Week 4 Introduction

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From the course by BCG

Digital Transformation

266 ratings

BCG

Digital Transformation

266 ratings

Digital transformation is a hot topic--but what exactly is it and what does it mean for companies? In this course, we talk about digital transformation in two ways. First we discuss the pace of change and the imperative it creates for businesses. Next we provide the context for this transformation and what it takes to win in the digital age. Then we walk through BCG's proprietary framework, which helps you identify key areas to digitize, including strategy, core processes, and technology. By the end of this course, you'll be able to: --describe the underlying economics of innovation, technology, and market disruptions --weigh the pros and cons of current digital technologies driving advancement --utilize BCG's digital transformation framework as a ""how-to"" for digitizing your organization

From the lesson

Your Path to Digital Transformation

During Week 4 we tackle the "how" of digital transformation. We approach this challenge using BCG's proprietary framework, which provides a practical strategic model for moving from a legacy to a digitized business. We'll explain the framework's fundamental duality and the different enablers of digital transformation.

Week 4 Introduction5:04

Interview with Tom Reichert on the Framework10:47

Meet the Instructors

Michael Lenox
Senior Associate Dean and Chief Strategy Officer
Darden School of Business
Amane Dannouni
Principal at The Boston Consulting Group, Singapore
Sonja Rueger
Project Leader, The Boston Consulting Group
Ching Fong Ong
Senior Partner and Managing Director, The Boston Consulting Group

Welcome to module four, the last but

probably most important module of this Digital Transformation course that BCG and

Darden School of Business have jointly develop.

In the first module, we have learned about three fundamental exponential trend and

how those have driven the evolution of technology and

therefore have influenced our world.

In module two,

Mike has discussed the underlying economics of a digital transformation.

And in the third module, we have introduced a set of digital trends that

have a strong impact on businesses today and in the future.

As already announced earlier, in this the fourth module, we'll talk about the how,

how companies can tackle the challenges of the digital transformation.

We'll start by sharing a comprehensive framework to see

all the building blocks businesses should tackle in such a high stakes programs.

Then Aman, Sonja, and

I will walk you through each building blocks of the framework.

These videos are enriched by a set of different expert interviews and

application examples.

Here's the framework first.

It starts with something that should define a company's overall approach,

not just towards digital, but to where and

how you should operate to maximize value creation, its strategy.

We will discuss how business strategy as a discipline was deeply transformed by,

among other things, the recent technology evolution.

We will then outline a practical approach for companies to define their

strategies depending on the business environment they're operating in.

The second layer of our framework has a fundamental duality that companies need to

manage under the broader umbrella of a digital transformation.

Digitizing the core on one side, creating new digital growth on the other.

We'll give you a comprehensive guide to how digitization effort

should be carried out, not as process automation, but

the more end to end customer experience design.

After looking at the company's core, we will take a look further out

to what defines a company's future value creation, its growth.

How can a company find those new adjacency?

And how should it manage the resource allocation tension with the core business?

Lastly, we'll look at the enablers, and there are four of them.

First, people and organization.

This is not only about structure.

It's about culture, governance, and adapting the way of working.

Why should it be in the digital age?

And how can it be scaled to a full company?

Another prerequisite that we have touched upon in the previous module is data and

analytics.

Despite big data and advanced analytics being commonly used term in business,

they still trigger misconception in many managers' mind.

We will go through the most common ones, and help you see how it works with

the practical examples from the transportation industry.

The third enabler is technology, the backbone of the transformation.

We will, of course, talk about how the tech function can be digital ready.

But we will also address the common tension,

the legacy system that any incumbent business will face at some point.

Are you already beginning to wonder how can a company manage all those building

blocks by itself?

Well, it doesn't need to.

That's why there's a fourth enabler, the ecosystem.

So the question becomes who in the company's ecosystem can help?

And how to build the right partnership framework?

Sounds exciting?

Let's get started.

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