How boards can have maximum impact on digital strategy

 

The digitization of global business has created a winner-take-all world where leaders and laggards alike can be upended quickly. As a result, digital capabilities play an outsized role in many of the key activities of the companies that directors oversee. Strategically, digitization enables companies to create new markets and business models, potentially disrupting entire industries. In marketing and sales, businesses can now reach customers in new ways, automate customer interactions, and aggregate a previously unimaginable volume of information to better understand — and influence — individual consumer behavior. In operations, digital technology powers everything from the supply chain to manufacturing to distribution and service. In human resources, digitally empowered employees enable nimble companies to do things faster, cheaper, and better.

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