Oxford Economics’ Thought Leadership team collaborated with IBM and Amazon Web Services on a qualitative analysis on how digitally native organisations innovate, and the lessons that can be taken away by legacy firms who hope to compete with them. Digital-first organisations approach technology as central to their business; legacy firms tend to think of technology more as a business enabler.
Legacy industries need to change their leadership mindset to embrace a digital-first philosophy; embrace flexible IT architecture, like cloud systems, to accelerate digital transformation; and embrace rapid experimentation with minimum viable products to support digital-first business models.
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