digital, big data and advanced analytics in BCG’s Health Care practice. Philippe Trichet is a BCG expert director, specializing in digital transformation.

 

Summary

Digital start-ups and new business models have shaken up many industries. As consumer needs and competition are changing rapidly, traditional companies must become digital, which requires an organizational environment that supports risk taking and openness to change. Long-term strategies are no longer practical. Companies like Google and Amazon have instead shifted to “agile” methods that allow them to learn, deliver new products in close association with customers and adapt to change at a faster pace.

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