Strategic Innovation Driven by Digital Transformation

The digital transformation and its consequent technological innovations represent the major drivers of strategic innovation as well as business model disruption. The current challenges characterizing the present industrial scenario are encouraging companies to shift to advanced organizational structures. In order to achieve so, multiple strategic theoretical frameworks have been developed for the purpose of enabling business model change and introducing innovative solutions to enhance business processes, thus enabling organizations to gain significant competitive advantages. A few real-world case studies are presented in order to better understand the implications of disruptions characterizing organizational business models. The characteristics of the Fourth Industrial Revolution include the following a far greater degree of automation compared to the previous industrial revolutions as well as the widespread growth in the use of data originated from various sources. The power of data characterizes the current industrial revolution as data are considered to be crucial to transforming businesses as well as entire industries. The Fourth Industrial Revolution involves the introduction of numerous technologies, enabling organizations to drive change as well as to thrive in the digital era. Digital technologies and technological strategies therefore enable strategic as well as business model innovations. The purpose of this chapter includes the representation and description of the tools essential to implementing a strategic innovation, whilst guiding companies through the process of business model innovation. The principal frameworks, illustrated throughout Chap. 1 , include the business model canvas as well as the strategic fit matrix. Both the aforementioned models represent the main tools in order to support companies through the implementation of advanced solutions capable of fulfilling consumer needs and delivering value to customers.