The Power of Digital Strategy in the Modern Digital Era

Marketing Podcast with Mike Lenox

In this episode of the Duct Tape Marketing Podcast, I interview Mike Lenox. He is the Tayloe Murphy Professor of Business at the University of Virginia’s Darden School of Business. He has served on the faculty at Duke and NYU and as a visiting professor at Harvard, Stanford, and Oxford. 

His new book Strategy in the Digital Age: Mastering Digital Transformation, explains how digital technologies enable the creation of innovative services and products.

Key Takeaway:

Digital strategies in the digital age are about finding valuable positions at the intersection of an organization’s values, market opportunities, and capabilities. In the digital age, technology has pervasive impacts, and data plays a central role in transforming customer value propositions, operations, and the structure of industries. Companies must be proactive, adapt their capabilities, and consider societal implications and ethical considerations in their digital strategies.

Questions I ask Mike Lenox:

• [01:51] How do you define strategy?
• [02:44] How may somebody look at digital strategy compared to regular strategy?
• [04:02] In your book, how do digital technologies enable the creation of services and products in an entire industry?
• [05:48] AI is essentially a technology that is massaging data. What are some of the opportunities, and also some of the threats?
• [07:27] How would you work with somebody to help them uncover where their opportunities might be or where they might actually be in real danger of being disrupted?
• [11:29] What’s the strategy for a startup to take on a really big entrenched industry that doesn’t want to go away?
• [16:08] There are some social implications and policies when talking about AI. Where does that fit into to rush in digitalizing?
• [18:00] Tell me some examples of companies that are approaching the thoughtfulness of AI in a way that is appropriate.

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This episode of the Duct Tape Marketing Podcast is brought to you by the HubSpot Podcast Network.

HubSpot Podcast Network is the audio destination for business professionals who seek the best education and inspiration on how to grow a business.