“A must-read for everyone working in a traditional industry”: Praise for new book launched during World Economic Forum by Felix Staeritz and Simon Torrance
Online PR News – 20-January-2020 – DAVOS AND BERLIN – Digitalization is the biggest disruption for business as usual at any major corporation. Trusted mindsets and existing business models are collapsing, corporations are struggling to react to the Fourth Industrial Revolution by risking too little transforming too slowly – particularly in Europe. This is the starting point of the exciting new book “Fightback: How to win in the digital economy with platforms, ventures and entrepreneurs” to be published in the U.S. and across the EU as well as the UK on January 23rd 2020.
“It’s time to wake up, act and really shape digital change. We need to take up responsibility for digitalization, and this is Europe’s opportunity to be at the center stage of this change,” says corporate venture builder and tech entrepreneur Felix Staeritz, the principal author, along with digital platform expert Simon Torrance.
“Fightback” has already received praise from policy and business thought-leaders, such as Klaus Schwab, World Economic Forum Founder & Executive Chairman: “Fightback showcases how to embrace digitalization and how to overcome disruption.” And Gisbert Ruehl CEO of Kloeckner & Co., said: “ A must-read for everyone working in a traditional industry.”
A serial entrepreneur, digital growth expert and founder of several startups and platforms, Felix Staeritz is also a member of the World Economic Forum’s Digital Leaders board and CEO of FoundersLane, a corporate venture builder. Co-author Simon Torrance, one of the world's leading experts on business model transformation, specializing in platform strategy and digital ventures, and is a member of the World Economic Forum’s executive working group on Digital Platforms and Ecosystems. The foreword has been written by Martina Larkin, the Head of Regional Strategies – Europe and Eurasia at the World Economic Forum.
The 286 pages strong “Fightback” delivers a different, fresh perspective and a convincing blueprint that will enable business leaders to use the digital economy to their advantage by leveraging three powerful, but little understood, strategic tools – platform business models, digital ventures and the special skills of tech entrepreneurs. Based on a sophisticated analysis, the book is a hands-on playbook for corporate renewal in an age of digitalization and makes a convincing case for Europe leading the way in changing minds and business around the world.
The book will be launched this Thursday, January 23rd, during the 2020 World Economic Forum’s Annual Meeting week and its headline topic “Stakeholders for a Cohesive and Sustainable World”, which touches on the very dissues discussed in “Fightback”: How to help businesses create the models, essential, to remain competitive as the Fourth Industrial Revolution unfolds, in a world driven by exponential technological change, as well as increasing expectations from stakeholders, on all sides.
As for digitalization, the book claims, the tipping point has already occurred, but the authors make the case for reasons to be cheerful. But it’s easy to get it wrong, as it’s not enough to simply digitize existing operational processes, as outdated trading practices are failing to have an impact, yet established corporations remain hesitant to embrace change and challenge this deep-rooted inertia. The “magic of the platform”, as the authors call it, is at the core of this radically new approach, resulting in entrepreneurial co-creation. Last but not least, the authors explain how to create a framework for change in a company and present five hands-on steps on how to renew.
An excellent combination of deep analysis based on the latest research and hands-on strategies for action-driven operations, the book addresses these challenges:
•That is the real driving force behind the new digital business models that are disrupting every industry?
•What are the key elements of adapting and/or competing with them?
•How do globally leading corporations react by changing their approach and strategies?
•What are the essential tools for a new approach, i.e. allocation of capital to digital investments, attracting young entrepreneurial talents, how do they function?
•How to create the most effective organizational set-up to take advantage of new high margin digital growth opportunities fast and how to create a portfolio of digital ventures that could become more valuable than the core business.
•Understand how to rapidly create new high growth/high margin digital ventures in practice.
The book brings together a unique set of dynamic entrepreneurs, hands-on practitioners with consulting experience with leading companies, CEOs of top global corporations, and some of the world’s top digital thought-leaders, as well as scholars of various areas of expertise:
Klaus Schwab (Founder and Executive Chairman, World Economic Forum), Linda Hill (Wallace Brett Donham Professor, Harvard Business School), Gisbert Ruehl (CEO Kloeckner), Nicolas Brusson - Co-Founder & CEO, BlaBlaCar), Ida Tin (Co-Founder & CEO, Clue), Gunnar Groebler (Senior Vice President, Business Area Wind, Vattenfall), Markus Fuhrmann (Co-Founder, Delivery Hero), Michael G Jacobides - Sir Donald Gordon Chair of Entrepreneurship, London Business School), Peter Borchers (Former CEO Allianz X, Founder hub:raum, global incubator of Deutsche Telekom), Karthik Suri (SVP & COO, GE Digital), to name but a few.
The book is part of an ongoing movement of some of the world's leading entrepreneurs, corporate execs, academics and policy makers who are driving the next wave of innovation and growth to advance Europe digitally. The book includes the best case studies, insights and learnings from their experiences of disruptive innovation and business model transformation.