We spoke with Marcus about Digital and its place in the modern business world.
- Why is digital strategy close to you heart? “As the average corporate life span on the S&P 500 index has decreased from 61 years in 1958 to around 18 years today, global markets are rife with disruption to both value chains and business models. Much of this disruption is driven by the fact that some companies adapt better and faster to the digital era than others, therefore digital strategy must be at the top of the agenda at every corporate board to ensure survival and avoid extinction. Many of our clients need a better understanding of the new digital landscape and what different roles their company can play, a reorientation which I find very interesting to be part of..”
- What are some the central questions your clients are struggling with? “Initially, it is about increasing the digital awareness and especially to understand the main disruptions and trends affecting our clients’ industry. Once an understanding is in place, companies must understand how their value chain, business model and eco-system will be affected and how they can position themselves in this new landscape. Business models in the digital world can adapt much faster than traditional companies, and many of our clients are worried whether they can compete with the new breed of companies and how they can avoid becoming steamrolled by more agile start-ups.”
- If you were to highlight a few cases where we really made a difference in this space, what would they be? “I had the opportunity to be part of a digital strategy project for one of the largest financial services companies in the Nordics, where the management team was concerned about how the company would be affected by new players and innovations. We assisted them in increasing the management team’s digital awareness, which led to the creation of a digital vision and adaption of the current organizational model to better suit the digital era. I have also been part of a Smart City strategy, where we assisted a large city in navigating different smart city value chain strategies and how different strategies would affect the city in the long run.”