scholarly journals Creative Destruction, Technology Disruption, and Growth

2019 ◽  
Author(s):  
Thomas Clarke
Keyword(s):  
Environmental Sustainability ◽  
Business Models ◽  
Digital Technologies ◽  
Creative Destruction ◽  
Digital Transformation ◽  
Business Strategies ◽  
Digital Networks ◽  
Intelligent Technology ◽  
The Impact ◽  
Technology Systems

The origins of modern technological change provide the context necessary to understand present-day technological transformation, to investigate the impact of the new digital technologies, and to examine the phenomenon of digital disruption of established industries and occupations. How these contemporary technologies will transform industries and institutions, or serve to create new industries and institutions, will unfold in time. The implications of the relationships between these pervasive new forms of digital transformation and the accompanying new business models, business strategies, innovation, and capabilities are being worked through at global, national, corporate, and local levels. Whatever the technological future holds it will be defined by continual adaptation, perpetual innovation, and the search for new potential. Presently, the world is experiencing the impact of waves of innovation created by the rapid advance of digital networks, software, and information and communication technology systems that have transformed workplaces, cities, and whole economies. These digital technologies are converging and coalescing into intelligent technology systems that facilitate and structure our lives. Through creative destruction, digital technologies fundamentally challenge existing routines, capabilities, and structures by which organizations presently operate, adapt, and innovate. In turn, digital technologies stimulate a higher rate of both technological and business model innovation, moving from producer innovation toward more user-collaborative and open-collaborative innovation. However, as dominant global platform technologies emerge, some impending dilemmas associated with the concentration and monopolization of digital markets become salient. The extent of the contribution made by digital transformation to economic growth and environmental sustainability requires a critical appraisal.

scholarly journals Digital Disruption in Retailing and Beyond

2020 ◽  
Vol 4 (4) ◽  
pp. 187-204
Author(s):  
Heiner Evanschitzky ◽  
Boris Bartikowski ◽  
Tim Baines ◽  
Markus Blut ◽  
Christian Brock ◽  
...  
Keyword(s):  
Business Models ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Service Robots ◽  
Sensory Marketing ◽  
Digital Disruption ◽  
The One ◽  
The Impact ◽  
Near Future

The increased disruption of business models through digital technologies creates opportunities and challenges for retail businesses and their network partners. Digital transformation – the process of digitalization of previously analogue operations, procedures, organizational tasks, and managerial processes in order to drive value for customers, employees and other stakeholders – is the order of the day. With that in mind, this article provides a purposeful overview of research in the field of digital transformation with a focus on retailing and customer-facing functions of digital technologies such as managing customer journeys, assessing the impact of sensory marketing and the use of service robots on the one hand, and their strategic implications for business models such as servitization on the other. This article concludes by highlighting immediate as well as long-term challenges in the field, with a focus on disruptive technologies, innovations and trends that retail marketing-management will likely face in the near future.

New reality: Current issues of logistics infrastructure development in the context of the spread of coronavirus

2021 ◽  
Vol 39 (6) ◽  
Author(s):  
Natalia V. Murahovscaia
Keyword(s):  
Information Technologies ◽  
Business Models ◽  
Digital Technologies ◽  
Strategic Plan ◽  
Individual Characteristics ◽  
Digital Transformation ◽  
Infrastructure Development ◽  
Modern Information ◽  
The Individual ◽  
The Impact

The study analyses the current issues of logistics infrastructure development and the impact of modern information technologies on it. The influence of the spread of the coronavirus pandemic on the change of conventional business models and relations between consumers and manufacturers, the study of customer experience based on digital technologies, and the trends in the development of new strategic aspects caused by the high uncertainty due to the unpredictability of the lifting of quarantine measures. The implementation of digital transformation in an enterprise requires the development of a strategic plan that includes an analysis of the individual features of the organisation of business processes, the development of the architecture of transformed products and services, new models of interaction with customers, and the analysis and development of an organisational structure that can function effectively during the transformation. The study describes the potential for growth and development of companies in the implementation of digital transformation and the development of digital partnership on the example of foreign and national companies, examines the principles of digitalisation and identifies the reasons for the slow introduction of innovations in the logistics infrastructure. The study considered the main aspects of modern information technologies implemented at logistics infrastructure enterprises, as well as possible risks of the transition period, including risks associated with the low maturity of the infrastructure of certain companies. The main purpose of substantiating the presented hypothesis is to study the mechanisms of optimisation of operational activities in the implementation of digital technologies at the regional and international levels and to assess the impact of digitalisation processes on the re-profiling of personnel and the renewal of human resources. In the course of the study, methods of comparison and analogy, analysis, and synthesis were used. The methodological framework of the study includes the system and institutional approaches to the development of a digital platform for the effective development of logistics infrastructure. The author believes that the main component of a successful digital transformation of a company is the presence of a strategic plan that includes a vision for the transformation of products and services, as well as interaction with customers, taking into account the individual characteristics of the structural organisation and organisation of each particular enterprise.

