May 02, 2019
Evaluating the evolution of the digital business model
By: Dennis Foster

Digital business—evolution or revolution?

The fourth industrial revolution is upon us. Commonly referred to as Industry 4.0, the current trend is toward fully automated manufacturing technologies. The trend includes cyberphysical systems, the internet of things (IoT), cloud computing, and cognitive computing. Robots are becoming more familiar, 3D printing is well-established, and remote-controlled drones regularly soar across our skies. Big data is now a fundamental in the operation of digital networks that crisscross our world.

Indisputably, technology makes our life easier, helps eliminate human error, and assists in making our world greener and cleaner. However, constant innovation is still needed to keep abreast of the latest disruptions, to create new ways of working, and to continue to deliver goods and services in a safe, sustainable, and successful manner.

Although it may be true that the only thing we can predict about the future is that it hasn't happened yet, business leaders need to be ready for disruption. The challenge is adopting, understanding, and implementing technology to work for our customers’ needs.

Changes caused by discontinuous and revolutionary change needs serious rethinking in the strategic direction, the organizational structure, the people, and the underlying culture. These discontinuous changes are driven by major shifts in technology development. The challenge of discontinuous change offers opportunities to fundamentally rethink existing business models. The shift toward a global and digital economy is causing disruption to the more mature business models. This has elevated an element of the digital enterprise network to heightened attention—the digital edge. Gaining an improved understanding of how and where the physical and virtual worlds meet is becoming a vital ingredient of success.

Is your organization opening up opportunities to fundamentally rethink its existing business models? Is your organization taking the challenge of increasing profits and going the extra mile to ensure customer satisfaction? The Accenture Academy courses The Shift in Existing Business Models, Business-to-Business (B2B) and Business-to-Customer (B2C) Business Model Transformation, Viability of the Right Business Model, and Framework for Digital Enterprise Transformation will help you and your organization create a framework to transform the business and evolve innovative business models.

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