Please enable JavaScript.
Coggle requires JavaScript to display documents.
Digital strategy - Coggle Diagram
Digital strategy
Develop a platform businesss
Create supply of goods and services first
build freemium model
facilitate access and transaction
choose between open or closed systems
manage partners in the ecosystem to balance interest so that banks and merchants own the data
set rules for players to operate within the ecosystem
start with a focus
Digital leadership
Set clear goal
Understand company process and mindset
Visions - pivot high growth and value area
alignment with business goals
transformation must be done across organisation, not just set up a digital dept
Approaches to reimagining business
Redefine scope
direct network effect
more customers, increase product value
indirect network effect
when product becomes a platform to connect buyers and sellers
Business model
asset-light
create valuable experiences
product as a service
platform model
connect partners and competitors
market growth (no geographical barrier)
scalable (network effects)
low transaction costs
easy matching between relevant parties
asset-light
low capital investment
Inventory-based model
greater control over quantity and delivery
better customer experience
Hybrid model (platform+inventory-based)
Approaches to digital transformation
Bold, tightly integrated digital strategies
leverage on design thinking
new partners & platforms
reinvent business model
What makes an organisation?
Products & services
Process
People
methods to reevaluate value chain
rethink innovation
leverage on external expertise and insights
operational excellence
improve productivity
reduce failure rate
competitive advantages
industry 4.0
convergence of digital and physical products
smart factory for product control manufacturing with unique codes
IOT and predictive maintenance to reduce down time
additive manufacturing
produce complex and customised products
reduce inventory and operation costs
digital supply chain
demand driven supply chain
RFID chips, route planning software
omnichannel strategy
combi of online and offline channel for better customer experience and purchase journey