scholarly journals The Digital Transformation of Marketing: Impact on Marketing Practice & Markets

ECONOMICS ◽  
2019 ◽  
Vol 7 (2) ◽  
pp. 139-156
Author(s):  
Tom Gillpatrick
Keyword(s):  
Value Chain ◽  
Global Economy ◽  
Consumer Demand ◽  
New Technology ◽  
Critical Role ◽  
Digital Transformation ◽  
Business Practices ◽  
Marketing Practice ◽  
Digital Disruption ◽  
The Impact

Abstract Digital technology technologies and business practices are expected to radically transform the competitive landscape and society. Central to changing business practices is how digital technologies are transforming the practice of marketing which in turn is transforming the nature of markets globally. This paper, guided by the literature concerning the wave of digital disruption brought about by new technology, changes in consumer demand and new forms of business competition discusses industry level and macroeconomic impact of the digital transformation of marketing. The drivers of the digital transformation in marketing, the critical role of understanding the consumer value chain relative to marketing practice and the impact of changing business practices on the larger economy. A new model developed by (Teixeira, 2019) to assess consumer demand is described as a marketing practice innovation that can be used to gain new insights for innovation and marketing. These innovations in gaining market insights and in marketing strategies are discussed regarding implications for industry and macroeconomic policy. The authors call for calls for further research using this methodology to better understand how digital disruption is likely to impact firm competitiveness and the nature of larger global economy.

Accounting Professionals and Digital Maturity: insight from the reflections of digital transformation / Profissionais Contábeis e Maturidade Digital: insights sobre os reflexos da transformação digital

2021 ◽  
Vol 3 (4) ◽  
pp. 3009-3029
Author(s):  
Gisleise Aguiar ◽  
Luis Gouveia ◽  
Fabio Rodrigues
Keyword(s):  
Digital Technology ◽  
State Of The Art ◽  
New Technology ◽  
Critical Role ◽  
Digital Transformation ◽  
Postgraduate Students ◽  
Accounting Professionals ◽  
Building Models ◽  
New Challenges ◽  
The Impact

The digital transformation has introduced new challenges and significant changes for society, intensified in this time of (post) pandemic (COVID-19). Among these challenges, the process of learning new technology by professionals, known as digital maturity, has taken on a critical role. It is a fact that digital maturity and digital transformation are not the same thing, but are intimately connected, as both are essential in the current business context.Despite the relevance of the matter, state of the art focuses, mainly, on building models to evaluate the digital maturity of organizations, reducing the prospect of impacts on the professionals. The goal of this research seeks firstly to evaluate studies on digital technology and their impacts on accounting. For this, bibliographical research was carried out based on Scopus and Science Direct examining the relevant publications on digital technology and accounting. Next, we analyzed the results found on the research conducted with accounting postgraduate students in order to understand their level of digital maturity regarding the technologies in evidence in the current market. The analyses revealed that, despite the impact, accounting professionals are still quite unaware of or have limited knowledge about these technologies and consequently the reflexes on their profession.

The impact of financial and technological mergers and acquisitions on the world digital economy

2021 ◽  
Vol 14 (2) ◽  
pp. 174-189
Author(s):  
Natal'ya A. KHUTOROVA ◽  
Nikolai A. ROGASHKOV
Keyword(s):  
Global Economy ◽  
Banking Sector ◽  
Digital Economy ◽  
Digital Transformation ◽  
Payment Systems ◽  
Digital Inequality ◽  
Social Risks ◽  
High Volatility ◽  
Percent Contribution ◽  
The Impact

