Digitalization (How to go digital) - Part 1

This book from MIT Sloan Management Review is a compilation of articles on digitalization. This book came out. 2018 In English, it was translated into Russian into English. 2019And my hands got to her at the end. 2023. Honestly, if it weren't for the MIT nameplate, I wouldn't have paid attention to this book:) The book itself is 17 articles that are divided into 5 parts:

Part part 1 - Foundation laying Here in four articles we are talking about

1. Developing a digital strategy where the authors suggest choosing between a customer acquisition strategy or a digital solution strategy (When we add information to products, which increases customer value). And to choose both, the authors do not work.
2. Dispelling the myths of digitalization, where the authors mention 5 mythologyEvery company needs to “digitize,” digitalization relies on the latest or even breakthrough technologies, profitable companies are most likely to launch successful digitalization projects, we must “blow up” our industry before anyone else does, executives can’t wait for digitalization. The author analyzes each myth and shows why it is not so:)
3. Hiring cool techies to implement digitalization, where the authors will promote the “talent market” and attract freelance specialists. I think the authors here idealize the concept of hiring freelancers.
4. Rethinking development strategies in the digital economy, where the authors cite standard examples of disrupting an entire business line: Kodak and digital photo, Blockbuster and video streaming (Netflix)Taxi market and Uber, Barnes & Noble in the book market and Amazon:) The conclusion is that in the digital world it is necessary to take a broader look at the development strategy and go further with the flow will not work.

Part part 2 Formation of value based on data Here, in four articles, the authors explain how data can make money:) 5. In this article, the authors consider three options: optimization of internal business processes and decisions based on data, linking additional information to major products and services, and selling individual information products. 6. How much your data costs - here the authors consider approaches to estimating the value of data (which in the article sound very vague). 7. Whether your company is ready to use HR-analytics – this article seemed to me very basic, perhaps because in our company hr-analytics is common + I myself thought a lot and even talked about how to use it. 8. The article is about data interpreters who understand the subject area and help to pull out the interpretation of accumulated information. It seems to me that this concept resembles a transitional stage, since in the target state, managers themselves must be able to interpret information in their subject area and get insights from it.

#Management #Digitalization #Leadership #Strategy #Software