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Wednesday, August 15, 2018

Six Questions That Can Help Guide Digital Transformation | Management - Knowledge@Wharton

Two MIT researchers offer a practical guide to digital transformation in their new book, ‘What’s Your Digital Business Model?’ 
What's Your Digital Business Model?:
Six Questions to Help You Build the Next-Generation Enterprise

Companies know they must transform to appeal to the digital customer, but they still struggle to find the best path forward, according to a book by MIT researchers Stephanie Woerner and Peter Weill. It’s not enough to tweak management practices that worked in the past, they note. What’s needed is a wholesale rethinking of the enterprise.

For example, a bank must look at itself as helping clients navigate life events, instead of merely being a place for transactions. “That small shift in thinking would mean a profound shift in almost every aspect of the business” and would be the firm’s best bet to fight off digital disruptors, they write. The authors offer a field-tested framework on how companies can digitally transform, based on a years-long study at the MIT Center for Information Systems Research.

Woerner joined the Knowledge@Wharton show on SiriusXM to talk about their book, What’s Your Digital Business Model? Six Questions to Help You Build the Next Generation Enterprise. 

Source: Knowledge@Wharton