importance of performing digital strategy assignment review for organization to identify new consumer trends.

Question

Task: How can organizations utilize digital strategy assignment research techniques to identify opportunities for expansion in existing and new markets and products?

Answer

Analysis Paper
This digital strategy assignment explores the rapid increase of various digital technologies and the huge amount of data or information which various applications or devices gather each day are driving organizations to transform their business architecture via which they create value.

By analyzing the "Implementing a Digital Strategy: Learning from the Experience of Three Digital Transformation Projects" paper it is identified that digital transformation can help various organizations to create various products as well as services which will be more effective and consistent with the needs of the customers, create related digital ecosystem and provide a shorter process of innovation. Furthermore, digital transformation favours the connection between diverse industries by properly guiding organizations to brand new opportunities to create appropriate value via connectivity and digitalization (Correaniet al., 2020). However, several organizations fail to extract proper value from digital transformation. In this project, the author identifies various failures in the process of digital strategy implementation. According to Alessia (2020), 66 per cent to 84 per cent of digital transformation projects failed, which a fairly large proportion is considering both monetary, costs. There are several reasons why digital transformation projects fail that have been explores on this digital strategy assignment(Correaniet al.,2020). Failure to consider significant change management aspects with customers and employees who are needed to change their way of interacting as well as working with the organization is one of the biggest reasons for digital transformation project failure. Another reason for failure includes poor consistency in the formulation of the digital transformation strategy and implementation of the digital transformation strategy. An organization might fail to digital transform despite adopting an appropriate digital transformation strategy due to disruption in activities, capabilities and processes.

The digital strategy assignment investigations show lack of technology adaptability can affect the future viability of organizations heavily. When an organization does not adapt to changes or current market technologies, it can lead to the extinction of organizational business. The organization will not go extinct overnight. However, this inaction will begin to squeeze the organization’s position in the market towards other organizations which are adapting technology (Correaniet al.,2020). Additionally, the organizations will face various difficulties in sustaining as well as recruiting several talents because skilful employees will look to take their experience to those particular organizations which are thriving in the market. The organizations will face difficulties to get capital, merging or selling the assets which it has had become liabilities. For example, the Kodak organization, pioneered the photographic film market, respectively. When digital technology took over the photo capturing industry, Kodak organization's successful business got fizzled. The organization was forced to reorganize bankruptcy. Lack of technology adaptability also causes organizations to fall from their current position (Correaniet al., 2020). The organizations may not extinct their business, but it can cause a major loss of profit as well as reputation. For example, the Nokia organization, which pioneers in the digital cell phone market, respectively. The digital strategy assignment research also shows that, when the digital technology took over the cell phone industry, the iPhone got a rapid rise which cost the Nokia organization its prominence in the cell phone market.

References
Correani, A., De Massis, A., Frattini, F., Petruzzelli, A. M., &Natalicchio, A. (2020). Implementing a digital strategy: Learning from the experience of three digital transformation projects. California Management Review,digital strategy assignment, 62(4), 37-56.