Dear STR members:STR's Teaching PDW "The Rules and Tools of Digital Strategy" will take place on Tuesday May 10th, 11am ET.Please register here to attend the event:
After registration, you will receive a confirmation email containing information about how to attend.
PDW: The Rules and Tools of Digital Strategy
The confluence of the physical and digital worlds, led by globalization and continuing advances in technology and innovation, has three kinds of businesses – physical, digital, and Internet of Things (IoT). The economics and strategy of the three kinds of businesses are quite different from each other. The PDW is structured around two key themes, the rules and tools of digital strategy. The economic principles ("rules) that underpin digital strategy include, among others, network effects, non-rivalry, and zero marginal cost. The "tools" of digital strategy include digital technologies, like AI, robotics, cloud computing, and data analytics, and digital business models, such as product-as-a-service (PaaS), data monetization, and platforms and ecosystems.
The PDW will explore the following issues:
- How "digital strategy" differs from "strategy".
- Why include digital strategy in strategic management capstone courses.
- What economic principles underpin digital and IoT businesses.
- How digital and IoT businesses create and capture value and establish competitive advantage in both B2C andB2B contexts.
Vinod Jain is an expert in global and digital strategy, award-winning professor, Fulbright Scholar, and author of an MBA textbook on Global Strategy. His next strategy book, Global Meets Digital: Global Strategy for Digital Businesses; Digital Strategy for Global Businesses is to be published by Taylor & Francis later this year. Vinod received his Ph.D. degree in Strategic Management and International Business from the Robert H. Smith School of Business, University of Maryland in 1994 and later taught there from 2005 to2012. At Maryland, he was also the Founding Director of the federally funded Center for International Business Education and Research (CIBER). Vinod has also been a Visiting Associate Professor at the Rutgers Business School, Newark and New Brunswick, and Nottingham University Business School, China. In the past, he worked as a middle- and senior-level executive with American and British multinationals. For more information, please visit: www.vinodjain.com.
Lokesh Kumar, Cofounder, Urgent.ly, Vienna, Virginia, will explore why digital strategy must be a part of a firm's overall strategy. Urgently (urgent.ly) is an advanced, global, roadside assistance platform. Starting out as a B2C business, Urgently pivoted to a B2B model after realizing that B2C was not viable. Lokesh has been involved with the company's digital strategy development and implementation since its founding. Urgently recently received $75 million in VC funding to further disrupt the old line roadside assistance industry.
Sridharan Rangarajan, Vice President –Platform, Viessmann Group, Germany, will explore the issues involved in the successful digital transformation of Viessmann. This required the coming together of multiple technologies in a B2B context: The IoT, digital sensors, real-time data analytics, cloud computing, AI, edge computing, and the common factor, software platforms underlying all of these. The Viessmann Group, a 104-year-old climate solutions company, is in the middle of its digital transformation journey. Headquartered in Germany, with 13,000 employees across 75 countries, Viessmann is transforming itself from a heating systems manufacturer into a climate solutions provider.