TLDR:
– Born-digital companies are outpacing born-traditional companies in growth and innovation.
– Born-traditional companies can learn from their digitally savvy counterparts to stay competitive.
Article Summary
Upping Your Digital Game in the United States involves born-traditional companies seeking to learn from born-digital counterparts to compete in the digital era. Born-digital businesses have been disrupting industries with personalized offerings and fast services, posing a challenge to born-traditional companies. The key takeaway is for born-traditional firms to embrace digital transformation, extract maximum business value from data, innovate in their offerings, and rethink organizational structures.
Born-traditional companies have lagged in digital transformation compared to born-digital ones. The article highlights the importance of adopting an innovation mindset and giving up centralized control to thrive in the digital age. Making major changes in business models, organizational cultures, and talent management is crucial for born-traditional companies to survive in the face of born-digital disruption.
Leaders are advised to be open to new business and operating models, foster agile cultures, and manage staff turnover effectively to enhance digital capabilities. By making these changes, born-traditional companies stand a better chance of competing with born-digital enterprises in the evolving digital landscape.
