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How do the digital giants (Google, Amazon, Baidu, etc.) factor in to your company’s (business) strategic thinking?
“Our business strategy is based on evolving a partner ecosystem; we won’t succeed alone. We are currently co-developing solutions with one of the digital giants, and discussing with another. The collaboration is enlightening. We learn new methodologies and other things, and mixing people is making for better results. It seems to us a non-zero-sum game, where both really get value.” — Martin Piqueras Caro, CIO, SUEZ
Each Organization Must Build the Digital Dragons Into Their Planning and Execution
Build Your Digital Dragon Deck
Example: How Audi Deals With “Digital Champions”
Digital strategy goals: $1 billion profit by 2025. Effortless customer experience. Reducing general complexity.
Share with others in Volkswagen group using groupwide digital services committee. For example, leveraging Volkswagen Connect.
Four components: Big-ticket items (e.g., bringing existing products into the digital age), must-dos (e.g., support for new smartphones), wow factors (things customers didn’t expect), enablers (heavy lifting, like in-car connectivity).
Spun off an autonomous intelligent driving company, AID.
Digital is a “two-speed industry.” Top digital companies, wholly focused on digital, with an army of smart digital talent, patient investors, and big visions. And everyone else. Even the giants in each industry shouldn’t go toe to toe with the digital giants on their own turf. Companies have to be realistic and understand trade-offs of working with the digital giants versus going it alone.
There is an opportunity/imperative to learn from these digital giants. “We made a list of 60 digital champions. We studied them and distilled out a set of 12 principles for digital success. We then boiled them down to four to five rules.”
John Newman VP and Head of Digitalization, Audi AG
Model How the Digital Dragons See Your Business
"We want BAT (Baidu, Alibaba, Tencent) to be a part of our supply chain, but they see us as a participant in their platform." — Li Hongwei, head of IT and IS planning and management, Dongfeng Motor
Think Through Your Posture Regarding the Digital Dragons
Public / Private Internet Companies, Ranked by Market Valuation (5/29/18)
Rank
Market Value ($B)
2018
Company
Region
5/29/13
5/29/18
1)
Apple
USA
$418
$924
2)
Amazon
USA
121
783
3)
Microsoft
USA
291
753
4)
Google/Alphabet
USA
288
739
5)
Facebook
USA
56
538
6)
Alibaba
China
-
509
7)
Tencent
China
71
483
8)
Netflix
USA
13
152
9)
Ant Financial
China
-
150
10)
eBay + Paypal*
USA
71
133
11)
Booking Holdings
USA
41
100
12)
Salesforce.com
USA
25
94
13)
Baidu
China
34
84
14)
Xiaomi
China
-
75
15)
Uber
USA
-
72
16)
Didi Chuxing
China
-
56
17)
JD.com
China
-
52
18)
Airbnb
USA
-
31
19)
Meituan-Dianping
China
-
30
20)
Toutiao
China
-
30
Total
$1,429
$5,788
Source: Kleiner Perkins, 2018 Internet Trends
China’s Government Is Strongly Driving the Digital Agenda
Initiative
Details
Made in China 2025
Issued May 2015 by Premier Li Keqiang. Inspired by Germany’s Industrie 4.0. To upgrade Chinese industry. 3 timelines — 2025, 2035, 2049 for China to become leader. Priority sectors include advanced IT, automated machine tools & robotics.
Social Credit System
Extensive plans to collect data about people and companies, score their behavior, and provide incentives based on social credit score. Data initially being collected from government agencies and stored on the National Credit Information Sharing Platform.
Next-Generation AI Development Plan
Issued by State Council 20 July 2017. Catch up to global AI leaders by 2020. By 2025, achieve major breakthroughs in AI research. Use AI to drive industry reform. By 2030, become world leader in AI research and application. Use AI to build intelligent economy/society to make China world leader. Value of AI to surpass 1 trillion yuan ($147.80 billion) by 2030.
13th Five-Year Plan (2016-2020)
Adopted March 2016. A broad and ambitious set of objectives, including 6.5% annual GDP growth and Increasing R&D spend from 2.1% to 2.5% of GDP.
Belt and Road Initiative (BRI)
(Also known as Silk Road Economic Belt and the 21st-century Maritime Silk Road.) Issued by Xi Jinping in 2013. Goal is to connect 2/3 of the world’s population across 70 countries through land links (the belt), and sea routes (the road). Also includes banking/funding, university/engineering alliances and clean energy programs.
19 Super Regions/City Clusters
As outlined in China’s 11th five-year plan, Chinese has been developing of regional city clusters, to drive shared economic prosperity and growth. Three are designated as super-clusters (Yangtze River Delta, Inc., Shanghai; Pearl River Delta, Inc., Guangzhou; and Jingjinji, Inc., Beijing). Eight are described as emerging clusters, and a further eight are frontier clusters.
Baidu builds global autonomous driving ecosystem
OUR RECOMMENDATIONS
Accept, understand and socialize the role and importance of the digital dragons in the next decade.
Build your digital dragon knowledge deck; don’t ignore China.
Construct your view of how they see your company/industry.
Choose your strategic posture regarding the digital dragons; each has their advantages and risks.
Build time in for learning through productive friction.
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