[Published on LinkedIn]
In the last decades it has been part of the corporate mindset to define a digital strategy, understood as a digital bible containing e.g. digital trends, current company situation and challenges, vision, milestones/roadmap, strategic focus areas etc.
The content in this traditional digital strategy has varied depending on which corporate unit has been the leading digital party, e.g. Marketing, Sales or IT.
However, it seems like more and more corporations skip the traditional digital strategy approach these days – roughly, I hear about following trends:
- In some cases attempts have been made to merge the digital direction into the overall corporate strategy, from where it is expected to be coordinated and executed by all corporate units
- In other cases the format of the traditional corporate strategy is maintained and a underlying digital roadmap represents the CDO’s interpretation of the overall strategy
- And then, increasingly, there is an attempt to avoid having predefined digital directions or actions described. Instead these corporations strive to react intuitively on market trends and conditions, moving quickly from thought to action, without any attempt to build internal consensus
I agree that the corporate digital strategy – in the biblical format – often is outdated before it’s first activity gets executed and therefore can be seen as a complete waste.
However, it is my experience that although the corporate digital strategy tends to dilute itself when it comes to timing, it still serves as an important internal lighthouse – in regard to internal alignment, agreeing on digital related priorities and investments etc. The extensive effort to develop, align and approve a digital strategy creates a common language and mutually understanding of how and when to act.
What is your take on the corporate digital strategy? Is it dead or alive?