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Digital era for ASEAN conglomerates
Hype or reality
“Digital” is a hot topic that has forced businesses to question whether it is a passing trend or a strategic topic of substance. However it is still not clearly understood. Is digital all about start-ups or is it relevant to established companies? Is it limited to delivering better customer experiences and efficiencies or for enabling focused targeting of sub-segments?
Within the ASEAN context, business leaders are also faced with the challenge of managing the diversity and complexity of multiple markets ranging from a fully developed economy (e.g. Singapore) to a market that is only recently opening up to global practices (e.g. Myanmar). How will the digital economy emerge in different markets of ASEAN given such diversity? These are added complications requiring views on how to localize digital innovations to fit the varying market environments.
In this report, we assess the potential impact of digitization to conglomerates with significant interests in ASEAN. We also review some of the successful digital innovations based on our expertise in innovation strategy using our “Ten types of innovation framework” that are applicable to ASEAN in key industries covering Consumer Business, Telecom, Media and Technology, and Financial Services.