The future is digital. But the substance of business remains understanding and perfecting business processes. A business process can only be digitized when it is fully understood.
Van Engelen discusses in Chapter 4 – Digital Transformation Planning – how in this fast changing domain— predicted by few and now reality for all— companies can transform today’s challenges into tomorrow’s opportunities?
SOSTAC
Introducing the SOSTAC and Business Model Canvas for best practice.
What is PR Smith’s
SOSTAC® Planning?
SOSTAC® is a simple aide-mémoire with a full planning methodology behind it. SOSTAC® is now used all over the world by professionals to produce great plans to boost results – business plans, marketing plans, digital marketing plans and digital transformation plans.
Business Model Canvas
The nine “building blocks” of the business model design template that came to be called the Business Model Canvas were initially proposed in 2005 by Alexander Osterwalder, based on his earlier work on business model ontology.
The Business Model Canvas is a strategic management template used for developing new business models and documenting existing ones. It offers a visual chart with elements describing a firm’s or product’s value proposition, infrastructure, customers, and finances, assisting businesses to align their activities by illustrating potential trade-offs.
Since the release of Osterwalder’s work around 2008, new canvases for specific niches have appeared.