Evaluating the impact of digital technologies on the performance of an industrial enterprise

2020 ◽  
Vol 8 (8) ◽  
pp. 1545-1565
Author(s):  
M.B. Rybakov ◽  
G.V. Kolesnik
Keyword(s):  
Systems Analysis ◽  
Business Models ◽  
New Technologies ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Digital Culture ◽  
Industrial Enterprises ◽  
Digital Competencies ◽  
The Impact ◽  
Comprehensive Indicator

Subject. Considering the use of traditional business models, the digital transformation becomes a cornerstone for industrial enterprises to remain competitive and survive in the market. Therefore, it is important to identify factors making the integration of digital technologies into operations more effective. Objectives. We analyze how digital technologies influence the performance of industrial enterprises. We also identify what improves corporate operations, and choose digital transformation metrics. Methods. The study relies upon methods of the logic and systems analysis, multivariate optimization. Results. The article sorts contemporary challenges to the corporate competitiveness due to the emergence of digital technologies. We discover factors that spur the performance of industrial enterprises in the digital economy. We suggest using a comprehensive metric to gauge the efficiency of digital technologies integrated into the enterprise's operations. Conclusions and Relevance. Digital technologies are not supposed to penetrate every sector. Furthermore, to effectively integrate them, the company should at least have the digital culture and employees who have basic digital competencies. If enterprises have low capabilities for perceiving new technologies, the priority development may turn to be hard for them in those sectors where digital technologies and knowledge are most important. The single indicator is not enough to gauge whether digital technologies have been effectively implemented. The comprehensive indicator seems more promising, since it accounts for indirect effects, rather than direct effects on the performance.

scholarly journals The impact of digital transformation on the formulation of new corporate strategic directions

2021 ◽  
Vol 4 (2) ◽  
pp. 141-153
Author(s):  
Ernad Kahrović
Keyword(s):  
Business Models ◽  
Digital Technologies ◽  
Essential Elements ◽  
Digital Transformation ◽  
Digital Platforms ◽  
Expansion Strategy ◽  
Market Expansion ◽  
Operational Processes ◽  
Employee Experience ◽  
The Impact

The digital economy, as an economy primarily functioning via digital technologies, has made its impact on the development of the digital transformation concept. Such a form of business transformation requires the integration of digital technologies in all industries. The paper underlines the importance of the essential elements of transformation, regarding customer experience, operational processes, business models, employee experience and digital platform, along with the key business spheres, relating to competition, innovation and value, which digitalisation changes on the way. The main goal of the paper therefore is to point to the impact of digital transformation on the process of formulating new corporate strategic directions. With this in mind, the main aim of the paper is to stress prospective corporate strategic directions of digital transformation under conditions of deep digital penetration. The paper is based on the working hypothesis that despite the fact that existing businesses most commonly start with market penetration, through developing a digital technology strategy, as well as digital market expansion strategy, further development of digital transformation leads to the creation of digital platforms that are built by mutual collaboration of numerous stakeholders connected through joint value creation and its delivery.

Integrated Predictive Experience Management Framework (IPEMF) for Improving Customers Experience

2022 ◽  
Vol 12 (1) ◽  
pp. 0-0
Keyword(s):  
Feedback Loop ◽  
Business Models ◽  
Business Processes ◽  
Digital Technologies ◽  
Customer Experience ◽  
Digital Transformation ◽  
Management Framework ◽  
New Business ◽  
The Impact ◽  
New Business Models

Enterprises are adopting digital transformation with an exponential rate to drive growth through new business models and the use of digital technologies. Digital transformation is a business imperative rather than technology imperative. Hence, customer experience during and post-transformation is key to the success of the digital transformation. The present paper proposes an Integrated Predictive Experience Management Framework (IPEMF) for improving customer experience. IPEMF is- a structured and methodological business processes centric connected experience framework with the customer at the centre. The uniqueness of IPEMF is that it seamlessly integrates business processes, technology, organisation, and customer behaviour. It is agnostic of the business vertical or the geography. The framework puts forth an approach to predict the impact on customer experience proactively and provides a feedback loop to help continuously improve the experience. IPEMF helps enterprises build intuitive, trusted relationships and hyper-personalised customer experience through the customer journey.

