Introduction to Digital Strategies

This chapter introduces digital strategy and its components. Digital strategy is a strategy enabled by Digital Technologies. The chapter is designed to help readers understand the concepts of digital strategy and transformation and how digital transformation is the current of a series of waves of industry transformation. This chapter defines digital strategy and its key elements—Product, Process, Organisation (People), and Business Model. We also discuss the key enablers that make this wave of industry transformation unique—Data and Digital Technologies. We also clarify terms, such as digitisation, digitalisation, and digital transformation, and explain why they are different even though they are used interchangeably. We then dive deep into the internal and external drivers for digital transformation. Finally, the chapter introduces the concept of digital maturity and the typical five maturity levels.