digital beyond the obvious - vlerick business school/media/executive... · 6 digital strategy is...
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DIGITAL BEYOND THE OBVIOUS
STEVE MUYLLE, PHDFULL PROFESSOR & PARTNER
Vlerick Business School
NASDAQ
2 © Prof Dr Steve Muylle
Vlerick Business School3
“Listen to the lab coats, not the suits. And get the lab coats to produce prototypes,not slideware.”
© Prof Dr Steve Muylle
Vlerick Business School4
JOB MATCHING
© Prof Dr Steve Muylle
DIGITAL STRATEGY
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WHAT IS DIGITAL STRATEGY?
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Digital Strategy is the use of digital technologies
to enhance the firm’s performance
in support of its strategic priorities.
© Amit Basu © Steve Muylle
Vlerick Business School
THE ENVIRONMENT OF DIGITAL STRATEGY
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INFORMATIONTECHNOLOGY
web, cloud, social, mobile,
big data, IoT, ML
MARKETbehavior,
product digitization,
platforms, ecosystems
FIRMstrategy,
structure, culture, talent
PERFORMANCE
metrics
DIGITAL STRATEGY
digital innovation initiatives
© Amit Basu © Steve Muylle
TECH TRENDS & MARKET SHIFTS
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BIG DATA ANALYTICS
© Prof Dr Steve Muylle
Decide.com (acquired by eBay; shut down Sep 30, 2013)
Web site (and mobile app)Price Alerts: We'll notify you the moment the price of a product you want drops
Online and Nearby Pricing: Get the best price whether it's in-store or onlinePrice Predictions: Find out whether the price is going down or upPrice Guarantee: If our predictions are wrong, we'll pay you the difference
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CUSTOMER BEHAVIOR
© Prof Dr Steve Muylle
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CUSTOMER BEHAVIOR
© Prof Dr Steve Muylle
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PRODUCT DIGITIZATION
© Prof Dr Steve Muylle
Vlerick Business School
PLATFORM MARKETS
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Vision 2020: Smart Platforms & Energy Services
“Toon Open API”www.toonapi.com
© Prof Dr Steve Muylle
Vlerick Business School
MACHINE LEARNING
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MACHINE LEARNING
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Vlerick Business School
MEET HEAD CHEF ANDREW
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(Sources: http://english.huistenbosch.co.jp/ FT.com 1/2/2017)
FIRM
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ORGANIZATIONAL DNAFOR STRATEGIC INNOVATION
© Prof Dr Steve Muylle
Source: Vijay Govindarajan and Chris Trimble, Organizational DNA for Strategic Innovation, California Management Review, Vol. 47, No. 3, pp. 47-76, Spring 2005.
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FINANCIAL INVESTMENTS
© Amit Basu © Steve Muylle
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INNOVATION WITHIN EXISTING BUSINESS MODEL
© Prof Dr Steve Muylle
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STRATEGIC EXPERIMENTS
© Prof Dr Steve Muylle
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DIGITAL TRANSFORMATION
© Prof Dr Steve Muylle
Transformation A: Reposition the core business, adapting to the altered marketplace Transformation B: Create a separate, disruptive business to become the next source of growth “Capabilities exchange”: Establish a new organizational process that allows the two transformation efforts to share resources without intervening with each other’s operations
Source: Gilbert, Clark, Matthew Eyring, Richard N. Foster, Two Routes to Resilience, Harvard Business Review, pp. 3-9, Dec 2012.
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BEYOND THE OBVIOUS
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TECH TRENDS AND MARKET SHIFTS
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MEET MATLDA
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Source: FT.com Nov 17 2016: Robots muscle in on the job interview.
© Prof Dr Steve Muylle
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PRIORITIZATION – STRATEGIC BUDGETING
Worth ExploringWorth Building
Value
Cost
Unattractive
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STRATEGIC EXPERIMENTS
© Prof Dr Steve Muylle
TAKE AWAY
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Embracing conventional digital technologies and associated business practices does not suffice
Incumbent firms can go beyond the obvious by
Staying abreast of tech trends and market shifts
Crafting new business models that forget and/or borrow
Piloting new ecosystems as platform leaders
The end game is to have digital innovation drive performance
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TAKE AWAY
© Prof Dr Steve Muylle
Vlerick Business School
THANK YOU!
Steve Muylle, PhDFull Professor & Partner Academic Director Online MBAAccenture Digital 20/20 ChairVlerick Business School
www.linkedin.com/in/stevemuylle