Digital Transformation and Value Creation: Sea Change Ahead

Publications

Download

Suggested Citation

Reddy, S., & Reinartz, W. (2017). Digital Transformation and Value Creation: Sea Change Ahead. GfK Marketing Intelligence Review 9(1), 10-17.

Year

2017

Authors

Srinivas K. Reddy,
Werner Reinartz

Publication title

Digital Transformation and Value Creation: Sea Change Ahead

Publication

NIM Marketing Intelligence Review

Download

Srinivas Reddy and Werner Reinartz

Digital transformation is taking place all around us and there is hardly a single aspect of life that has not been affected. It has an obvious, lasting, and even revolutionary impact, not only on the economic systems and commercial players, but also on the lives of individuals and on society at large. Digital transformation will bring greater tangible and intangible value, but the changes do come with certain costs and risks, sometimes unforeseen.

In terms of business strategy, digital technology has been transforming businesses dramatically. Even young companies that have been at the forefront of digital disruption are forced to reinvent and transform themselves and their businesses permanently in order to survive and thrive. If incumbents themselves don’t take advantage of this digital progress to innovate, others will. A new wave of digital disruptors is changing the face of industries. The ability to innovate is thus more important than ever. Entire industries may be threatened if they do not react quickly, while others are emerging almost instantly as if out of nowhere. Handling speed and providing real-time solutions is therefore one of the most critical skills in a digital world.

Authors

Srinivas K. Reddy, Professor of Marketing, Director Center for Marketing Excellence, Singapore Management University, Singapore, sreddy@smu.edu.sg
Werner Reinartz, Professor für Marketing, Leiter Seminar für Handel und Kundenmanagement; Direktor Institut für Handelsforschung (IFH e.V.), Universität zu Köln, Deutschland, werner.reinartz@uni-koeln.de

Share Publication

Copy link

Here you can find more exciting articles of this issue.

To the entire issue

It is not only products or services that are becoming obsolete but also organizational processes and systems because they simply no longer …

The driving force behind our internet economy is demand-side economies of scale, also known as network effects. These arise when users …

Digital transformation requires a digital mindset and new approaches to dealing with both decision risk and decision speed.

Crowdfunding is a method of raising funds to support a venture, usually by raising small amounts from a large number of investors.

Digital transformation has a strong impact on the retail industry. Activities that were once retail sector are moving to online stores, …

across all continents. To keep up with the rapid influx of new city dwellers, city leaders are turning to technology. One of the key …

Online advertisers have the non-trivial job of jointly assessing the effects of banner ad design elements available in a large number of …

“In our increasingly digital world, more than ever before, brands must be open to a dialogue with their consumers,” Martin Wulle states in …

Scroll to top

Other articles of the MIR issue “Digital Transformation”