5 Key Points in an Effective Digital Strategy

Think of digital disruption as a gift rather than a problem: Embrace digitization with enthusiasm instead of approaching it slowly and half-heartedly.
Customer obsession :Make customer obsession and growing customer value the most important guiding principle behind the development of your digital strategy. Do not pursue digitization for the sake of it, but focus on delivering value to customers. Redesign your products and services by working backwards from consumer behavior.
Digital innovation
- Digitize existing products and services: Look for opportunities to expand the digital content of your products and services, to build new, purely digital products and services and to digitize every activity in your organization’s value chain
- Platforms and Ecosystems: Embrace the era of increasingly larger and more open ecosystems and platforms. Within these platforms and ecosystems, master the art of value creation and value capture.

- Wisdom of crowds and startups: Leverage the wisdom of crowds to speed up the pace of innovation. Learn to collaborate with startups. There is often great synergy between startups. Think of them as explorers and incumbents.
- Experiment: Experiment, experiment, experiment. If the idea fails, figure out why and diverse course. If it succeeds, figure out why and scale up.
Digitization is never-ending process: Treat digitization as a never-ending journey. The foundational technologies, AI, block chains, sensors, quantum computing, 5G and others are evolving at a breakneck pace. New opportunities will keep emerging.

Artificial Intelligence: Harness the power of AI to make smarter decisions with greater speed and at a lower cost. AI is the most potent disruptor among all digital technologies.
Agile Organization: Make the organization increasingly more agile. Move with speed while making mostly smart decisions.