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The Digital Paradigm

In: Open and Digital Ecosystems

Author

Listed:
  • Daniel Fasnacht

    (University of Zurich)

Abstract

Is creative destruction a dystopia or an opportunity? The lives of most people are already dominated by digital aspects such as data, artificial intelligence, networking, platforms, and digital customer interactions. Digital transformation is a process that has long since begun, and yet there are still companies that have not adapted their business models to the new reality. To be successful in the future, companies must understand the triggers and characteristics of digital transformation and learn to deal with discontinuities. The financial sector has had a lost decade, but other sectors have been able to benefit from disruptive technologies and build successful ecosystems. Digital innovations have a high strategic value, and disruption becomes an opportunity when companies adapt to the new competitive rules and engage with industry-unrelated and agile startups. The digital paradigm is modular and open to all who can contribute to customer value and the common good.

Suggested Citation

  • Daniel Fasnacht, 2024. "The Digital Paradigm," Springer Books, in: Open and Digital Ecosystems, chapter 0, pages 19-49, Springer.
    • Handle: RePEc:spr:sprchp:978-3-658-45395-4_2
    DOI: 10.1007/978-3-658-45395-4_2
    as

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