[A Sip of Books] The 'Survival Code' in the Digital Era

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This book examines the flow of global business trends and outlines the essential and inevitable methods and journey toward platform business through digital transformation. The author, a professor at Seoul National University’s College of Business Administration and an expert in management information systems who has conducted data-driven system research with numerous companies, proposes implementing bold structural changes by adopting digital transformation.

The innovation of the platform business model is remarkable because it possesses disruptive power and unidirectionality. This is actually related to monopoly and oligopoly. For example, in the past, when repairing a house, each service was used separately. If the water pipe broke, you called a plumber; if the electricity failed, you called an electrician. However, with the platform model, integrated services became possible. Now, instead of searching for repair phone numbers or asking around the neighborhood as before, everything is resolved on the platform. But what you find on the platform is not truly what you chose. We select from the items that the platform prioritizes and lists. In fact, the platform is the one making the choices. Our selections are controlled by the platform. 【Part 1 | The Decade of Great Transformation, Secrets of Surviving Companies: pp. 42?43】

Digital transformation is a kind of option. If you buy it and fail, you only lose a small investment, but if you succeed, enormous profits are promised. Investing heavily in such an option structure is what digital transformation is. Here, failures are small and successes are large, so success is inevitable. It has long been since the era of manufacturing shifted to the era of software. The dreams of electronics manufacturers?Apple, Google, Facebook?are being realized one after another without fatigue. Lastly, I want to talk about Steve Jobs’ attitude and the new customer preferences he presented. Now, utility value is not the most important in products. You must create services that customers love. You must create products like the latest iPhone that customers want so much they line up overnight. 【Part 1 | The Decade of Great Transformation, Secrets of Surviving Companies: pp. 64?65】

In 2013, Nike was selected as the world’s most innovative company by the American business monthly Fast Company. It may seem surprising that a global sports retail company was recognized as the most innovative company, surpassing IT tech companies, but looking at Nike’s digital transformation journey reveals the reason. Nike collaborated with Apple even before the iPhone was released to create products that send user exercise data measured by shoes to AirPods. They noticed that most people who wore Nike shoes had iPods and listened to music on iPods while jogging. This innovation, which generates and synchronizes exercise records, changed the concept of running, which previously lacked a sense of achievement. 【Part 3 | Digital Strategies That Never Fail: pp. 126?127】

The Last Survival Code, Digital Transformation | Written by Yoo Byung-jun | 21st Century Books | 212 pages | 17,000 KRW

This content was produced with the assistance of AI translation services.