Digital Strategies and Competitive Advantage: A McKinsey Analysis

This essay examines the significance of digital strategies in today's business environment, drawing insights from a McKinsey Quarterly article. It highlights how digital strategies are reshaping economic fundamentals and industry dynamics, particularly through the use of smartphones and artificial intelligence. The essay discusses the potential of digital ecosystems to generate revenue and blur industry boundaries, while also addressing the disruptive nature of digital solutions and the importance of strategic vision for companies. It recommends a clearer demarcation between the positive and negative aspects of digital strategies to enhance reader understanding. Desklib provides access to this and many other solved assignments for students.

Running head: DIGITAL STRATEGIES
Digital Strategies
Name of the student
Name of the University
Author note

1DIGITAL STRATEGIES
Digital strategies in the present age are changing the economic fundamentals along
with the industry dynamics. The smart phones in the present age helps in connecting the
human population. The smartphones have emerged to become an integral part in the lives of
the human beings. The essay discusses about the significance of digital strategies that helped
in developing followers that can help a business in getting a competitive advantage. The
essay also talks about how the platforms would help the digital players in moving across the
industry and how the digital strategies can meet the need of fast delivery in the modern age.
The central message of article is that digitisation can help an organization in
providing the greatest consumer experience and at a cost that is lower. The article has talked
about the fact that best organizations can reach a large customer base by making use of the
artificial intelligence that can help in providing exquisite level of the service (Bughin et al.
2018). The article has talked about the fact that the business models that seem to be
improbable can become reality with the help of digital solutions.
The primary content of the article revolves around the fact that digital ecosystem can
help a company in earning revenues and it can help in making the industry boundaries
disappear. The main focus of the article is in the fact that it can help in the redefinition of the
traditional markets and it has opened the avenue for the cross-functional products along with
the services. Digital technology helps the companies in getting large volume of the customer
data that can help organizations in identification of threats.
The supportive content of the article is regarding whether the digital solutions are
proving to be disruptive in the present age. The article has pointed out to the fact that pace of
the disruption can be said to be uneven that compels the companies to think about a strategy.
The article has stated how it is important for the companies to develop better vision so that it
can help them in perceiving the threats and bring about changes in the company. It has talked
about the cross-cultural currents that should be thought about by the companies that can help
them in dealing with the challenges in relation to digitization.
The digital strategies can change economic fundamentals of the present age.
Smartphones can connect human population in modern age and digitisation can prove to be a
great step that can help in providing good consumer experience at that of a low cost. Digital
ecosystem can act as a helpful means which can help the companies in making profits. It can
help in disappearing the boundaries that exist among industries. Digital solutions on the other
hand also acts in a disruptive manner in recent age. Pace pertaining to disruption is uneven
which makes companies of thinking about strategies. It can be recommended that there
should be a clear demarcation in between the positive aspects and the negative aspects of the
digital strategies that can help in making the content clear in front of the readers.

2DIGITAL STRATEGIES
References
Bughin, J., Catlin, T., Hirt, M. and Willmott, P., 2018. Why digital strategies fail. McKinsey
Quarterly.

3DIGITAL STRATEGIES