Digital transformation has been the buzzword for the past decade(s). Companies are keen to embrace new technologies and ride the wave of change. When it comes to buzzwords bingo, incumbents are unbeatable. However, many businesses find it difficult to adapt to the new era of digital technology, especially when it comes to their business models. The fear of change and…
As business leaders, we often hear the term “strategy” thrown around in boardrooms, presentations, and annual reports. But what does it truly mean to have a good strategy versus a bad strategy? In his thought-provoking book, “Good Strategy, Bad Strategy: The Difference and Why It Matters,” Richard Rumelt, a seasoned professor at the UCLA Anderson School of Management, dives deep…
In a current strategy project, the firm follows a Scrum framework for project management. However, I have noticed a concerning trend regarding the product owner’s approach. The product owner solely focuses on tasks that align with the web analytics data, prioritizing only what people are currently searching for. Unfortunately, this short-term mindset jeopardizes the long-term strategy. By neglecting the broader…
Weed control is an essential task for farmers and cultivators, dating back to ancient times. In the past, weed control was done manually, which was labor-intensive and time-consuming. Later, herbicides provided a new tool for farmers to control weeds more efficiently. However, with the rise of concerns over the environmental impact of herbicides, a new innovation has emerged: robots designed…
In summer 2001, I published my doctoral thesis on “Business Models in the digital Economy” in German (big mistake!). 20 years later, the topic is hotter than ever, however still very little understood and executed in traditional companies, while the most valuable firms on earth are all newcomers with innovative business models. I wrote my thesis for incumbents like my…
News is full of cool technologies like drones, blockchains or autonomous cars and their disruptive character. Traditional firms have switched to innovation mode and have now cool digital transformation units to use these new technologies. Everybody is happy. Great, isn’t it?Or wait? Can this really work that easy? I just had a project with a company that has set up an innovation unit to push…
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