THE IMPACT OF DIGITAL TECHNOLOGIES ON THE ORGANIZATIONAL DEVELOPMENT OF THE ENTERPRISE

2021 ◽  
pp. 8-20
Author(s):  
Elena V. Kunina ◽  
Keyword(s):  
Big Data ◽  
Life Cycle ◽  
Organizational Development ◽  
Information And Communication Technologies ◽  
Business Models ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Digital Culture ◽  
Direct Access ◽  
The Impact

This article considers the impact of digital technologies on the organizational development of an enterprise. It shows the relevance and neces- sity of studying the topic at the present time. At different stages of its develop- ment, the company faces certain difficulties that prevent further growth and further transition from one stage of the organization’s life cycle to another. In industries, businesses are reengineering business processes and even entire business models to transform big data and apply them to achieve competitive advantage. The trend towards digital transformation of related value systems using information and communication technologies (ICT) can be considered as an opportunity for organizational development of the enterprise. Businesses use digital technologies such as IoT platforms, advanced human-machine interfaces, the authentication and fraud detection tools, 3D printing, smart sensors, big data Analytics, and more. Digital technologies can be profitable for an enterprise by saving costs, expanding connectivity, and being more flexible and adaptable to a digital environment that is becoming more complex and competitive. In the scientific literature, there are many studies devoted to the study of organizational development of the enterprise. Almost every concept considers organizational development from the point of view of distinguish- ing stages of the life cycle of organizations. Each functioning enterprise at one time or another of its development is at one or another stage of the life cycle of the organization (LC). The article considers the main stages of the orga- nizational life cycle growth up to I. Adizes model and that of L. Greiner. The life cycle stages are correlated according to two concepts and possible issues arising at separate stages of development are identified; as well as the potential complications and their possible solutions through the digital technologies implementation and use. It should be noted that the introduction of digital technologies implies deep changes in the way the interaction of the external and internal environment of the enterprise works at all stages of the life cycle of the organization. The introduction of digital technologies can lead to the emer- gence of new business models for relationships between the company and its customers: customers have direct access to communication with the company, which facilitates the exchange of data between them, but at the same time it forces the enterprise to pay attention to its digital reputation and invest in it. It is revealed that the introduction of digital technologies in the organizational development of the enterprise requires the inculcation of a digital culture that supports that change: namely, an organizational culture suitable for the digital transformation of the enterprise. It is worth noting that in order to apply digi- tal technologies and benefit from them, it is extremely important that new tools are understood, accepted and adapted by employees to their daily work.

scholarly journals Pursuing Frugal Innovation for Sustainability at the Grassroots Level

2021 ◽  
pp. 1-8
Author(s):  
Mokter Hossain ◽  
Jarkko Levänen ◽  
Marleen Wierenga
Keyword(s):  
Developing Countries ◽  
Environmental Sustainability ◽  
Business Models ◽  
Business Strategies ◽  
Future Research ◽  
Frugal Innovation ◽  
New Business ◽  
Grassroots Level ◽  
Societal Problems ◽  
New Business Models

ABSTRACT Firms are often criticized for their reluctance to embrace sustainability in their business strategies. Frugal innovation is a recent concept that represents a new way for firms to serve underserved customers in developing countries while also promoting sustainability. Based on three cases of frugal innovation at the grassroots level in India, this article demonstrates how frugal innovation presents a promising way to tackle some of today's pressing societal problems with new business models. We use a range of parameters for economic, social, and environmental sustainability to strengthen the case for frugal innovation. This article attempts to inspire scholars to consider frugal innovation further in their future research endeavors and encourage firms to integrate it into their existing business models.

scholarly journals The Impact of Force Factors on the Benefits of Digital Transformation in Romania

2021 ◽  
Vol 11 (5) ◽  
pp. 2365
Author(s):  
Sorinel Căpușneanu ◽  
Dorel Mateș ◽  
Mirela Cătălina Tűrkeș ◽  
Cristian-Marian Barbu ◽  
Adela-Ioana Staraș ◽  
...  
Keyword(s):  
Perceived Risk ◽  
Industry 4.0 ◽  
Business Models ◽  
Structural Model ◽  
Digital Transformation ◽  
Sample Survey ◽  
Intention To Use ◽  
Online Questionnaire ◽  
Use Of Technology ◽  
The Impact

The digital transformation has produced changes in all existing areas of activity worldwide. There are many factors that can influence the intention to use Industry 4.0 processes and solutions and change the behavior of organizations and their business models. The aim of this study is to validate the econometric model on assessing the significant impact of distinct factors on the intention to use Industry 4.0 processes and solutions, the benefits of digital transformation perceived by organizational management and the differences between distinct groups analyzed. The research method used within the quantitative study was the sample survey, using the online questionnaire as a data collection tool. Three hundred forty-seven valid questionnaires were collected and the response rate of the respondents was 64.25%. A new structural model was generated based on the elements of the Unified Theory of Acceptance and Use of Technology (UTAUT). The results of the study indicated that Perceived competitiveness and Perceived risk have a significant impact on Intention to Use Industry 4.0 processes while Perceived vertical networking solutions and Perceived integrated engineering solutions have a significant influence on the Intention to Use Industry 4.0 solutions. In conclusion, there is a positive and significant association between Intention to Use Industry 4.0 solutions and Benefits of Digital Transformation.

