{"id":46181,"date":"2014-05-19T16:50:55","date_gmt":"2014-05-19T20:50:55","guid":{"rendered":"http:\/\/danielschristian.com\/learning-ecosystems\/?p=46181"},"modified":"2014-05-21T17:33:51","modified_gmt":"2014-05-21T21:33:51","slug":"reflections-on-strategic-principles-for-competing-in-the-digital-age-hirt-willmott","status":"publish","type":"post","link":"http:\/\/danielschristian.com\/learning-ecosystems\/2014\/05\/19\/reflections-on-strategic-principles-for-competing-in-the-digital-age-hirt-willmott\/","title":{"rendered":"Reflections on “Strategic principles for competing in the digital age” [Hirt & Willmott]"},"content":{"rendered":"

Strategic principles for competing in the digital age<\/a><\/strong> — from mckinsey.com by Martin Hirt and Paul Willmott
\nDigitization is rewriting the rules of competition, with incumbent companies most at risk of being left behind. Here are six critical decisions CEOs must make to address the strategic challenge posed by the digital revolution.<\/em><\/p>\n

Excerpts:<\/em><\/p>\n

Today\u2019s challenge is different. Robust attackers are scaling up with incredible speed, inserting themselves artfully between you and your customers and zeroing in on lucrative value-chain segments.<\/p>\n

The digital technologies underlying these competitive thrusts may not be new, but they are being used to new effect.<\/p>\n

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As these technologies gain momentum, they are profoundly changing the strategic context: altering the structure of competition, the conduct of business, and, ultimately, performance across industries.<\/p>\n

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Also see:<\/em><\/p>\n

Digital strategy<\/a><\/strong> — from mckinsey.com by Paul Willmott
\nDigitization is fundamentally altering the nature of competition. McKinsey\u2019s Paul Willmott explains how digital winners think and what companies can do to compete.<\/em><\/p>\n

Excerpt:<\/em><\/p>\n

Digital is fundamentally shifting the competitive landscape in many sectors. It allows new entrants to come from unexpected places. We\u2019re seeing banks get into the travel business in some countries. We\u2019re seeing travel agents get into the insurance business. We\u2019re seeing retailers go into the media business. So your competitor set is not what it used to be.<\/p>\n

One thing that digital allows is what I call \u201cplug and play dynamics\u201d\u2014meaning that companies can attack specific areas of the value chain rather than having to own the whole thing. This is because digital allows different services to be stitched together more quickly and cheaply.<\/p>\n

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From DSC:<\/span><\/em>
\nThe above two items made me wonder:<\/span><\/p>\n