Strategic Management in the Digital Era

Chapter 1 defines digital strategy and introduces the digital strategy framework. This chapter describes developing an overall digital strategy using traditional strategy frameworks. It outlines various frameworks in strategic management, including Porter’s Five Forces, Barney’s value, rarity, imitability, and organisation (VRIO), and Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis. By the end of this chapter, readers will understand the steps in a strategy development process. The chapter also discusses how digital technology impacts strategy-making and how planning cycles have shrunk. Finally, the chapter describes the increasing role of digital tools in strategic planning.