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Showing posts with the label How digital transformation affects business strategy frameworks

How digital transformation affects business strategy frameworks

 Technology has by definition never been at a standstill, and there is always something new being developed or launched. In the past few decades, though, the pace of change has touched new heights, with digital transformation becoming an inexorable necessity to succeed in the future. What has been the effect on companies? Emerging technologies such as artificial intelligence, big data, blockchain, the Internet of Things (IoT), and machine learning have contributed to the high speed of digital disruption in the world of business. Consequently, companies that failed to adapt or modify their business strategy framework to keep pace with digital changes suffered as a result. Which lessons have this digital disruption taught? Corporate leaders have had to change the way they think about business strategy , driven by the force of technological change. Here are the key lessons: Traditional business models are losing ground: Companies are learning to work on new business models, fueled b...