Digital transformation can be a tool for doing both well and good. The authors look to the example of the Dutch Lottery, or Nederlandse Loterij (NLO), which faced a wave of digital disruptors that operated in a legal gray zone offering pure online products. In response, the company proposed implementing a “KPI butterfly” to balance doing well (making money) against doing good (protecting society) as part of its digital transformation process. Its success offers other legacy companies lessons in how to navigate this process.
A recent debate in a controversial industry — gambling — illustrates a common dilemma faced by many companies: An incumbent faces a wave of digital disruptors who operate in a legal gray zone offering pure online gambling products like live betting and casino games. In 2021, liberalization of the online gambling market brought new competitors into the market. How could a company with legacy and regulation compete?
Source link: https://hbr.org/2023/10/balancing-profit-and-purpose-with-your-digital-transformation
