Duus, R; Cooray, M; (2020) DVC Framework: Accelerating Digital Value Creation. The European Business Review [March/April 2020 edition] pp. 69-75.

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Abstract

In this article, we present the Digital Value Creation (DVC) framework. The DVC framework can be used as an evaluative method for organisations to create, enhance and consolidate digital value. We propose that organisations focus their digital value creation efforts in three interconnected areas: creating and managing ‘Experiences’, building meaningful and personalised ‘Relationships’ and accelerating ‘Evolution’ to support business longevity. Organisations must structure their digital value creation efforts within a strengthened outer layer comprising of ‘Digital Competences’, ‘Digital Infrastructure’ and ‘Digital Outputs’. In order to accelerate digital value creation, organisations must be digitally ready and have the internal capabilities and digital set-up that enable it to respond to new and emergent opportunities. At the heart of the DVC framework is ‘Relevance’. The process of digital value creation should be undertaken with Relevance as the interconnecting force between the three DVC elements of Experiences, Relationships and Evolution. Based on our on-going empirical research with organisations that are spearheading digital value creation, we explore the DVC framework through three case organisations: DSB, Coop Denmark and Moleskine.

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