What are the drivers of the next generation e-strategy? Read On!
A digital business strategy is a plan for using internet technology to achieve business goals. It includes an assessment of your current digital presence, goals for improvement, and a roadmap for how to get there. Creating a digital strategy can help you take advantage of the opportunities presented by the web and make sure you're not left behind as the world goes digital.
Whereas in the past, information technology (IT) strategy was seen as a functional-level strategy that needed to be aligned with the firm's overall business strategy, over the last decade or so, the way firms do business has changed dramatically with the advent of digital technologies. Today, it is no longer sufficient for IT strategy to simply align with overarching business strategy; instead, there needs to be a fusion between the two for businesses to effectively compete in today's digital age. This new concept is termed ‘digital business strategy.’
Therefore, digital business strategy is one that takes into account the fundamental changes that have occurred in the business landscape as a result of increased digitization. In particular, it recognizes that digital technologies are now affecting all aspects of business and must be considered when formulating a company's overall strategy.
To understand what digital business strategy is and the steps in developing one to maximize the Digital business value for the organization we refer you to this discussion on digital business strategy.
The paper presents a framework that can help you formulate a digital business strategy and metrics to measure and track performance after implementing it.
This discussion on your future digital business strategy will help you understand:
- What is digital business strategy?
- What are the major concepts in strategic planning in the digital era?
- What are the key and attributes of a digital business strategy?
- How has digital business strategy evolved over time?
- How to understand the future of digital business strategy?
- How to formulate an effective digital business strategy?
CIOs can use this discussion to fine tune their current internet strategy or formulate a new one.