Entire-value-chain Digitization and Stakeholder Value Equilibrium in Complex Situation:A Case Study of China Telecom's"DICT Transformation"Strategy
The digital economy and the real economy are increasingly integrated into a new driving force for Chinese development.State-owned core enterprises are the pioneers and architects in the new economy.This paper selects China Telecom's"DITC transformation"strategy as a representative of state-owned core enterprises'entire-value-chain digitization,analyses the mechanism of strategic effect in complex situation,and conducts the matching path to achieve value equilibrium among multiple stakeholders.The study finds that the primary activities transformation focuses on the digitization of busi-ness models as well as products and services,which can expand consumer surplus and competition-cooperation networks to realize the value equilibrium between social capital and monetary capital stakeholders;the configuration activities transformation focuses on the digitization of resource allocation and us-age,which can achieve increasing marginal utility and decreasing marginal cost to realize the value equilibrium between social capital and human capital stakeholders;the support activities transformation focuses on the digitalization of finance and governance,which can reduce non-value costs and form ef-fective incentives to realize the value equilibrium between monetary capital and human capital stakeholders.
Digital TransformationCorporate Value ChainComplex SituationStakeholdersValue Equilibrium
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