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Digital transformation is a strategic business initiative enabled by digital technologies that aims to maximize business outcomes. This blog post introduces an iterative approach to digital transformation – the Digital Transformation Flywheel – that can be used to help guide and accelerate the business transformation of large scale enterprises. Selected examples from our collaboration with Stellantis [see Amazon Press Release, 2022] demonstrate how this framework helps enable the transformation of Stellantis towards a more data-driven and software-focused mobility company [see Stellantis Dare Forward 2023 Plan, 2024].
Generally, an organization’s need for digital transformation is underpinned by one or more compelling events. For example, a company may seek to 1/ drive year-over-year revenue growth, 2/ optimize its business portfolio for change velocity or industry pressure, 3/ reinvent its business and operating model [see e.g. HBR Article, 2023] by adding new digital products and services [see e.g. HBR Article, 2008], or 4/ increase business agility and speed to accelerate product development. A crucial key to success on this path is the executive vision of the company’s leadership that provides the guardrails for the long-term transformation strategy and forms the business case for digital transformation supported by a top-down executive mandate.