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Digital Transformer’s Dilemma: Innovate Twice to Survive

In: Connected Business

Author

Listed:
  • Karolin Frankenberger

    (Institute of Management & Strategy)

  • Hannah Mayer

    (Harvard Business School)

  • Andreas Reiter

    (Institute of Management & Strategy)

  • Markus Schmidt

    (QSID - Digital Advisory)

Abstract

For a digital transformation to succeed, incumbent firms need to learn how to transform their core business while building new and innovative products, services, and business models. Based on more than 100 interviews with executives from globally leading companies and smaller hidden champions, as well as their own experiences, the authors explain how companies can strike the difficult balance between revitalizing—and digitizing—the core business and building a new (digital) business. Doing so, the authors focus not only on the reasons and strategy for but on the actual implementation of the digital transformation and explain how incumbents can successfully manage the tensions between the two businesses to realize the maximum digital transformation potential.

Suggested Citation

  • Karolin Frankenberger & Hannah Mayer & Andreas Reiter & Markus Schmidt, 2021. "Digital Transformer’s Dilemma: Innovate Twice to Survive," Springer Books, in: Oliver Gassmann & Fabrizio Ferrandina (ed.), Connected Business, pages 157-173, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-76897-3_9
    DOI: 10.1007/978-3-030-76897-3_9
    as

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