PA digital transformation expert, Claus Høyer Madsen, is quoted in an article in Finans.dk. The article looks at how companies should handle disruption and digital transformation to maintain growth and remain competitive.
According to The Confederation of Danish Industry, all organisations, regardless of sectors and services, will need to focus on transforming their digital platforms, to streamline their IT systems and convert their business into new business models.
Claus says: “Companies tend to focus on existing products and the development within their own line of business. However, only focusing on your own competitors is dangerous as disruption often comes from outsiders with entirely different business models.”
Organisations therefore need to scan business models outside their own line of business to understand potential threats: “A service-focused company could engage in a workshop, identifying new business models and where disruption will come from. This creates an entirely different basis for making investment plans,” says Claus.