6 Types Of Digital Business Transformation

 Not everyone has the same definition of Digital Transformation. According to Baker McKenzie, 𝟔𝟗% of organizations define Digital Transformation as a tool for improving process efficiency. Meanwhile, 𝟐𝟑% view Digital Transformation as a tool for developing new ways to sell products and services, and only 𝟖% think of it as a developing business model change.

Digital business transformation is a multifaceted process that involves a wide range of strategic changes and adaptations across an organization. It is crucial to recognize that there isn't just one type of digital transformation; rather, it encompasses various aspects such as process, business model, cultural/organizational structure, customer experience, domain, and ecosystem transformation. Focusing solely on one dimension can limit an organization's overall success and hinder its ability to thrive in a rapidly evolving digital landscape.

Concentrating only on process transformation, for example, may lead to improved efficiency but overlook the importance of adapting to new business models or enhancing customer experience. This narrow focus could cause an organization to miss out on new opportunities, revenue streams, and competitive advantages that other aspects of digital transformation offer.

To achieve a holistic and effective digital transformation, businesses need to consider several elements simultaneously.

𝐒𝐨𝐮𝐫𝐜𝐞 𝐟𝐨𝐫 𝐒𝐭𝐚𝐭𝐬:

https://www.bakermckenzie.com/.../2021-digital...

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