From Insights to Business Model Innovation and Results: Using the Digital Transformation Canvas

Authors

  • Riccardo Silvi University of Bologna
  • Christian Nielsen University of Bologna
  • Andrea Pia AKQA

Abstract

Digital transformation is the process that a company must undertake to connect its operational model with all stakeholders to respond to ongoing market effective changes in technological trends and to create the conditions for anticipating future trends. This article introduces and explains the digital transformation canvas’s components and tools, intending to provide a starting point for developing a digital transformation strategy and a plan of action to achieve this.

References

Accenture (2023), Total Enterprise Reinvention, https://www.accenture.com/content/dam/accenture/final/ accenture-com/document/Accenture-Total-Enterprise-Reinvention.pdf#zoom=40

Adner, R. (2017). Ecosystem as structure: An actionable construct for strategy. Journal of Management, 43(1), 39-58.

Ahokangas, P. (2023), Hexa-X/6G as a general technology platform for business model innovation, Journal of Business Models, Vol. 11, No. 3, pp. 51-56

Bartolini M., Gardini S., Silvi R. (2017) Digital Accounting through the Lens of Intellectual Capital Studies, 13th EIASM Interdisciplinary Workshop on Intangible and Intellectual Capital, Value Creation, Integrated Reporting and Governance, Università Politecnica delle Marche.

Bartolini M., Silvi R. (2020), Il capitale digitale intellettuale come asset strategico per la creazione di valore, in: Liber Amicorum per Antonio Matacena, Milano, FrancoAngeli.

Bi, Z., & Cochran, D. (2014). Big data analytics with applications. Journal of Management Analytics, 1(4), 249- 265.

Bland D.J., Osterwalder A. (2020), Testing Business ideas, Wiley.

Boston Consulting Group (2020) Flipping the Odds of Digital Transformation Success, https://web-assets. bcg.com/c7/20/907821344bbb8ade98cbe10fc2b8/bcg-flipping-the-odds-of-digital-transformation-success- oct-2020.pdf

Bradley J., L. James, J. Macaulay, A. Noronha, M. Wade, 2015, Digital Vortex. How Digital Disruption Is Redefining Industries, Global Center for Digital Business Transformation

Business Ecosystem. John Wiley & Sons, Ltd.

Catlin, T., Scanlan, J., Willmott, P. (2015). Raising your Digital Quotient. McKinsey Quarterly, June.

Cisco (2013) The Internet of Everything, https://www.cisco.com/c/dam/en_us/about/ac79/docs/innov/IoE_ Economy_FAQ.pdf

Curran, D. (2018). Risk, innovation, and democracy in the digital economy. European journal of social theory, 21(2), 207-226.

DaSilva CM, Trkman P, Desouza K, Lindič J (2013) Disruptive technologies: a business model perspective on cloud computing. Technol Anal Strateg Manag 25:1161–1173

Davenport, T. H., & Westerman, G. (2018). Why so many high-profile digital transformations fail. Harvard Business Review, 9(4), 15.

Davenport, T.H., Harris, J.G., De Long, D.W., Jacobson, A. (2001). Data to Knowledge to Results: Building and Analytic Capability. California Management Review, 43(2), 117- 138.

Everest (2019) Why Digital Transformations Fail: 3 Exhausting Reasons, https://www.everestgrp.com/2019- 08-why-digital-transformations-fail-3-exhausting-reasons-blog-51164.html

Everest (2021), 68% of Enterprises Fail to Achieve Desired ROI on Digital Transformation, and Most Cite Change Resistance as Key Obstacle, https://www.everestgrp.com/2021-05-https-www-everestgrp-com- 2021-05-68-of-enterprises-fail-to-achieve-desired-roi-on-digital-transformation-and-most-cite-change- resistance-as-key-obstacle-press-release-html-.html

Foss, N. (2023), Organisational design issues and the proper dimensionalisation of business model innovation, Journal of Business Models, Vol. 11, No. 3, pp. 13-17

Gassmann, O., Frankenberger, K., & Csik, M. (2014). The business model navigator: 55 models that will revolutionise your business (1st ed.). Upper Saddle River, NJ: FT Press.

Geissbauer, R., Vedso, J., Schrauf, S. (2015). Global Digital IQ Survey. PwC. https://www.pwc.com/gx/en/indus- tries/industries-4.0/landing-page/industry-4.0- building-your-digital-enterprise-april-2016.pdf. Accessed 12 October 2020.

Guo, X., M. Li, Y. Wang & A Mardani (2023), Does digital transformation improve the firm’s performance? From the perspective of digitalization paradox and managerial myopia, Journal of Business Research, Vol. 163, 113868

Haefner, N. and O. Gassmann (2023), Generative AI and AI-Based Business Model Innovation, Journal of Business Models, Vol. 11, No. 3, pp. 46-50

Harvard Business Review Analytic Service (2021), Making the Leap to a Digital-First Enterprise, https://info. amplitude.com/rs/138-CDN-550/images/HBR-Amplitude-Making-The-Leap-To-A-Digital-First-Enterprise. pdf

Heredia, J., M. Castillo-Vergara, C. Geldes, F.M. Carbajal Gamarra, A. Flores, W. Heredia (2022), How do digital capabilities affect firm performance? The mediating role of technological capabilities in the “new normal”, Journal of Innovation & Knowledge, Vol. 7, No. 2, 100171,

Hess, T., Matt, C., Benlian, A., & Wiesböck, F. (2016). Options for formulating a digital transformation strategy. MIS Quarterly Executive, 15(2).

