Digital Strategy: what is it

Digital strategy is probably the hottest topic in strategy today. Everyone from Disney to AT&T, McKinsey, GE, Wells Fargo, etc., is pursuing a digital strategy. Strategy firms have pivoted themselves to become digital savvy by buying analytics firms, advertising shops, and app development boutiques. Yet, it is hard to find a definition of digital strategy anywhere that is consistent and useful. And consulting firms have different definitions. Let's begin by posing a question: What is a digital strategy? Can you answer this question without examples and with an answer that applies to all types of businesses? Since digital strategy is a function like corporate strategy and corporate finance, any definition you use should apply to all situations. If the definition used applies to just a few companies in a handful of situations, it is probably not the best definition. Digital Strategy test Before reading this article, it may be useful to test your understanding and ability in digital strategy. This is a case designed by one of our partners, Michael, and it is used in our case interview and executive coaching programs. The answer will be at the end. The Boston Bugle is a major regional newspaper. It derives 95%…