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TAKING DIGITAL STRATEGY TO THE NEXT LEVEL
STEVE MUYLLE, PHDFULL PROFESSOR & PARTNER
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Vlerick Business School
NASDAQ
2 © Prof Dr Steve Muylle
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Vlerick Business School3
“Listen to the lab coats, not the suits.
And get the lab coats to produce prototypes,
not slideware.”
© Prof Dr Steve Muylle
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Vlerick Business School4
JOB MATCHING
© Prof Dr Steve Muylle
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DIGITAL STRATEGY
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Vlerick Business School
WHAT IS DIGITAL STRATEGY?
6
Digital Strategy is the use of digital technologies
to enhance the firm’s performance
in support of its strategic priorities.
© Amit Basu © Steve Muylle
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Vlerick Business School
THE ENVIRONMENT OF DIGITAL STRATEGY
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INFORMATIONTECHNOLOGY
web, cloud, social, mobile,
big data, IoT, ML
MARKETbehavior,
product digitization,
platforms, ecosystems
FIRMstrategy,
structure, culture, talent
PERFORMANCE
metrics
DIGITAL STRATEGY
digital innovation initiatives
© Amit Basu © Steve Muylle
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TECH TRENDS & MARKET SHIFTS
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BIG DATA ANALYTICS
© Prof Dr Steve Muylle
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Vlerick Business School10
BIG DATA ANALYTICS
© Prof Dr Steve Muylle
▪ Decide.com (acquired by eBay; shut down Sep 30, 2013)
▪ Web site (and mobile app)
Price Alerts: We'll notify you the moment the price of a product you want drops
Online and Nearby Pricing: Get the best price whether it's in-store or onlinePrice Predictions: Find out whether the price is going down or upPrice Guarantee: If our predictions are wrong, we'll pay you the difference
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CUSTOMER BEHAVIOR
© Prof Dr Steve Muylle
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CUSTOMER BEHAVIOR
© Prof Dr Steve Muylle
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PRODUCT DIGITIZATION
© Prof Dr Steve Muylle
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Vlerick Business School
PLATFORM MARKETS
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Vision 2020: Smart Platforms & Energy Services
“Toon Open API”www.toonapi.com
© Prof Dr Steve Muylle
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Vlerick Business School
MACHINE LEARNING
15 © Prof Dr Steve Muylle
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Vlerick Business School
MACHINE LEARNING
16 © Prof Dr Steve Muylle
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Vlerick Business School
MEET HEAD CHEF ANDREW
17 © Prof Dr Steve Muylle
(Sources: http://english.huistenbosch.co.jp/ FT.com 1/2/2017)
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FIRM
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ORGANIZATIONAL DNAFOR STRATEGIC INNOVATION
© Prof Dr Steve Muylle
Source: Vijay Govindarajan and Chris Trimble, Organizational DNA for Strategic Innovation, California Management Review, Vol. 47, No. 3, pp. 47-76, Spring 2005.
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FINANCIAL INVESTMENTS
© Amit Basu © Steve Muylle
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INNOVATION WITHIN EXISTING BUSINESS MODEL
© Prof Dr Steve Muylle
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STRATEGIC EXPERIMENTS
© Prof Dr Steve Muylle
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DIGITAL TRANSFORMATION
© Prof Dr Steve Muylle
▪Transformation A: Reposition the core business, adapting to the altered marketplace
▪Transformation B: Create a separate, disruptive business to become the next source of growth
▪ “Capabilities exchange”: Establish a new organizational process that allows the two transformation efforts to share resources without intervening with each other’s operations
Source: Gilbert, Clark, Matthew Eyring, Richard N. Foster, Two Routes to Resilience, Harvard Business Review, pp. 3-9, Dec 2012.
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BEYOND THE OBVIOUS
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TECH TRENDS AND MARKET SHIFTS
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Vlerick Business School
IBM BLUE MATCHING
26 © Prof Dr Steve Muylle
Source: https://www.slideshare.net/scherbakovvladimir/dec-910-2015-talent-mngt-forum-epertise-ibm
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Vlerick Business School
MEET MYA
27 © Prof Dr Steve Muylle
Source: https://hiremya.com/
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MEET MATLDA
28
Source: FT.com Nov 17 2016: Robots muscle in on the job interview.
© Prof Dr Steve Muylle
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Vlerick Business School
UNILEVER NEW TALENT RECRUITMENT
29 © Prof Dr Steve Muylle
Source: Business Insider, Unilever uses AI to hire entry-level employees, Jun 28 2017.
Results July 2016 – June 2017:
▪ Applications to jobs doubled within
the first 90 days of their posting
year-over-year, to 30,000
▪ Average time for a candidate to be
hired was reduced from 4 months
to 4 weeks
▪ Job offer acceptance rate increased
to 82% from 64%
▪ “Most diverse class to date”
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PRIORITIZATION – STRATEGIC BUDGETING
Worth ExploringWorth Building
Valu
e
Cost
Unattractive
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STRATEGIC EXPERIMENTS
© Prof Dr Steve Muylle
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TAKE AWAY
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Vlerick Business School
▪ Embracing conventional digital technologies and associated
business practices does not suffice
▪ Incumbent firms take digital strategy to the next level by
▪ Staying abreast of tech trends and market shifts
▪ Crafting new business models that forget and/or borrow
▪ Piloting new ecosystems as platform leaders
▪ The end game is to have digital innovation drive
performance
33
TAKE AWAY
© Prof Dr Steve Muylle
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Vlerick Business School
THANK YOU!
Steve Muylle, PhD
Full Professor & Partner
Academic Director Online MBA
Accenture Digital 20/20 Chair
Vlerick Business School
www.linkedin.com/in/stevemuylle