How can legacy firms remain relevant in the digital era? In The Future of Competitive Strategy, strategic management expert Mohan Subramaniam explains how firms can leverage both their traditional strengths and the modern-day power of data and digital ecosystems to forge a new competitive strategy. Drawing on the experiences of a range of companies, including Caterpillar, Sleep Number, and Whirlpool, he explains how firms can benefit from data’s enlarged role in modern business, develop digital ecosystems tailored to their unique business needs, and use new frameworks to harness the power of data for competitive advantage.
Subramaniam presents digital ecosystems as a combination of production and consumption ecosystems, which can be used by legacy firms to unlock the value of data at various levels—from improving operational efficiencies to creating new data-driven services and transforming traditional products into digital platforms. He explores the ways sensors and the Internet of Things provide new kinds of customer data; presents the concept of digital competitors—other firms that have access to similar data; discusses the new digital capabilities that firms need to develop; and addresses privacy and security issues associated with data sharing.
Who needs this book? Any firm that wants to revitalize traditional business models, offer a richer customer experience, and expand its competitive arena into new digital ecosystems.
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Mohan Subramaniam offers a new paradigm for competitive strategy essential for all firms that desire to remain relevant in the digital era. This book provides a unique perspective for firms on the quest for competitive advantage.
This insightful book contains a pragmatic digital framework with great examples for business leaders and practitioners to strategically leverage the power of data and digital to create a sustainable competitive advantage for their firms.
Mohan Subramaniam does a great job of outlining how companies can get value from their digital transformation journeys. His ability to weave technology with strategy and harness the new expanded role of data will be very helpful for business leaders.
The book is a must-read for industrial companies to effectively compete in the new digital world. The time to be ‘future ready’ is now and this book provides valuable insights into how to do so.
Mohan’s book provides a framework for any company to balance the pressures of managing present customers with the demands of creating future customers. Discovering value in digital customers, competitors, and capabilities and building a competitive strategy is an important idea that should permeate the strategic thinking at all companies.