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2

Strategic objectives

• Vision

• Mission

• Objectives

Digital business specific techniques

• Vision about capability to change, to reinvent

• Online revenue contribution

• Replace vs Complement

• Extent of adaptability needed

Vision

• SMART objectives

• Online revenue contribution

• Customer value targets

• Balanced scorecards

Objectives

helpful since it contextualises digital business in relation to a company’s strategic initiatives 

(business alignment) and its marketplace. It also helps give a  long-  term emphasis on digital 

business transformation initiatives.

Vision or mission statements

 for digital businesses are a concise summary defining the 

scope and broad aims of digital channels in the future, explaining how they will contribute 

to the organisation and support customers and interactions with partners. Jelassi and Enders 

(2008) explain that developing a mission statement should provide definition of:

● 

Business scope (where?). Markets including products, customer segments and geogra-

phies where the company wants to compete online.

● 

Unique competencies (how?). A  high-  level view of how the company will position and 

differentiate itself in terms of digital business products or services.

● 

Values (why?). Less commonly included, this is an emotional element which can indicate 

what inspires the organisation or its digital business initiative.

Many organisations have a  top-  level mission statement which is used to scope the ambition 

of the company and to highlight the success factors for the business. Some examples are 

shown in Box 5.2.