Digital transformation certainly opens up challenging scenarios, and by taking full advantage of digital technological innovations, excellent results can be achieved. The purpose of technology is to improve people’s lives by making it easier for them to perform the tasks they face every day.
Everyone in the company, from top management to employees, can see how digital transformation affects their business. You need to establish a strategy that takes into account the strengths, limitations, opportunities and threats that adopting these technologies can bring to your business.
In this JOurnal article we look at how digital transformation can play an important role in the development of start-ups.
THE BENEFITS OF DIGITAL TRANSFORMATION IN THE STARTUP WORLD
According to research conducted by the MIT Center for Digital Business, companies that apply digital transformation are 26% stronger than their competitors and have a 12% higher growth factor. It is therefore of paramount importance for start-ups to use new technologies and be innovative. Here’s how digital transformation can bring more benefits to these companies:
STARTUPS AS ACCELERATORS OF DIGITAL TRANSFORMATION
Startups are playing a key role in the development and innovation of large companies facing digital transformation. Considering the benefits for large organisations, the relationship with startups has progressively started to be considered a priority and has been codified: development of the notion of open innovation, multiplication of initiatives to bring together external actors, acquisition of startups, training of top management, development of tools to measure innovation, implementation of intrapreneurship modules, etc.
Large companies have become aware that their competitiveness depends on their ability to find new growth drivers through closer relationships with innovative players capable of challenging their internal assets which physiologically might settle for the status quo.
THE DIGITAL TRANSFORMATION: CHALLENGES FOR STARTUPS
Nowadays, more than ever, start-ups must be ready for any kind of change and accept any new challenge. Let’s take a look at the key aspects they should take into account in order to succeed:
Digital transformation involves all companies and even more so the world of startups, which are increasingly the drivers that stimulate and drive large organisations to change and embrace the opportunities of the technological revolution in a win-win approach.