Subject. The COVID-19 pandemic brought IT companies to the leadership positions in terms of many aspects, as they contribute to a new reality and the development of digital economy. It also catalyzed the emergence of large ecosystems among financial institutions and technological giants. The M&A market mainly starts to shape global processes of the global economy digitalization, urging to scientifically comprehend the processes. Objectives. We conduct the critical analysis of the way the M&A market influences the digitalization of the global economy. Methods. Studying the M&A in the Fintech and Techfin segments, we applied methods of analysis, comparison and systematization of the information. Results. We revealed key trends in digital M&A deals, describe the impact and development of such processes in the Russian practice. Conclusions and Relevance. Every year M&A deals in the financial sectors and among IT corporations generates and raises over USD 250 billion in investment, thus making almost a 20-percent contribution to a growth in the digital economy. We found some understudies risks arising from digital M&A deals, such as deal planning risks synergy assessment risks, high volatility risks associated with prices for new companies, compliance risks, digital inequality risk and new social risks. Considering the Russian specifics and predominant positions of the banking sector, the digital transformation in Russia is noted to take place through the FinTech sector gaining momentum. To accelerate the digital constituent, it is reasonable to take the following efforts: introducing the digital Ruble as announced by the Bank of Russia, outlining a programs for supporting and encouraging national IT companies to develop non-banking payment systems and accelerate the digital transformation, connecting not only credit institutions, but also digital developers to the quick payment system of the Bank of Russia.

scholarly journals Early Adopters to Early Majority - What's Driving the Artificial Intelligence and Machine Learning Powered Transformation in Financial Services?

2021 ◽  
Vol 12 (4) ◽  
pp. 43
Author(s):  
Srikrishna Chintalapati
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Portfolio Management ◽  
Value Chain ◽  
Financial Services ◽  
Retail Banking ◽  
Early Adopters ◽  
Customer Life Cycle ◽  
Digital Disruption ◽  
The Impact

From retail banking to corporate banking, from property and casualty to personal lines, and from portfolio management to trade processing, the next wave of digital disruption in financial services has been unleashed by the concepts and applications of Artificial Intelligence (AI) and Machine Learning (ML). Together, AI and ML are undoubtedly creating one of the largest technological transformations the world has ever witnessed. Within the advanced streams of research in AI and ML, human intelligence blended with the cognitive reasoning of machines is finally out of the labs and into real-time applications. The Financial Services sector is one of the early adopters of this revolution and arguably much ahead of its leverage compared to other sectors. Built on the conceptual foundations of Innovation diffusion, and a contemporary perspective of enterprise customer life-cycle journey across the AI-value chain defined by McKinsey Global Institute (2017), the current study attempts to highlight the features and use-cases of early-adopters of this transformation. With the theoretical underpinning of technology adoption lifecycle, this paper is an earnest attempt to comment on how AI and ML have been significantly transforming the Financial Services market space from the lens of a domain practitioner. The findings of this study would be of particular relevance to the subject matter experts, Industry analysts, academicians, and researchers focussed on studying the impact of AI and ML in the financial services industry.

scholarly journals The impact of the COVID-19 pandemic on digital globalization

2021 ◽  
Vol 129 ◽  
pp. 06008
Author(s):  
Maria Loredana Popescu ◽  
Svetlana Platagea Gombos ◽  
Sorin Burlacu ◽  
Amza Mair
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Value Added ◽  
Digital Transformation ◽  
Lessons Learned ◽  
Health Crisis ◽  
Main Research ◽  
Documentary Analysis ◽  
The Impact

Research background: After more than a year of the Covid-19 pandemic, we can investigate whether it caused a shock to the global economy, pushing for deglobalization, or on the contrary, it was a challenge for digital globalization and digital transformation of economies. Through this research we join the research contributions that examine the process towards digital globalization that characterizes the world economy, its impact on businesses, consumers, and governments. We also discuss the challenges posed by the crisis caused by the coronavirus pandemic to globalization and perhaps the acceleration of the digital transformation of economies. Purpose of the article: The aim of this research is to highlight the impact of the COVID-19 pandemic in the age of digital globalization. Methods: Documentary analysis, as the main research method, is doubled by a case study that allows us to highlight the specific characteristics of digital globalization. Findings & Value added: The findings of the research allowed us to highlight the essential aspects of digital globalization that were perhaps exacerbated by the Covid-19 pandemic, but which contribute greatly to understanding the phenomenon of globalization. Our research also reveals four lessons learned in the COVID-19 pandemic. We also present some considerations regarding the globalization after the health crisis.

