The digital economy has already firmly entered our life and it includes not only IT companies, but all industries and management of regions and states. In the changed conditions, we can talk about the anomalies of the digital economy, phenomena that defy description from the standpoint of the theory of economics and the science of management. However, it is in these conditions that it is necessary to build market relations for all companies, to switch to high- quality interaction. Features of leadership and achievement of strategic goals in these conditions are discussed in the article
digitalization, digital economy anomalies, strategic leadership, hybrid competencies
The level of digital development of a company, that is, its ability to create value using digital technologies, serves as a key predictor for assessing the chances of success for digital transformation. Digitally evolved companies demonstrate competitive advantage on a number of metrics, including revenue growth, time-to-market, cost efficiency, product quality, and customer satisfaction. Companies with low levels of digitalization are failing to reap these benefits. As digital technology increasingly contributes to business performance, the gap between digital leaders and laggards is likely to only widen.
Only 33% of organizations successfully deal with digital disruption. Those who do this tend to make large strategic bets — on the order of 10% of their market capitalization.
A digital strategy roadmap provides powerful digital business strategy capabilities and helps you improve strategic planning to better understand how to incorporate new technologies into business strategy and operations. Before digital transformation begins, companies can use dedicated criteria to compare their digital metrics across 36 categories, such as customer journey, digital supply chain, and marketing personalization. The value of this early benchmarking experience exponentially increases during the digital transformation itself, as organizations begin to track current results to understand where they are gaining momentum and where they are lagging.
As international practice shows, the success of a digital product implementation depends by 80% on the readiness and ability of a business to transform. Hence the idea was born to combine the best available technology solutions with world-class management and transformation expertise. Digital transformation projects implemented according to this methodology will be able to provide plus 10-20%. Among the tasks, it is important to note the development of digital solutions based on artificial intelligence, BIG DATA, advanced analytics and the Internet of things for the mining and metallurgical and potentially other sectors of the heavy industry. These are digital advisors, optimizers of technological modes, predictive systems, as well as the creation of complex solutions of the "digital twin of an asset" class.
How to create a digital strategy roadmap? The digital strategy model must provide the necessary rigor at every stage. The digital strategy roadmap provides five key outcomes that answer key questions:
- Digital vision. How is digital technology changing your industry? What new offerings, operating models, and business models could it include? What new competitors might this provide opportunities?
- Assessment of competitive advantages. How does digital technology affect competitive advantage? Where are we in an advantageous position? Where are we at a disadvantage?
- Priority list of digital bets. Which digital opportunities match your value-based business strategy, as well as your ambitions and capabilities? In what order should you chase them?
- Gap analysis. Based on your bets, what are the capacity, organization and system gaps you need to fill in order to win?
- Roadmap for reforms. What are the time frames, goals and responsibilities for each of your programs? What steps are required to finance a trip?
All of the above strategies must be applied taking into account modern features. manifested by the digital economy, which can be classified as anomalies. (L.V. Lapidus 2020.)
Anomalies in the digital economy include phenomena that:
1.cannot be explained by economics and management science
2. difficult to calculate, describe and predict
3. become noticeable with great delay. when the leading players are already threatened with the loss of strategic stability
These anomalies include:
1. The speed of reaching a record level of capitalization of companies. The so-called "unicorn startups" have reached a capitalization level of $ 1 billion or more in less than 7 years. An example is Airbnb, which has a capitalization of $ 30 billion, YouTube which was bought by Google for $ 1.65 billion 9 months after its inception.
2. Correlation of the company's capitalization from new factors. These factors now include - the number of visits, the creation of communities, the number and cost of leads, the rate of increase in visits.
3. The transition to a sharing economy has turned the pyramid of profitability. Avoiding the need to own expensive property (house, apartment, car) significantly and unpredictably changes the consumption market.
4. High viability of the companies with the "Divesting of Assets" business model.
The prominent representatives of this direction are Airbnb, Uber, BlaBlaCar. Companies provide users only with a platform for information exchange and at the same time have a high capitalization and IPO. For companies from other industries using similar business models, a new term "Uberization" has appeared.
5. Abnormal behavior of financial bubbles with a digital nature.
Digital currencies issued and maintained using blockchain can change the way individuals and organizations exchange value, eliminating the need for costly payment intermediaries, providing greater price stability and reducing counterparty risks. A digital dollar, euro, or other digital tender could democratize access to financial systems, making it easier for "nonbank" populations in poor or remote regions to buy, sell, save and invest more easily than before.
Digital currencies could help solve these problems. Blockchain technologies prevent data changes and provide payment authentication. Transactions can be correlated in near real time and stakeholders can view the entire transaction route. These opportunities mean that blockchain-based currencies can supplant intermediaries such as brokers, settlement agencies and notaries who provide independent third-party verification. Blockchain can also minimize the need for market arbiters, price reporting agencies, benchmark data providers, and others whose businesses create value by capitalizing on information asymmetries.
Digital currencies are poised to revolutionize our financial infrastructure over the next five years. Participants in the financial system should use this time to analyze potential consequences, prepare for possible disruptions, and begin to actively explore what role they want to play and what partnerships they need to establish in order to maximize the value of digital currencies and influence the direction of their development.
1. Analytical research Hays and Oxford Economics. The Hays Global Skills Index dated 2021 [Electronic resource] URL: https://hays.ru/wp-content/uploads/Hays-global-skills-index_23.09.pdf (appeal date: 23.02.2020)
2. Be ready for the future of money [Electronic resource] URL https://www.bcg.com/ru-ru/publications/2020/get-ready-for-the-future-of-money (appeal date: 10.09.2021)
3. Digital strategy roadmap [Electronic resource] URL https://www.bcg.com/ru-ru/industries/education/primary-secondary-education (appeal date: 10.09.2021)
4. Assess digital maturity to improve performance [Electronic resource] URL https://www.bcg.com/ru-ru/capabilities/people-strategy/talent-development (appeal date: 10.09.2021)
5. BCG Upskilling Bootcamp accelerates your digital future [Electronic resource] URL https://www.bcg.com/capabilities/people-strategy/upskilling-virtual-bootcamp (appeal date: 10.09.2021)
6. Lapidus L.V. Evolution of the digital economy. Lomonosov Readings-2018. Section of Economic Sciences. Digital economy: people, technologies, institutions: a collection of theses of speeches. - M.: Faculty of Economics, Lomonosov Moscow State University, 2019. P. 153-158.
