In search of digital business models: Six questions

Old-school companies must find ways to generate digital revenue. Researchers at MIT Sloan laid out six questions that will help companies refine their digital business models. Peter Weill and Stephanie Woerner have been studying a question of critical importance to just about every large enterprise that wasn't born in the digital age: What do big ol' companies (their term) need to do to be successful today? At the 2018 MIT Sloan CIO Symposium, Weill and Woerner, co-authors of What's Your Digital Business Model?: Six Questions to Help You Build the Next-Generation Enterprise, discussed the five years of research that went into their new book and laid out their prescription for helping legacy businesses find their digital business models. "We came up with six key questions that we think senior management teams have to discuss, answer and have an honest dialogue about, if they're going to thrive in the digital era," Weill said. Weill asked the audience to consider these questions through the lens of a hypothetical CEO of a large European bank.