How Digital Transformation Improves Perceptions of Oil and Gas Industry

2020 ◽  
Vol 72 (12) ◽  
pp. 33-33
Author(s):  
Chris Carpenter
Keyword(s):  
Digital Technology ◽  
Public Perception ◽  
Business Models ◽  
Oil And Gas ◽  
Digital Technologies ◽  
Oil And Gas Industry ◽  
Production Optimization ◽  
Petroleum Engineering ◽  
Co2 Injection ◽  
The Impact

The final afternoon of the 2020 ATCE saw a wide-ranging virtual special session that covered an important but often overlooked facet of the unfolding digitalization revolution. While the rising wave of digital technology usually has been associated with production optimization and cost savings, panelists emphasized that it can also positively influence the global perception of the industry and enhance the lives of its employees. Chaired by Weatherford’s Dimitrios Pirovolou and moderated by John Clegg, J.M. Clegg Ltd., the session, “The Impact of Digital Technologies on Upstream Operations To Improve Stakeholder Perception, Business Models, and Work-Life Balance,” highlighted expertise taken from professionals across the industry. Panelists included petroleum engineering professor Linda Battalora and graduate research assistant Kirt McKenna, both from the Colorado School of Mines; former SPE President Darcy Spady of Carbon Connect International; and Dirk McDermott of Altira Group, an industry-centered venture-capital company. Battalora described the complex ways in which digital technology and the goal of sustainability might interact, highlighting recent SPE and other industry initiatives such as the GAIA Sustainability Program and reviewing the United Nations Sustainable Development Goals (SDGs). McKenna, representing the perspective of the Millennial generation, described the importance of “agile development,” in which the industry uses new techniques not only to improve production but also to manage its employees in a way that heightens engagement while reducing greenhouse-gas emissions. Addressing the fact that greater commitment will be required to remove the “tougher two-thirds” of the world’s hydrocarbons that remain unexploited, Spady explained that digital sophistication will allow heightened productivity for professionals without a sacrifice in quality of life. Finally, McDermott stressed the importance of acknowledging that the industry often has not rewarded shareholders adequately, but pointed to growing digital components of oil and gas portfolios as an encouraging sign. After the initial presentations, Clegg moderated a discussion of questions sourced from the virtual audience. While the questions spanned a range of concerns, three central themes included the pursuit of sustainability, with an emphasis on carbon capture; the shape that future work environments might take; and how digital technologies power industry innovation and thus affect public perception. In addressing the first of these, Battalora identified major projects involving society-wide stakeholder involvement in pursuit of a regenerative “circular economy” model, such as Scotland’s Zero Waste Plan, while McKenna cited the positives of CO2-injection approaches, which he said would involve “partnering with the world” to achieve both economic and sustainability goals. While recognizing the importance of the UN SDGs in providing a global template for sustainability, McDermott said that the industry must address the fact that many investors fear rigid guidelines, which to them can represent limitations for growth or worse.

Risks of the Digitalization of Life of the Population and Ways of Decreasing Them

2021 ◽  
Vol 13 (4-1) ◽  
pp. 180-203
Author(s):  
Elena Stukalenko ◽  
Keyword(s):  
Quality Of Life ◽  
Digital Technologies ◽  
Well Being ◽  
Digital Economy ◽  
Digital Transformation ◽  
Negative Consequences ◽  
Short Period ◽  
The World ◽  
The Impact

Digital technologies, ubiquitous in our daily life, have radically changed the way we work, communicate, and consume in a short period of time. They affect all components of quality of life: well-being, work, health, education, social connections, environmental quality, the ability to participate and govern civil society, and so on. Digital transformation creates both opportunities and serious risks to the well-being of people. Researchers and statistical agencies around the world are facing a major challenge to develop new tools to analyze the impact of digital transformation on the well-being of the population. The risks are very diverse in nature and it is very difficult to identify the key factor. All researchers conclude that secure digital technologies significantly improve the lives of those who have the skills to use them and pose a serious risk of inequality for society, as they introduce a digital divide between those who have the skills to use them and those who do not. In the article, the author examines the risks created by digital technologies for some components of the quality of life (digital component of the quality of life), which are six main components: the digital quality of the population, providing the population with digital benefits, the labor market in the digital economy, the impact of digitalization on the social sphere, state electronic services for the population and the security of information activities. The study was carried out on the basis of the available statistical base and the results of research by scientists from different countries of the world. The risks of the digital economy cannot be ignored when pursuing state social policy. Attention is paid to government regulation aimed at reducing the negative consequences of digitalization through the prism of national, federal projects and other events.

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