The specificity of the digital transformation of the public sector

2021 ◽  
Vol 150 (3) ◽  
pp. 1-23
Author(s):  
Katarzyna Śledziewska ◽  
Renata Włoch
Keyword(s):  
Public Sector ◽  
Public Administration ◽  
Main Part ◽  
New Technology ◽  
Digital Technologies ◽  
Digital Transformation ◽  
The Internet ◽  
The Public ◽  
The Subject ◽  
The Impact

In this article we focus on identifying the specificity of digital transformation within the public sector. The aim of the article is to present the main mechanisms resulting from the introduction of digital innovations that have changed the functioning of the public sector. Starting from a discussion on the technological requirements of digital transformation, we briefly characterise the use of computers and the Internet in public administration, resulting in the development of e-services and administration. The main part of the article is devoted to discussing the specificity of the implementation of the new digital technologies in public administration, focusing mainly on artificial intelligence and blockchain technologies. Our thesis is that the impact of innovative digital technologies on the operation standards and structure of public administration should be analysed through the prism of interrelated mechanisms of datafication and platformisation, characteristic for the digital economy. The adopted methodology, which is based on an analysis of the subject literature and an analysis of new technology implementations in public administration in EU countries, indicates the pilot, random and non-transformational nature of these implementations, partly due to the lack of well-established methodologies to study and assess the maturity of digital transformation within the public sector.

Design for Supply Chain: Evaluation of Supply Chain Metrics

2008 ◽  
Author(s):  
Karthik Manohar ◽  
Kosuke Ishii
Keyword(s):  
Supply Chain ◽  
Product Design ◽  
Value Chain ◽  
Global Economy ◽  
Customer Value ◽  
Quality Function Deployment ◽  
Critical Role ◽  
Future Research ◽  
Value Chain Analysis ◽  
Social Environmental

This paper describes the first phase of the authors’ Design for Supply Chain research that seeks to address supply chain excellence the product design process. In a global economy, companies must address supply chain issues beyond the traditional viewpoint of logistics, trucking, warehousing and include other considerations that affects design and manufacturing decisions. To include supply chain perspectives in the design of products and manufacturing processes, supply chain performance data play a critical role. This paper examines the source of data pertinent to design for supply chain using methods such as Customer Value Chain Analysis and Quality Function Deployment. A multi-industry benchmarking study also highlights the different approaches to Design for Supply Chain and emerging challenges of Social and Environmentally Responsible Supply Chains. The study revealed that lead time, quality and social/environmental metrics are the most important metrics for design for supply chain. Future research will address the refinement of metrics, the definition of the relevant data for product design, and effective approaches to incorporate the information into the product definition process.

scholarly journals Społeczeństwo i kultura jako definicyjny kontekst badań nad wpływem technologii na ponowoczesnego człowieka

2021 ◽  
Vol 65 (1) ◽  
pp. 197-211
Author(s):  
Paweł Piotr Nowak ◽  
Keyword(s):  
Social Relations ◽  
Service Sector ◽  
Social Inequalities ◽  
New Technology ◽  
Digital Transformation ◽  
Negative Consequences ◽  
Philosophy Of Dialogue ◽  
Definition Of ◽  
The Individual ◽  
The Impact

