Jay Scanlan from McKinsey’s London office discusses the strategic implications of digital disruptions in the article “How digital is changing strategy.” Many companies are embracing digitization, but Scanlan notes that few leaders have determined exactly how their organization’s strategy needs to change in response. Here are some of his recommendations:
Make strategic choices: Focus on resource allocation and reallocation of budgets quickly with agility. Pay attention to data insights to understand what consumers really need, what they value, and how to deliver that to them as quickly, seamlessly, and painlessly as possible.
New developments in strategy: An example of this would be that because multiple platforms exist now with global scale, use them as they will provide your company with login services for a great number of consumer-content, connectivity, and other services.
Why digital is a core leadership issue: Leading the charge into the digital world requires a CEO-level commitment to really change the course of the organization and make it fundamentally more effective and more agile.