Digital Innovation and Transformation to Business Ecosystems

Abstract

Digital technologies have been penetrating every aspect of business. Such pervasive deployment of digital technologies enables organisations to reinvent themselves in defining and conducting business. Leveraging the value of information as the key resource, through digital innovation such as digitisation and servitisation of products and services, becomes necessary for a business to survive and to remain competitive. Business ecosystems of the organisations and their partners have been formed through digital connectivity and digital platform which offer clearly strategic advantages and competitiveness. Interconnectivities between entities in the ecosystem are realised through multiple flows such as goods, finance and information. For a business organisation to gain competitive advantages, a successful transformation of the organisation in many dimensions are essential to allow value co-creation with other members in the ecosystem. These dimensions include mindset, culture, values, leadership, structure, process and IT systems. This keynote will discuss the notions of digital innovation and transformation, and the prerequisites and readiness for the transformation towards business ecosystems. By examining the current practice of successful examples, key findings will lead to the principles and models of organisational transformation for value co-creation and optimising benefits in the business ecosystems. This keynote will hopefully inspire practitioners and researchers to benefit from existing theoretical lenses and methods, and to derive their own guidelines and models to support organisations in digital transformation.