The Competitive Advantage in Creating a “Technology Company”
Given the surge in technology-led innovation, every firm must now become a technology company. Today’s business landscape is witnessing a surge in technology-led innovation, propelled by ubiquitous connectivity, cloud-based infrastructure, and big-data analytics. The impact and pace of all this innovation threatens to make many of today’s business strategies, value chains, and costing models obsolete. The result for managers and business leaders translates into both risk and opportunity.
For every business, creating competitive advantage in this rapidly changing environment means recognizing the reality that…no matter the products or services that it offers, it must also become a “technology company.” There must be the recognition that digital technologies bring threats and challenges as well as opportunities. These technological components demand the creation of new boxes rather than just thinking outside of older, safer ones.