Jacobides, M. G., Cennamo, C., & Gawer, A. (2018). Towards a theory of ecosystems. Strategic Management Journal, 39(8), 2255-2276.

Johnson, M. W. (2010). A new framework for business models. Harvard Business Review, (01).

Kane, G., D. Palmer, A. Phillips, D. Kiron, N. Buckley, 2015. Strategy, Not Technology Drives Digital Transformation, MIT Sloan Management Review and Deloitte University Press, July 2015. Available online at http://sloan- review.mit.edu/ projects/strategy- drives-digital-transformation/

Khezri, B. (2022), Governing Continuous Transformation. Re-framing the Strategy-Governance Conversation, Springer.

Lingens B., Seeholzer V., Gassmann O. (2023), Journey to the Big Bang: How firms define new value propositions in emerging ecosystems, Journal of Engineering and Technology Management, Volume 69.

Lingens, B. (2023), How ecosystem management will influence business model innovation: Bridging the gap between theory and practice, Journal of Business Models, Vol. 11, No. 3, pp. 97-104

Magnusson, J., Elliot, V. and Hagberg, J. (2022), ”Digital transformation: why companies resist what they need for sustained performance”, Journal of Business Strategy, Vol. 43 No. 5, pp. 316-322.

McKinsey (2013), Disruptive technologies: Advances that will transform life, business, and the global economy, McKinsey Global Institute (MGI).

McKinsey (2015), The Internet of Things: Mapping the Value Beyond the Hype, McKinsey Global Institute (MGI)

McKinsey (2019) Why do most transformations fail? A conversation with Harry Robinson, https://www.mckinsey. com/~/media/McKinsey/Business%20Functions/Transformation/Our%20Insights/Why%20do%20most%20 transformations%20fail%20A%20conversation%20with%20Harry%20Robinson/Why-do-most-transformations-fail-a-conversation-with-Harry-Robinson.pdf

McKinsey (2022), Common pitfalls in transformations: A conversation with Jon Garcia, https://www.mckinsey. com/~/media/mckinsey/business%20functions/transformation/our%20insights/common%20pitfalls%20 in%20transformations%20a%20conversation%20with%20jon%20garcia/common-pitfalls-in-transformations-a-conversation-with-jon-garcia.pdf?shouldIndex=false

McKinsey 2018, Unlocking success in digital transformations, October, https://www.mckinsey.com/~/media/ mckinsey/business%20functions/people%20and%20organizational%20performance/our%20insights/un- locking%20success%20in%20digital%20transformations/unlocking-success-in-digital-transformations. pdf?shouldIndex=false

McKinsey 2018, Why Digital Strategies Fail, McKinsey Quarterly, January, https://www.mckinsey.com/cn/~/ media/McKinsey/Business%20Functions/McKinsey%20Digital/Our%20Insights/Why%20digital%20strate- gies%20fail/Why-digital-strategies-fail.pdf

Montemari, M., Chiucchi, M. S., Nielsen, C. (2019), Designing Performance Measurement Systems Using Business Models, Journal of Business Models, Vol. 7, No. 5, pp. 48-69.

Moore, J.F. (1996). The Death of Competition: Leadership and Strategy in the Age of

Mordor Intelligence (2023)The Digital Transformation in Manufacturing Market Size https://www.mordorintel- ligence.com/industry-reports/digital-transformation-market-in-manufacturing.

Nachira, F. (2002). Towards a Network of Digital Business Ecosystems Fostering the Local Development. European Commission Discussion Paper.

Nadkarni, S., & Prügl, R. (2021). Digital transformation: a review, synthesis and opportunities for future re- search. Management Review Quarterly, 71, 233-341.

Nielsen, C. (2023), How Regulation Affects Business Model Innovation, Journal of Business Models, Vol. 11, No. 3, pp. 105-116.

Nielsen, C., M. Lund & P. Thomsen (2017), Killing the balanced scorecard to improve internal disclosure, Journal of Intellectual Capital, Vol. 18, No. 1, pp. 45-62.

Orlova A., Nogueira R., Chimenti P. (2020), The Present and Future of the Space Sector: A Business Ecosystem Approach, Space Policy, Volume 52

Peng, Y., & C. Tao (2022), Can digital transformation promote enterprise performance? —From the perspective of public policy and innovation, Journal of Innovation & Knowledge, Vol. 7, No. 3, 100198,

Ramesh, N., & Delen, D. (2021). Digital transformation: How to beat the 90% failure rate?. IEEE engineering management review, 49(3), 22-25.

Ricart, J.E. (2023), Business Model Innovation as the new strategy arena, Journal of Business Models, Vol. 11, No. 3, pp. 18-23

Rosenstand, C.A.F., J. Brix & C. Nielsen (2023), Metaverse and Society 5.0: Pivotal for future business model innovation, Journal of Business Models, Vol. 11, No. 3, pp. 62-76

Saldanha, T. (2019). Why digital transformations fail: The surprising disciplines of how to take off and stay ahead. Berrett-Koehler Publishers.

Schwab, K. (2017). The Fourth Industrial Revolution. Penguin Books Ltd.

Schwertner, K. (2017). Digital transformation of business. Trakia Journal of Sciences, 15(1), 388-393.

Tsujimoto M., Kajikawa Y., Tomita J., Matsumoto Y. (2018), A review of the ecosystem concept — Towards coherent ecosystem design, Technological Forecasting and Social Change, Volume 136.

Vial, G. (2021). Understanding digital transformation: A review and a research agenda. Managing Digital Transformation, 13-66.

Published

17-11-2023

Issue

Section

Special issue: The Future of Business Model Innovation, Core Themes and Pivotal Technologies