Strategy in the Digital Age
Mastering Digital Transformation
Michael Lenox


Contents and Abstracts
1 Rise of the Digital Age
chapter abstract

In Chapter 1, we introduce the underlying drivers of digital disruption and transformation. We discuss the primacy of data and the role of analytics in creating aggregate value. We explore the complementarities between prediction and judgment. Last, we introduce the Strategist's Challenge as an overarching framework to think about strategy in the digital age.

2 Platforms in the Digital Age
chapter abstract

In Chapter 2, we focus on platforms—a ubiquitous feature of the digital world. We introduce the concepts of network externalities, enabling technologies, and winner-take-all markets. We discuss how organizations fight to establish dominant platforms and how the Competitive Life Cycle typically plays out as an industry evolves.

3 Competing in the Digital Age
chapter abstract

In Chapter 3, we further unpack competing in the digital age. We highlight how platforms deconstruct the value chain, opening new opportunities for value creation and capture. We discuss various common competitive positions in digital markets and how to leverage the Competitive Life Cycle to innovate and build new sources of competitive advantage.

4 Appropriating in the Digital Age
chapter abstract

In Chapter 4, we analyze appropriability—how to capture value from your efforts. We explore the new forms of value creation and business models catalyzed by digital transformation. We discuss the evolving role of intellectual property and the importance of complementary assets. We return to our Strategist's Challenge and explore how to best position your organization to create and capture value.

5 Leading in the Digital Age
chapter abstract

In Chapter 5, we focus on leading and managing in the digital age. We introduce the Digital Transformation Stack and discuss how to build out your digital infrastructure and how to recruit digital champions. Equally important, we explore how to build an agile organization, driving towards growth while remaining a humble leader.

6 Policy in the Digital Age
chapter abstract

In Chapter 6, we deepen this discussion by focusing on the myriad of policy issues that are arising in the digital age. We take a managerial perspective, discussing the strategic approaches firms may adopt to address the broad array of market and nonmarket forces that have an impact on businesses in the digital age, ending with a discussion of the importance of values-driven leadership.

7 Transforming in the Digital Age
chapter abstract

In Chapter 7, we discuss the transformative potential of digital technology, not only to create business opportunities, but to address pressing societal challenges. We discuss some emerging digital trends and, most important, provide a comprehensive roadmap for mastering your digital transformation.