Six Key Steps to Build a Successful Digital Business

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Step 3: Launch a digital business center of excellence.

Create a digital business center of excellence (COE) to provide input, advice and opportunities for the collaborative formation of a digital strategy and the collaborative advice, innovations and capabilities needed for execution. 

"Start by accessing digital opportunities," said Mr. McGee. "Examine your strengths, weaknesses and potential opportunities and identify new technologies and how they might pose a potential threat. Engage people from throughout the enterprise and, more importantly, from outside the enterprise and industry, such as current and potential users, as well as recognized and unrecognized thinkers, both associated with and orthogonal to the focus of your enterprise's main vision. Assessing opportunities and especially threats starts with identifying what you have not yet thought about — a task that requires requisite variety to ask new questions and suggest new ways of thinking about the issues such as via co-creation and crowdsourcing." 

Digital business is changing the way organizations use and think about technology, moving technology from a supporting player to a leading player in innovation, revenue and market growth, according to Gartner, Inc. However, digital business should not be considered an IT program and should instead become an enterprise mindset and lingua franca, with digital expertise spread across the enterprise and value ecosystem. 

Gartner predicts that a lack of digital business competence will cause 25 percent of businesses to lose competitive ranking by 2017. 

"CIOs or IT professionals hear 'digital business' and think 'IT' will be blindsided," said Ken McGee, vice president and Gartner Fellow. "Digital business is not synonymous with IT. It is about revenue, value, markets and customers. It is outward-focused. It is a metaphorical combination of front office, top line and downstage compared with back office, bottom line and backstage. True, information and technology help to build the capabilities for digital businesses, but they are only part of a complex picture." 

"Businesses have used information and digital technology for some time as sources of efficiency and productivity," continued Mr. McGee. "However, in a digital business, digital technology, for the first time, moves into the forefront, into the heart of what the business is doing and how it generates revenue, seizes competitive advantage and produces value. Digital business represents a more extreme revolution than previous technology-driven changes, and CIOs, with their insight into technology and information, are positioned to develop and promote a successful digital business." 

Gartner has identified six crucial steps that will enable CIOs and other business leaders to build a successful digital enterprise and change the game. 

 

Related Topics : A Big Market for Big Data Jobs, Midmarket CIO, IT Management Automation, SharePoint, Technology Markets

 
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