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Digitization is breaking down industry barriers and creating a plethora of new opportunities, but it's also destabilizing traditional business models. It's time for companies to reevaluate their positions in the digital economy and start creating new business options for the future.
Based on recent research, the MIT Center for Institutional Research (CISR) has identified two important dimensions for enterprises to consider: 1) whether they want to control the value chain or be part of a more complex ecosystem and 2) how much to invest in knowing their end customers. The combination of moving from value chains to ecosystems and increasing knowledge of consumers provides business leaders with four distinct business models to thrive in the digital economy, according to CISR researchers. The four models they can choose to operate as are (1) a supplier, (2) an omnichannel business, (3) an ecosystem driver or (4) a modular producer.
Do your thoughts on the digital economy align with those presented by MIT CISR? Do you think these four models will prove successful?
Join SearchCIO Wednesday, April 27 at 3 p.m. EST to talk about MIT CISR's four models. Discussion will also include what it takes to be an ecosystem driver, the state of value chains and challenges that IT executives face in today's digital economy.
Joining SearchCIO editors and followers as our guest expert will be Stephanie Woerner (@SL_Woerner), research scientist at MIT's CISR.
Date: Wednesday, April 27, 2016
Time: 3 p.m. EST
Hashtag: Use and follow #CIOChat
Tweet chat newbies -- and #CIOChat vets, too -- please review this list of tips before participating in the chat:
- To follow the conversation, type "#CIOChat" into Twitter's search bar. From this page, select "Live" to view tweets in real time.
- Your first #CIOChat tweet should be introductory, including your name, title and organization.
- @SearchCIO will ask a series of questions related to MIT CISR's research on the digital economy starting at 3 p.m. EST -- Q1, Q2, etc. In your tweeted responses to each question, please preface with A1 (Answer 1), A2 and so on. Then, remember to include "#CIOChat." Include this hashtag in every tweet during the chat.
- Please note that Twitter allows only 140 characters per tweet. You are welcome to tweet multiple responses to each question.
- Throughout the discussion, retweet (RT) and "like" tweets you agree with and reply to any as you see fit.
Please direct questions, RSVPs or other concerns to our editors. Talk to you on Twitter.
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