Digital Business Models
As the business world continues to digitize virtually every enterprise needs a digital business model. A digital business model describes how your enterprise will interact digitally with its customers and generate revenue. However, a great digital business model will often challenge the status quo in the enterprise. We have created a framework to help enterprises determine how they should compete digitally with three capabilities: the content, the experience and the platform. We illustrate the framework with companies with successful digital business models including Amazon, Apple, Bloomberg, Commonwealth Bank of Australia, Google and USAA. To close we ask which are the most important capabilities for your digital business model and how will this influence your investment and capability building estrategies.
Chairman, Center for Information Systems Research (CISR) & MIT Sloan Senior Research Scientist
Peter’s work centers on the role, value and governance of digitization in enterprises. Peter joined the Sloan faculty in 2000 to become director of MIT Sloan’s Center for Information Systems Research (CISR). MIT CISR is funded by eighty corporate sponsors and patrons, and undertakes practical research on how firms generate business value from IT. Peter is now Chairman of MIT CISR and focused on globalizing MIT CISR research and delivery.
In 2008 Ziff-Davis recognized Peter as # 24 of “Top 100 Most Influential People in IT” and the highest ranked academic. Peter has written award-winning books, journal articles, and case studies. His work has appeared in Harvard Business Review, Sloan Management Review and the Wall Street Journal.