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2021 | OriginalPaper | Chapter

Planning and Driving a Digital Strategy

Author : Olivier Serrat

Published in: Leading Solutions

Publisher: Springer Singapore

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Abstract

This précis argues that in the Internet of Things organizations must embrace the digital world if they are to survive and, preferably, thrive. Irrespective of the sector or industry an organization is in, digital transformation enables fundamentally different ways for it to think about clients, audiences, and partners, and to engage with them.

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previous chapter The Learning Organization Needs No Apology

next chapter Information and Communication Technology in Organizations: An Evolutionary Perspective

Hung (2017) reckoned that about 20 billion devices would be connected to the Internet by 2020: one third of them were to be computers, smartphones, tablets, and TVs; the rest were to be imbedded technology (e.g., actuators, sensors, and intelligent devices) that would monitor, and help enhance performance. Many sources predict Internet of Things connections will reach 50 billion by 2030.

This is not to say that digital strategies happen out of the blue: rather, they must both advance and sharpen what Drucker (1994) termed the “theory of the business”. In that spirit, Henderson and Venkatraman (1999) emphasized the need for strategic fit and functional integration across (a) long-term strategy, (b) digital strategy, (c) organization infrastructure and business processes, and (d) information and communication technology infrastructure and business processes. Contemporary business model development approaches have also highlighted the role that digital transformation can play in aid of organizational performance (Schallmo & Williams, 2018).

SMART is an acronym (and mnemonic) for five criteria with which to set the objectives of an initiative, viz., Specific, Measurable, Assignable, Realistic, and Timebound.

Communication is the process by which relationships are instituted, sustained, altered, and ended: comprehensive engagement requires that communications adhere to such principles as continuity, credibility, dialogue, integration, precision, results-orientation, ubiquity, and understanding (Serrat, 2012b).

Drucker, P. (1994). The theory of the business. Harvard Business Review, 72(5), 95–104.

Henderson, J., & Venkatraman, N. (1999). Strategic alignment: Aligning information technology for transforming organizations. IBM Systems Journal, 32(1), 472–484.CrossRef

Hung, M. (Ed.). (2017). Leading the IoT: Gartner insights on how to lead in a connected world. Retrieved from https://www.gartner.com/imagesrv/books/iot/iotEbook_digital.pdf.

Markovitch, S., & Willmott, P. (2014). Accelerating the digitization of business processes. McKinsey & Company. Retrieved from https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/accelerating-the-digitization-of-business-processes.

Schallmo, D., & Williams, C. (2018). Digital transformation now! Guiding the successful digitalization of your business model. Cham, Switzerland: Springer.

Serrat, O. (2008). Conducting after-action reviews and retrospects. Manila: Asian Development Bank.

Serrat, O. (2010a). Design thinking. Manila: Asian Development Bank.

Serrat, O. (2010b). Leading top talent in the workplace. Manila: Asian Development Bank.

Serrat, O. (2012a). Future search conferencing. Manila: Asian Development Bank.

Serrat, O. (2012b). Communications for development outcomes. Manila: Asian Development Bank.

Serrat, O. (2015). Striking a balance between physical and digital resources. Manila: Asian Development Bank.

Westerman, G., Bonnet, D., & McAfee, A. (2014). Leading digital: Turning technology into business transformation. Boston, MA: Harvard Business Review Press.

Title: Planning and Driving a Digital Strategy
Author: Olivier Serrat
Publisher: Springer Singapore
Book: Leading Solutions
Print ISBN: 978-981-336-484-4

Electronic ISBN: 978-981-336-485-1

Copyright Year: 2021
DOI: https://doi.org/10.1007/978-981-33-6485-1_44