Some New Trends of Digital Transformation in Business (original) (raw)
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Digital transformation trends reshaping companies
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Nowadays, the ubiquity of the digital technology and the transformation it brings both within the societies and economies around the globe has become a well-accepted fact. For business is no longer a matter of whether or not to incorporate technology in their daily activity, but a matter how to change their way of approaching, and doing when adapting to digital. The digital transformation has enabled the emergence of new business models, as well as many other changes when it comes to satisfying the customer’s needs and expectations, by creating opportunities for value and sustainability. The present paper highlights all these aspects, emphasizing on how businesses can think about the digital transformation to achieve the highest benefits and create competitive advantage.
Digital Transformation in Businesses: The Process and Its Outcomes
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Purpose- The purpose of this study is to serve as an extensive outlook about digital transformation. Its content comprises the elements of digital transformation, the ways of adapting to digital transformation, reasons for failure, means of digital transformation, and insights and discussions on new business environment. Methodology- In this study, a comprehensive literature review is followed to learn about the current business circumstances regarding digital transformation and have a deep understanding on the previous studies conducted about digital transformation. Findings- The literature review reveals that digital transformation has provided positive impract on businesses at different levels. Although challenges against digital transformation may arise, they can be tackled if the nature of digital transformation is understood well. The success of digital transformation is dependent on numerous factors from different aspect which should be studied carefully before and during the...
Digital transformation of organizations: what do we know and where to go next
Journal of Organizational Change Management, 2021
Purpose The purpose of this paper is to identify the development of the digital transformation literature and to the systematic literature review methodology. Design/methodology/approach The authors run a systematic literature review, followed by a rigorous thematic analysis of both academic and grey literature dataset, in order to develop a conceptual map of organizations' digital transformation. The authors aggregate the concepts and topics identified across the literature to find that they overwhelmingly tackle digital business models. At the same time, the authors identify a major blind spot resulting from ignoring the organization itself as a unit of analysis. Findings The findings show that developing a digital theory of the organization or the theory of digitally transformed organization is a major challenge to management researchers. The analysis exposed numerous research gaps that can be helpful for future research directions. Originality/value Digital transformation research enjoys an increasingly rapid rise to recognition across many academic disciplines and strongly impacts the management domain. adopt the view that published documents reflect the collective understanding of a phenomenon. This paper contributes to filtering the digital transformation literature, clarify complex relation between digital transformations of organizations and identify the key blind points.
Digital transformation in business and management research: An overview of the current status quo
International Journal of Information Management, 2022
It is no surprise that research on digital transformation (DT) has raised vast interest among academics in recent decades. Countries, cities, industries, companies, and people all face the same challenge of adapting to a digital world. The aim of the paper is twofold. First, map the thematic evolution of the DT research in the areas of business and management, because existing research in these areas to date has been limited to certain domains. To achieve this, articles were identified and reviewed that were published in the Chartered Association of Business Schools' (ABS) ≥ 2-star journals. Based on these findings, the second objective of this paper will be to propose a synergistic framework that relates existing research on DT to the areas of business and management, which will help form the evolutionary perspective taken in this paper. Considering the emerging development of the topic under investigation, the framework is understood as a sound basis for continued discussion and forthcoming research.
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There was a time in business, where business as usual was good enough. Now no more. Where we are going good enough is dead and dying. In a world where everything is connected, there is only one major space to innovate, which is the digital transformations inside the organization. The organizations which are not digitally transforming are getting out of business. The research paper aims to identify, describe the impact of digital transformation of business in India and describe the key drivers of strategic business management development in the light of the recent waves of digital transformation. This research paper presents an overview of the existing literature, which is there concerning digital transformation. The research results from professional associations as well as the existing body of the recognized publishers were considered for making the research. Furthermore, we have conducted expert interviews as well as the market data where it was available. Keywords⸻ digital transf...
