Digital Transformation: Transformation of Markets, Business Models, and Strategy

Changing demographics, technology innovation, and global competition are driving enterprise-wide business transformation. Digital natives—two new generations of buyers and corporate talent—are wired to connect, communicate, and operate in this environment. How they instinctively navigate this digital age is redefining how organizations are responding to customer expectations, continuous business innovation, and competition. A recent Wall Street Journal article said, “We are in an era of extraordinary change in core business models. Technology is usually the cause.” As organizations shift from pre-digital age business models to more agile platform-based models, their strategies are changing too. Digital technologies are the tools that organizations are using to meet the demands of a new breed of the buyer and a competitive global economy. It’s clear that today—and going forward—every business is now a digital business.