Digital Business Strategy

Digital Business Strategy is a

plan of action to gain economic advantages from the use of digital technologies and supporting capabilities

Economic advantages of digital technologies may include

• Operational excellence to improve processes and reduce the cost of doing business

• Business growth to improve the top line

• Customer satisfaction through better customer experience

• Faster time to market to deliver products and services

• Better Return on Equity through growth and efficiency

FORMULATION

PLAN

Sponsor	Scope	Stakeholders
CEO/Head of Digital	Enterprise-wide	Heads of LOBs Heads of Support Functions
Head of LOB/Head of Digital for the LOB	Particular LOB	LOB managers
Head of Support Functions	Particular Support Function	Support Function managers

Sponsors' Concerns

1. How to leverage technology to gain an economic advantage?

2. Competitive advantage through the use of technology

3. Engine 1 (traditional business model) vs. Engine 2 (digital business model)

4. Organisational posture

5. Digital transformation governance

FORMULATION

PLAN

Meet head of digital line of business or sponsor of this initiative. Capture their vision, scope and concerns. Develop a list of stakeholders who should be engaged in this initiative.

ENGAGE

Meet the stakeholders and capture their concerns, ideas and recommendations related to how digital technologies can help achieve organisational objectives.

DIAGNOSE

Deep dive into stakeholder concerns to prioritise in order to filter the concerns with the highest impact on the organisation.

DECIDE

Evaluate options to address the problems and create a pros and cons list to lead to an eventual decision.

GUIDE

Document guiding policy based on decision.

DEFINE OKR

EXECUTION

ACT

REPORT

RETROSPECT