Digital Strategy is a Misnomer !!
That’s true, Digital Strategy is a misnomer in the current context. In contemporary Digital Era, Digital Strategy can not be anything but business strategy.
In recent past, we have witnessed, riding on Digital wave and Digital Platforms, the glimpses of future, a paradigm shift in consumer behavior and his changed lifestyle approaches. To survive and then make an attempt to thrive, businesses must realign themselves with this new consumer and his lifestyle. This demands, a completely new look at the business strategy, embedded in the surround of Digital Infrastructure for a Digital Era. And therefore, it can not be a digital strategy in isolation and has to be a business strategy in all its comprehensiveness.
This shift is severe and the speed of alignment has to be quick, else there is a risk of businesses struggling to survive. And if recent past is any indication, many businesses are struggling and few may even be on the verge getting wiped out.
We see this shift as a behavioral shift in mankind which continuously seeks convenience and which is fundamental to being human. It’s just that, in the current context this quest for convenience is powered on a set of technologies, we are naming Digital. On its part technology continues to exponentially enhance its capabilities consequently engineering the probability of faster behavioral changes in not so distant future.
Any shift in human behavior would naturally demand a holistic relook at all the key stakeholders for an enterprise to succeed. But re-aligning all of them quickly may become confusing and may even be an impossible task and in most of the cases, it would make one, a non-starter.
A simplistic way would be to take consumer and employee as two pivots around which new alignments and new strategies could be drawn.
And rational is simple, to meet the new consumer experience expectations, its employees who would get into re-aligning and creating new set of processes, starting from Branding, Marketing, and Sales and moving deeper in the organization in the areas of Product Design, Logistics, Delivery, Sourcing and certainly human resource management. People perspective takes as much center stage as consumer perspective because a Digital Consumer can only be served by a Digital employee, till AI makes a formidable presence dealing with all aspects of human/consumer expectations and needs.
Biggest challenge won’t be the availability of methods for realignments or the knowledge required, the biggest challenge will only be our ability to accept this change, our ability to relook at our decisions and our ability and courage to burn our own past. To survive, key decision makers must go through this change before such enterprises cease to exist.