Bring a business perspective to your technical and quantitative expertise with a bachelor’s degree in management, business analytics, or finance. But if you spend it as you need it, and the rest of your business is still making money, your quarterly results will still be just fine.”. Gerald C. (Jerry) Kane, professor at Boston College Carroll School of Management, shares four strategic steps organizations can take on their trajectory toward digital maturity. He is the Executive Director of MIT… A rigorous, hands-on program that prepares adaptive problem solvers for premier finance careers. Digital platform — a repository of business, technology, and data components facilitating rapid innovation of new offerings and enhancements. In the rapidly changing digital economy, you can't succeed by merely tweaking management practices that led to past success. Without a platform, companies are in danger of creating for their digital offerings the same kind of siloed systems that are apt to burden their legacy systems. Work smart with the Thinking Forward newsletter. And yet, while many leaders and managers recognize the threat from digital—and the potential opportunity--they lack a common language and compelling framework … To help companies develop the new capabilities they need to succeed in the digital marketplace, Ross and her co-authors identified five foundational building blocks to digital transformation. Digital transformation is not about technology—it’s about change. ... Great article with an interesting framework for digital transformation… Source: “The New Elements of Digital Transformation” on MIT Sloan … Here’s a pragmatic framework for blending the best of the past with your ambitions for the future. Gerald C. (Jerry) Kane, professor at Boston College Carroll School of Business, shares key findings from his research with MIT Sloan Management Review on digitally transforming organizations. The What-and-How of Digital Transformation separately in social media, digital product design, custom manufacturing, and other areas (See page 19). Founded in 1974 and grounded in the MIT tradition of rigorous field-based research, MIT CISR helps executives meet the challenge of leading dynamic, global, and information-intensive organizations. What companies don’t want to do is rush to build an ambitious new digital platform as a first step — an endeavor that can cost tens of thousands of dollars. But the path toward digital transformation isn’t straightforward — or quick. Digital Transformation: From AI and IoT to Cloud, Blockchain, and Cybersecurity ... Dr. Abel Sanchez holds a Ph.D. from the Massachusetts Institute of Technology (MIT). Management research and ideas to transform how people lead and innovate. ... Massachusetts Institute of Technology. Earn your MBA and SM in engineering with this transformative two-year program. At Schneider Electric, it means not just selling electrical equipment, but offering a digital services platform that allows customers to intelligently manage their sourcing and use of energy. Sign up for Tuesday insights. “Our research suggests the reason why it’s so hard is that most established companies do not yet have the capabilities they need to become digital.”. Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. Westerman, who is a Principal Research Scientist with the MIT Sloan Initiative on the Digital Economy, suggests that the right focus is on a better strategy that is enabled by digital. 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