Carol Liao, David He, and Yang Li

Boston Consulting Group

Many of today’s internet giants emerged only in the last 10 years, and we are only starting to unleash the potential of the digitally enabled business revolution, creating benefits for consumers, businesses and society.

Digital natives such as Alibaba and Amazon have been at the forefront of the revolution, and are constantly reinventing themselves in response to unrelenting technological advancements. To win in the digital era, companies must take an adaptive approach to strategy, secure an advantaged position in the ecosystem, and strive to reinvent a self-tuning business model of leveraging data and technology, achieved through a dynamic and flexible organization. To help businesses succeed in the digital era, policy makers should consider taking an activist role by reducing complexity and adopting agile ways of working. They should stimulate innovation and entrepreneurship by ramping up investment in research and development and supporting digital clusters, while proactively positioning themselves and preparing the workforce for the future changes.

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