Based on an analysis of selected definitions of the terms used for society and culture, the author creates the sociological theoretical framework for the article. In conjunction with the characterized phenomenon of digital transformation, extensive and far-reaching conclusions are formulated on the impact of new technology for postmodernity. In relation to the scientific achievements of Buber and Tischner, the author deeply analyzes the assumptions of philosophy of dialogue. This allows the observation of a wide dimension in the relationship between the relational nature of social relations, the condition of the individual, the durability of the systems humans create, the technocratic direction of civilizational development and the consumerist attitude to reality in contemporary society of the 21st century. The author describes technological worship and presents the negative consequences of digital transformation processes. On the example of the service sector, the transition is presented as symbolic culture based on the relations and dialogue with technical and functional culture. The research method used in the article is a review of the scientific literature. In the study, the author set the goal of determining the impact of digital transformation on humans in the context of the definition of culture and society. As a result of the research, the author states that technological insight (i.e. looking at technology as a way of resolving all contemporary problems) has the danger of successively weakening man, and could lead to a deepening of social inequalities. The author also emphasizes the need to deepen research on the consequences of the digital transformation on society and culture and to develop models that can reduce the negative consequences of the change process.

Holistic, Continuous Assurance Integration: e-Business Opportunities and Challenges

2002 ◽  
Vol 16 (s-1) ◽  
pp. 1-20 ◽  
Author(s):  
Marilyn M. Greenstein ◽  
Amy W. Ray
Keyword(s):  
Value Chain ◽  
Organizational Structures ◽  
Business Environment ◽  
Business Practices ◽  
Global Business ◽  
Accounting Firms ◽  
Accounting Firm ◽  
Assurance Services ◽  
Client Firm ◽  
The Impact

This paper explores the impact of web-based e-business operations on client firm processes and accounting methods, and addresses related issues for accounting firm assurance services teams to consider. In particular, some of the complications and potential problems associated with the use of traditional assurance methods on e-businesses with digital operating environments are discussed. The flexibility required to respond to the everchanging business environment of e-enabled client firms will require accounting firm leaders to rethink and reengineer existing management structures and practices. While clients of accounting firms are realizing tremendous value by streamlining information flows and increasing information sharing internally and externally, accounting firms remain organized primarily into discreet functions that often compete internally for customers. An e-business model, the Customer-Oriented Value Chain, is employed to frame the discussion of emerging accounting issues resulting from new digital business practices. Within this context we develop 16 propositions regarding potential methods accounting firms may consider applying for two purposes: (1) better alignment of traditional assurance practices with client firm e-business activities, and (2) better integration of existing assurance offerings. Subsequently, the challenges associated with offering integrated assurance services given current accounting firm organizational structures is discussed and a model of suggested organizational changes to accounting firms is presented. This model is inspired by the CPA Vision Project, the AICPA's Certified Information Technology Professional (CITP) designation, and the new Global Business Credential initiatives, and is intended to serve as a prototype upon which to build improved organizational structures. Some of the potential benefits of reorganization and better services integration include more efficient use of firm resources, greater profitability, more efficient associate training, a clearer understanding of client business processes, and greater value provision to clients.

scholarly journals Digital information security: korona-crisis impact on the accountants, business analysts and auditors training

2021 ◽  
Vol 5 (S4) ◽  
Author(s):  
Karina Nazarova ◽  
Mariia Nezhyva ◽  
Tetіana Metil ◽  
Volodymyr Hordopolov ◽  
Liudmyla Prystupa ◽  
...  
Keyword(s):  
Development Strategy ◽  
Computer Technology ◽  
Driving Forces ◽  
Economic Transformation ◽  
Digital Transformation ◽  
Business Practices ◽  
Digital Information ◽  
Global Pandemic ◽  
The Impact ◽  
Transformation Processes

The article considers the impact of transformation processes on business in the context of digitalization. Equally important is the study of the impact of these processes on the training of professionals whose work has had a direct impact on these transformations – accountants, business analysts and auditors. These specialists are faced with the task of analyzing the impact of the facts and determining the change in business development strategy in the context of global digitalization. The field of audit both in the world, in general, and in Ukraine, in particular, was able to adapt extremely flexibly to the new realities of functioning in the digitalized world. In this article, the authors reveal the main trends of digitalization of audit in the conditions of economic transformation and limited business practices caused by this global pandemic of 2019-2020. At the same time, the processes of digital transformation are the driving forces of the economy. Computer technology is becoming increasingly involved in reforming the audit institution and changing the trajectory of the auditor's role in such a society.

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.

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