I read "Digital Transformation for Leaders": Creating a New Business Model
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The two authors of this book shout out to all organizational leaders: “What is better evidence than the COVID-19 epidemic?” No matter whether your organization is new or old, even if the “virus” does not find you, competitors will eventually find you. We have no excuses for procrastination. Every organization must be committed to changes in organizational processes, operating systems, and competitive capabilities!
Speaking of digital transformation, I believe everyone is familiar with it. Especially in the past two years when the COVID-19 epidemic has been raging, many people’s work and life patterns have been greatly impacted and affected. For various enterprises, digital transformation cannot be just a matter of paper, but an imperative!
But what exactly is digital transformation? Some people believe that whenever a company begins to use new technologies to optimize its original business model and update its internal work processes, thereby promoting the transformation of its organizational structure or improving the value of customer services, it can be regarded as digital transformation.
The domestic technology and financial media “Digital Age” pointed out that [the core spirit of digital transformation] (https://www.bnext.com.tw/setag/%E6%95%B8%E4%BD%8D%E8%BD%89%E5%9E%8B/p/1) is in response to the disruption of industries, markets and service activities generated by digital technology, thinking about the direction of future business strategy changes of enterprises, and then seeking the value-added application of emerging digital tools.
There is no doubt that digital transformation is a critical issue for businesses, organizations and the public sector. Therefore, two professors from Harvard Business School, Marco. Yan Xiti and Karin. Lakhani wrote the book “Digital Transformation for Leaders” based on their years of research and observation in the field of digital transformation and innovation management.
They want to use [this book](https://www.books.com.tw/exep/assp.php/vista/products/0010891472?utm_source=vista&utm_medium=ap-books&utm_content=rec ommend&utm_campaign=ap-202105), conveying an important concept to the world: the so-called digital transformation does not force the company to transform into a completely different operating model, but when traditional organizations introduce digital operations, they still retain the cultural and competitive advantages accumulated in the past, and start a new wave of growth momentum between the new and the old.
To be honest, when I first got this book, I wasn’t excited at all when I saw the big title on the cover: Digital Transformation of Leaders. If you ask me, is digital transformation important? Well, the answer is of course yes. But the problem is that we have been shouting about digital transformation for many years. In addition to theory, are there any actual cases to support it?
Therefore, although I have no doubt about the academic qualifications of these two Harvard Business School professors, I still have some hesitation about such a cold topic. Should I spend some time reading?
Fortunately, I finally had the patience to read it and found it to be a wonderful book. Although digital transformation and artificial intelligence are important, they seem a bit distant to many people and are not easy to understand. Fortunately, there are many wonderful cases mentioned in the book, which not only have great reference value, but also allow people to understand the business models of these outstanding companies.
For example, Peloton, a new generation of fitness equipment company, I am deeply impressed by the rapid rise of this company!
Peloton was founded in 2012 and has quickly taken the U.S. fitness industry by storm, with a membership of up to 4.4 million and quarterly revenue of US$1.06 billion. When it was listed on the Nasdaq, CEO John. John Foley once boldly stated in the prospectus, “Peloton sells happiness.” The company’s red logo has attracted a large number of followers who have fitness dreams, and has been described by foreign media as “as magical and mysterious as a cult.”
The business model of Peloton is very simple. It mainly sells treadmills and flywheel bicycles with screens, priced at US$3,995 and US$1,995 respectively; in addition, it also charges a monthly membership fee of US$39 per month (https://www.onepeloton.com/membership). After paying these prices, members can freely exercise at home or in the office, receive guidance from remote fitness coaches at the same time, and enjoy tailor-made and considerate services, without having to travel all the way!
Having said that, we in Taiwan also have many outstanding local fitness equipment manufacturers. In recent years, inspired by Peloton, they have also invested in the research and development of related novel business models, hoping to deliver outstanding results.
The book “Digital Transformation for Leaders” sorts out the key points of digital transformation for everyone. , and also includes a large number of practical cases of enterprises, such as: Moderna vaccine that relies on “AI factory” to quickly go from research and development to manufacturing, IKEA’s digital retail transformation, British online shopping platform Ocad o) and the health technology company Peloton, etc., explain in detail how traditional organizations can deploy future momentum, deepen agility and flexibility, and effectively enhance organizational competitiveness in the digital era when they face endless and unpredictable exponential crisis threats.
Overall, [this book](https://www.books.com.tw/exep/assp.php/vista/products/0010891472?utm_source=vista&utm_medium= ap-books&utm_content=recommend&utm_campaign=ap-202105) has solid content and extensive references. If you are interested in topics such as digital transformation, corporate leadership and business models, I am happy to recommend this good book to everyone!
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Further reading
- I read the “age of value proposition”: a blueprint for showing the value of business models and services
- I read “Essential Adaptive IQ for Global 800 CEOs”: Adapt to the challenges of the VUCA era, start by mastering the top ten growth paths
- Recommended Preface to Dual-track Transformation: The transition of an enterprise starts with repositioning, thinking upgrading and process innovation
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