Digital Transformation and its Impact on Organizations
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The paper discusses the topic of digital transformation, starting from its definition and examining the literature focusing on several theoretical aspects. The paper argues that digital transformation is not just about technology, but also about people, their mindset, and skills. It is also about rethinking business models and processes to leverage technology for better outcomes. In sum, digital transformation is a complex and multidisciplinary phenomenon that requires a holistic approach. Additionally, this paper aims to address these fundamental questions: What are the factors that impact organizations, and what factors appear to determine the failure of digital transformation in organizations, considering that the majority of organizations seem to struggle in achieving successful digital transformation? Consequently, many organizations find themselves unable to implement a genuine and effective digital transformation, despite their efforts in digital investments. This contribution aims to enrich the literature and enhance knowledge regarding the important issue of digital transformation failures across organizations, also considering the limited research on the factors determining the failure of digital transformation. The originality of the study lies in the metadata analysis carried out, which allows for an efficient and deeper insight into the problem at hand.
The Digital Transformation: Key Attributes and Challenges
IJAEMA: The International journal of analytical and experimental modal analysis, 2019
As a catalyst for positive and radical change, digital transformation represents a complex issue that affects people from all walks of life and the whole economy. The objective and ultimate aim of this procedure are efficient business processes as well as operations through rigorous use of ICT. The study topic of this research paper is the key attributes and challenges of the digital transformation process of business in both the private and public sectors. This paper analysis shows that some aspects, like the pace of transformation, the culture and working environment, viewpoint are substantially underdeveloped. More precisely this document is intended to place the current knowledge about the subject in order. We introduce a systematic analysis of scientific and technical literature regarding how digital transformation facilitates business, we demonstrate that the knowledge regarding how digital transformation assists in the business. Moreover, key attributes and challenges within this topic are emphasized. Furthermore, the research paper provides the roadmap for digital transformation.
Navigating the Digital Transformation Journey: Strategies for Business Reinvention
HAAMI DIGITAL CONSULTANCY, 2024
In the rapidly evolving digital landscape, businesses face an imperative to adapt and transform or risk becoming obsolete. Digital transformation has emerged as a strategic necessity, transcending mere technological adoption to encompass a fundamental shift in organizational culture, processes, and mindsets. This article delves into the critical facets of digital transformation, exploring its drivers, implementation challenges, and the profound impact it exerts on every aspect of an organization. Through a comprehensive analysis, it provides a roadmap for businesses to successfully navigate the digital transition, fostering innovation, enhancing customer experiences, and attaining operational excellence. By embracing digital transformation as a strategic imperative, organizations can fortify their competitive advantage and thrive in the digital era.
Digital Transformation: Review of Concept, Digital Framework, and Challenges
Swaranjali Publication , 2018
India is undergoing through a phase of digital transformation. The digital transformation can be seen in India almost in many areas like in government policies, business activities, governance, education etc. The digital businesses are focused on integrating digital technologies, such as mobile, social, analytics, big data, cloud, Internet of things, Industry 4.0 etc. Challenge to digital transformation is that risk taking is becoming a cultural norm as more digitally advanced companies seek new levels of competitive advantage. The companies, where digital technologies are critical parts of the infrastructure, will soon be profitable on average, had higher revenues, and achieved a bigger market valuation than competitors. With emerging digital technologies, however, there are significant challenges & issues associated with cloud, mobile, social, and big data initiatives. The survey suggests that the primary risks preventing their wider adoption are data security issues, lack of interoperability with existing IT systems, and lack of control etc. The purpose of this chapter is to review critically initiatives, issues and challenges in digital transformation of a business in India.
Lecture notes in business information processing, 2022
As a disruptive paradigm, especially with the Covid-19 emergence, digital transformation (DT) becomes a main area of interest for many organizations. From a trend perception to an obligation, digital transformation implementation requires many changes, adaptations, and updates. Its success depends on many levers, the most important of which remains the design and implementation of a digital transformation strategy (DTS). Indeed, lacking capabilities to embrace DT can lead to the disappearance of the company. However, and despite relevant research, the formulation, implementation, and evaluation of the digital transformation strategy as a key to successful digital transformation remain vague and blurred. Thus, this article aims to draw up a literature review on DTS with a general approach guiding the implementation of digital transformation. The focus on the experience of the AssetCo company as a monographic study will serve to concretely describe the formulation and the implementation of the digital transformation strategy, its stages, as well as a conclusion on the main key factors of success. Thus, this article intends to contribute to a better understanding of the stages of the digital transition of companies. While many recent works have proposed constructive models for the implementation of DT, these remain specific to a particular industry or business model. In this respect, the general approach proposed in this article is intended to be more generalist, and under certain contextualization, is also intended to be adaptable to any company.