A digital transformation journey can go from deeply impacting the organization while maintaining legacy products to completely transforming the company business model and its value offering.
1. Leverage Data-Driven Processes: it includes monitoring, optimizing and promoting organizational responsiveness while maintaining legacy products.
2. Leverage Ecosystems: digital technologies can offer new means to collaborate with other firms, to establish new interfirm routines for sharing information and resources, and to create collective output that can offer new or enhanced value propositions to customers. Companies rewire their business model for value co-generation, to delivery and reshape their organizational boundaries.
3. Leverage Platform Marketplaces: digital technologies, particularly digital platforms, can transform the shape of a market and expand the overall value by enabling complementarity between different products, which then expand the consumption options for customers. With value shifting increasingly from a stand-alone product to platform systems, product market boundaries are no longer relevant for defining the type and intensity of competition.
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