You can buy your way into a new business model, but selling the idea to your employees should be a priority, says Noerr's Gerald Reger.
A study by the international law firm Noerr and the Technical University of Munich (TUM) has found that a clear digitalisation strategy is a decisive factor in successfully transforming companies’ business models. Although the study focuses on German firms, the lessons are clear for British businesses which are in a similar position; CBI research has found that £100bn of additional value could be unlocked for the UK economy by increasing business adoption of key technologies and management practices.
In the Noerr/TUM study, 150 decision-makers in German companies were questioned on how they were developing their future digital strategy and what role mergers and acquisitions played in this.
In order to expand their digital capabilities, companies often rely on acquiring know-how; a quarter of all M&A transactions in 2017 were digitally motivated. According to Mergermarket, from 2013 to 2017, M&A transactions in the German market with a digitalisation element increased by 6% to 25%. One of the ma
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