Globalisation and digitalisation : digital transformation management at traditional companies

Digital user and customer behaviour and digital technologies increasingly form the basis for new business models. Whereas the forte of established companies is their long-standing understanding of customer needs and excellent production and research know-how, new digital providers usually make a beeline for the most profitable product and service offerings. Digital business models are quickly scalable. Since the outbreak of the coronavirus pandemic, digital business concepts have become increasingly popular because of the contact restrictions imposed worldwide. Traditional companies face the challenge of dealing with issues such as agile organisation, the possible cannibalisation of their analogue-based business models and the application-compatible further development of existing IT systems. Based on interviews with entrepreneurs and leaders from nine different industries, the team of authors has developed a new tool: the "Digital Business Transformation Matrix". Starting out from current positioning in terms of geographical reach and digital development status, companies map out a development path to their strategic target position over a period of ten years. The authors explain how a digital transformation process can be successfully implemented at established companies. The new "Digital Business Transformation Matrix" tool creates an orientation framework for the strategic orientation of companies in line with digital business models. A three-stage strategy process for the development of a digital business model for traditional companies is proposed.