Digital strategies are no longer just an IT department’s responsibility; they are now crucial for business leaders too. It’s essential for these leaders to own their digital strategies and understand the impact of digital on their business model. This understanding has become significant as the digital economy is not just about speed but is also a series of ongoing, interconnected disruptions.
Business leaders need to understand that the digital economy is not just about technology but about how their businesses can be reimagined. They should seek to understand how digital changes their customer relationships, channels, and propositions. For example, they need to comprehend how social media impacts their brand and how mobile impacts their interactions with customers.
In the digital economy, businesses need to be agile, innovative, and customer-centric. Leaders should focus on creating a digital culture within their organisations. This can be achieved by recruiting employees with digital skills, encouraging digital innovation, and promoting a culture of continuous learning and adaptation.
In summary, business leaders need to own their digital strategies, understand the impact of digital on their business, and create a digital culture within their organisations.
Go to source article: http://www.cmo.com.au/article/546153/business_leaders_need_own_digital_strategies/