Week 4 Introduction

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From the course by BCG

Digital Transformation

881 ratings

BCG

Digital Transformation

881 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 Framework10:46

Meet the Instructors

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

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.

In module two, Mike has discussed the underlying economics of a digital transformation.

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 a digital transformation.

We'll start by sharing a comprehensive framework to see all the building blocks,

businesses should tackle in such a high-stakes program.

Then Aman, Sonya 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 it should operate to maximize value creation.

The strategy, we will discuss

how business strategy as a discipline was deeply transformed by among other things,

to recent technology evolution.

We will then applying a practical approach for companies to define

their strategies depending on the business environment they are 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 call,

we will take a look further up to what defines a company's future value creation.

Is 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 adopting 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 a 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 is 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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