Digital transformation strategy: Beat the competition with the best digital transformation strategy
Digital transformation strategy is taking on critical importance for organizations facing new challenges as digital technologies reshape the business environment. Having an effective digital transformation strategy allows you to leverage digital innovations to boost your company's competitiveness.
And the right digital transformation strategy will enable you to recognize and ward off digital threats from competitors looking to poach your business. Top international business schools offer helpful training courses for executives seeking the leadership skills to develop and implement a digital transformation strategy that works.
Leaving the analog world behind
An increasing number of traditional companies are discovering — sometimes the hard way — that the analog approach is out of date. Digital companies are surging at a time when many old-world enterprises with a track record for success are struggling to maintain market share.
If your organization doesn't have a digital business strategy it's time to catch up. But that may be easier said than done if you are unable to persuade key decision-makers such as your chief executive officer to see the digital advantages.
Making the case for change
Despite the threats posed by digital innovations and new ways of operating, often half the battle for business managers is getting boards to recognize the need for a digital business strategy. Inertia can handicap companies at risk of taking a hit to their business from nimble startups using the latest digital tools.
Inertia can turn to resistance to digital business transformation, which can ultimately lead to a company's downfall. Business schools that develop their curriculum by working with companies offer digital strategy consulting that can help senior leaders to make a solid case for digital transformation. They can also aid organizations that are aware of the need for a digital transformation strategy but just don't know how to go about developing and implementing one.
Getting ahead with targeted leadership training
Digital transformation involves a lot more than acquiring new technologies. You need a detailed plan for organizational change, the development of new leadership competencies and the knowhow to use digital tools.
- Develop a digital transformation strategy that is relevant to your business
- Use digital technologies to boost your competitive advantage
- Reorganize to get the maximum benefit from digital innovations
- Identify digital threats and new digital technologies that will impact your organization
- Spot new products and markets that can be gained through digital technologies
- Plan the need for new leadership competencies to support digital change in your organization
Immerse yourself in digital tools
For business leaders at traditional companies that were not created on the Internet like Amazon or Google, going digital doesn't come naturally. The best executive education programs focusing on digital transformation will give you a leg up.
High-impact courses immerse you in digital innovations that may seem foreign even if you are familiar with the names. To drive digital business transformation you should be able to make the most of such tools as e-commerce, big data, analytics, mobile solutions and cloud computing.
Solid training courses will teach you how to leverage these tools, and others such as social media and the Internet of Things, to drive better performance in your organization. Once you have the right strategic and organizational foundations in place, your organization can get ready to soar with a high-performance digital transformation strategy.
IMD business school
Want to drive the digital transformation of your business?
See how IMD's Leading Digital Business Transformation program builds your digital strategy & business modeling skills - download the free brochure now!
What kind of executive education are you after? How about IMD's:
- Leadership development program for young managers
- Business management training for high-potential managers
- Business management degrees
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- Personalized executive business coaching
- Leadership skills training for experienced managers
- Leadership skills training for women
- Strategic management training for business leaders
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- Strategic marketing course
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- Training courses for learning executives
- Corporate governance training for board members
- Management succession plan training for family businesses
- Custom executive education for companies
- Or use our Program Finder to find out more about IMD's digital transformation strategy.