Options for Formulating a Digital Transformation Strategy

CIOs and other senior executives face the challenge of how to handle the opportunities and risks of digital transformation. To help managers address this challenge more systematically, we describe how three German media companies successfully approached digital transformation. Based on their experiences, we provide a list of 11 strategic questions and possible answers managers can use as guidelines when formulating a digital transformation strategy

Product fit uncertainty and its effects on vendor choice : an experimental study

Recommender systems and other Internet-enabled technologies have changed the surrounding conditions of prepurchase evaluations on the Internet. In some cases consumers can now sample entire products prior to a purchase – hereby removing all uncertainty about whether a product fits their taste. While previous research has mainly focused on vendor and product quality uncertainty, it is still not clear how declining product fit uncertainty affects consumers. To close this gap, we conducted a laboratory experiment to analyze the effects on consumers’ vendor selection.We find that full elimination of product fit uncertainty is beneficial for vendors, as it increases both the number of purchases and consumer loyalty. Interestingly, if product fit uncertainty is only partially eliminated, consumers do not necessarily show differential behavior for different levels of remaining product fit uncertainty. This has important implications for online vendors that consider the implementation of additional means to reduce product fit uncertainty. Keywords Product fit uncerta