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Anand Swaminathan - Digital @ Scale: The Playbook You Need to Transform Your Company

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Anand Swaminathan Digital @ Scale: The Playbook You Need to Transform Your Company

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A blueprint for reinventing the core of your business

Value in the next phase of the digital era will go to those companies that dont just try digital but also scale it. Digital@Scale examines what it takes for companies to break through the gravitational pull of their legacy organizations and capture the full value of digital. Digging into more than fifty detailed case studies and years of McKinsey experience and data, the authors, along with a group of expert contributors, show how companies can move beyond incremental change to transform the business where the greatest value is generatedat its core. The authors provide practical insights into the three pillars of digital transformations that successfully scale: reinventing the business model, building out a business architecture from the customer back into the organization, and establishing an amoeba IT and organizational foundation that learns and evolves. This is the ideal guide for all leaders who recognize the power and promise of a digital transformation.

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Cover Design Lisa Campabadal and Paolo Donato Copyright 2017 by McKinsey - photo 1

Cover Design: Lisa Campabadal and Paolo Donato

Copyright 2017 by McKinsey & Company, Inc. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 7508400, fax (978) 6468600, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 7486011, fax (201) 7486008, or online at www.wiley.com/go/permissions.

Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

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ISBN 978-1-119-43374-3 (Hardcover)
ISBN 978-1-119-43376-7 (ePDF)
ISBN 978-1-119-43377-4 (ePub)

PREAMBLE: THINKING DIGITAL

THE DIGITAL REVOLUTION is here, and no industry is immune from its impact. The good news: all companiesbig or smallcan benefit. German booksellers have grasped their opportunity against a seemingly unassailable opponent.

For 550 years, everything was fine: Ever since Johannes Gutenberg founded printing with movable letters in 1450, the retail book industry largely remained unchanged. The print shop produced the books and delivered them to the store; customers visited the store, browsed through the selection, and bought their reading material. With the dawn of the new millennium, however, a new upstart turned all the rules upside down. It wasnt enough that the online retailer Amazon grew to become the largest bookseller around the world; with its Kindle device, it introduced a reader for electronic books that quickly became popular.

Pure fear gripped booksellers and the management of big bookstore chains throughout the world. They were faced with a disruptive technology and revolutionary change that was upending the old business model. Digitization had reached their industry, and if they werent to be ejected from the market like photography specialist Kodak years earlier, or like mail-order catalog retailers, as well as several travel agencies and newspapers, then something had to be done. Large bookstore chains like Borders in the United States and Waterstones in England had already fallen victim to the Amazon infiltration: they ignored the threat for too long, and then reacted too slowly and halfheartedly.

But it was a crisis with a happy ending for German booksellers. Faced with the pressure of rapid change, the bookstore chains Thalia with Michael Busch, Hugendubel with Maximilian Hugendubel, and Weltbild with Carel Halff, as well as the book clubs of media giant Bertelsmann with Niklas Darijtschuk, had a meeting. According to coinitiator Michael Busch, CEO of Thalia: We needed to establish strong marketing power in the German-speaking area. And since Thalia as well as Hugendubel and Weltbild had been unable to successfully market their own electronic readers in previous attempts, the book retailers now sought the services of Deutsche Telekom as a technology partner. We wanted to build a value chain in which all partners were playing at Champions League level, according to Busch. Together, they developed the Tolino e-reader as a rival to Amazons Kindle, created a Tolino app for mobile devices, and invested in an Internet campaign to market the electronic offering.

WHY WHAT AND HOW THE KEY QUESTIONS BEFORE ANY DIGITAL TRANSFORMATION The - photo 2
WHY, WHAT, AND HOW? THE KEY QUESTIONS BEFORE ANY DIGITAL TRANSFORMATION

The book retailers and Deutsche Telekom followed a strict strategy based on the overriding sense of urgency that the retailers needed to understand precisely why they needed to act. That is, if they didnt tackle the challenge of digitization, their core business would be threatened. Fear spurs you on, as Michael Busch puts it.

So what was to be done? The partners needed a concept to conquer the e-reader and e-book market with the ambitious aim of becoming market leaders. And since customers in the digital world wanted stable and above all, simple processes, Tolino needed to offer a customer experience similar to Apple: that is, intuitive to grasp and with an animated and captivating customer journey across all contact points from first contact to purchase.

How could Tolino meet these ambitious targets? The way not to do it quickly became clear: with existing corporate structures, large committees, and elaborate meeting agendas. Instead, a small core team was given extensive authority and decision-making powers. The most important developments were started at the same time and were based on a two-speed information technology (IT) architecture. A traditional IT structure ensured the stability of all the usual processes and the integrity of important data, while another group was organized in the manner of a start-up company, allowing fast and flexible processing of the many tests, learning steps, and corrections that digital product innovations inevitably entail. Deutsche Telekom, meanwhile, designed the hardware, the actual e-reader. At the market launch in 2013, an advertising campaign ran across all digital channels, focusing on television and social media.

Who would have bet on the success of Tolino? In one corner, a group of traditional medium-sized companies and a former state-owned company, and in the other corner, one of the leading global success stories of the digital age. Everything pointed to Amazon. However, the smart approach of the latecomers paid off. In 2015, Tolino pulled level with Amazon in Germany with a market share of between 40 and 45 percent, depending on the counting method.

The key to its success was a specific advantage that traditional retailers have: bricks and mortar. They were able to combine their high-street stores and their online business into an omnichannel concept with 60 million people in Germany visiting a bookstore each year. And since the Tolino partners consistently aligned their marketing mix across all channels, they secured a structural competitive advantage over Amazon: the Americans still had no physical presence in Germany. The Tolino campaign also brought new customers into the brick-and-mortar stores. Naturally, we sold most of our e-readers in our bookstores, says Michael Busch. This was a major success, but not grounds for relaxing. The battle for superiority is far from decided: market and customer needs are still developing, placing high demands on agility and innovation.

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