Digital Strategy and Transformation | Customized Programs
ESMT Customized Solutions (CS) designs and delivers programs tailored to the development of each organization.
Our team brings together academic and business expertise for industry-specific rather than functional consulting on business solutions, emphasizing current research and real-world practice.
Case study on Munich Re: Shaping Future Business in a Digital World
German-based Munich Re is a leader in the global reinsurers market. The overall design concept was to provide participants with an overview of how digital technologies are shaping the business world today and their opportunities and threats, a "frame of reference" to make sense of these, a language with which to discuss them, and some tools to help sharpen their thinking.
The program included modules on:
- Digital disruption
- Achieving successful digital transformation
- Digital innovation
- Working with big data
- Lean startups
- Digitalization of business models
- Looking into the digital future
- Cybersecurity and implications
In a series of video lectures created for Munich Re, professors and consultants of the Digital Initiative at ESMT Berlin taught viewers about key aspects of digitalization in the business sector. The lectures provided a framework for understanding and applying the lessons of digital disruption, innovation, and entrepreneurial thinking. The sessions also showed how leaders can use digitalization to support sustainable and socially responsible approaches to their strategies at operational, organizational, and sector levels.
Expertise: Our Information and Communications Technologies Practice Group
Information and communications technologies (ICTs) are pervasive. Today, they are exerting considerable influence over our daily lives—personal and professional. From the smartphone to the smart home, sophisticated technology increasingly shapes how we communicate with our peers, engage with our governments, regulate our homes, navigate our streets, and even monitor our health.
Many businesses are similarly dependent on ICTs. For some, they are a source of competitive differentiation, providing opportunities for the development of new products and services and for redefining customer and supplier ecosystems. For others, ICTs are disruptive and destructive—sectors as different as news media and gambling have shifted online to weather the transformation.
The ICT industry is itself dynamic and challenging. Hardware and software innovations regularly reveal themselves—opening up new business opportunities and creating entirely new markets. These innovations can as easily emerge from someone’s bedroom as they can from multi-billion research labs. The speed of development is so immense that one poor decision can put the very existence of a company in jeopardy. In the same respect, today’s bleeding edge technology can quickly be made obsolete by tomorrow’s.
Many technology companies are struggling in this environment. In B2B markets, too many naïvely assume that their success is based on superior technology—overlooking the importance of a clearly articulated value proposition. They are also struggling with new sales models, as they ditch lucrative licensing fee structures in response to the threat posed by cloud computing and subscription-based pricing. While at times exciting, an industry shaped by constant change and dramatic innovation can leave business leaders paralyzed by uncertainty, fear, and indecision.
ESMT Berlin aids ICT companies as well as industries undergoing digitalization by sharing expertise and examples on issues such as CIO/IT leadership, digital performance management, market positioning, and strategy development.