scholarly journals Digital transformation of retail business: trends and technologies

2021 ◽  
Vol 16 (6) ◽  
pp. 123-131
Author(s):  
A. A. Paskova
Keyword(s):  
Business Models ◽  
Transformation Process ◽  
Digital Transformation ◽  
Retail Trade ◽  
Current Trends ◽  
Retail Business ◽  
Strategies For Change ◽  
Digital Processes ◽  
A Company ◽  
The Internet Of Things

Digital transformation penetrates into all spheres and industries, starting with finance, banking, media, education, manufacturing, healthcare, etc. Transition to digital technologies covers such aspects as organization of processes within a company, work with personnel, external communication. The term «digital transformation» in retail encompasses a range of business opportunities that go beyond mere focus on one technology or hidden strategy such as e-commerce or click-and-pick. Retail digital transformation strategy refers to the trend of creating new and innovative business models that blur the physical and digital worlds by retailers. Traditionally retailing has been among the leading industries in the field of innovation. The pandemic has accelerated the transformation process. Companies with scalable digital capabilities and infrastructure have adapted relatively well to the existing situation, while those who did not have them are forced to try not only to take immediate action, but also to develop their strategies for change. The pandemic has forced retailers to rethink their models digitally. The purpose of the research is to study the features of digital transformation of retail trade, to analyze its main trends. The article discusses current trends in retail digitalization, its key drivers and main problems. The technologies used have been analyzed: data analytics, artificial intelligence, the Internet of Things; examples of their application have been given. Possible ways of introducing digital processes in retail trade enterprises have been proposed.

scholarly journals Corporate digital responsibility (CDR) in construction engineering—ethical guidelines for the application of digital transformation and artificial intelligence (AI) in user practice

2021 ◽  
Vol 3 (10) ◽  
Author(s):  
Bianca Weber-Lewerenz
Keyword(s):  
Artificial Intelligence ◽  
Business Models ◽  
Research Question ◽  
Transformation Process ◽  
Digital Transformation ◽  
Fundamental Rights ◽  
Ethical Framework ◽  
Ethical Guidelines ◽  
Ethical Perspective ◽  
Construction Engineering

AbstractDigitization is developing fast and has become a powerful tool for digital planning, construction and operations, for instance digital twins. Now is the right time for constructive approaches and to apply ethics-by-design in order to develop and implement a safe and efficient artificial intelligence (AI) application. So far, no study has addressed the key research question: Where can corporate digital responsibility (CDR) be allocated, and how shall an adequate ethical framework be designed to support digital innovations in order to make full use of the potentials of digitization and AI? Therefore, the research on how best practices meet their corporate responsibility in the digital transformation process and the requirements of the EU for trustworthy AI and its human-friendly use is essential. Its transformation bears a high potential for companies, is critical for success and thus, requires responsible handling. This study generates data by conducting case studies and interviewing experts as part of the qualitative method to win profound insights into applied practice. It provides an assessment of demands stated in the Sustainable Development Goals by the United Nations (SDGs), White Papers on AI by international institutions, European Commission and German Government requesting the consideration and protection of values and fundamental rights, the careful demarcation between machine (artificial) and human intelligence and the careful use of such technologies. The study discusses digitization and the impacts of AI in construction engineering from an ethical perspective. This research critically evaluates opportunities and risks concerning CDR in construction industry. To the author’s knowledge, no study has set out to investigate how CDR in construction could be conceptualized, especially in relation to digitization and AI, to mitigate digital transformation both in large, medium- and small-sized companies. This study applies a holistic, interdisciplinary, inclusive approach to provide guidelines for orientation and examine benefits as well as risks of AI. Furthermore, the goal is to define ethical principles which are key for success, resource-cost-time efficiency and sustainability using digital technologies and AI in construction engineering to enhance digital transformation. This study concludes that innovative corporate organizations starting new business models are more likely to succeed than those dominated by a more conservative, traditional attitude.

scholarly journals RETAIL BUSINESS MODELS: ADAPTATION TO NEW CHALLENGES

2020 ◽  
Vol 133 (5) ◽  
pp. 77-88
Author(s):  
Iryna GANECHKO ◽  
Oksana TRUBEI
Keyword(s):  
Business Models ◽  
Rapid Change ◽  
Scientific Work ◽  
Integrated Approach ◽  
Retail Trade ◽  
Modern World ◽  
Retail Sector ◽  
Current Crisis ◽  
Retail Business ◽  
Crisis Conditions

Background. The retail sector in Ukraine is in crisis due to COVID-19. New risks and challenges have emerged that have put at risk the functioning of the trading industry. Therefore, there is a need to find ways to adapt and transform business models in retail to new, crisis conditions. Analysis of recent researches and publications. Peculiarities of trade business functio­ning in conditions of uncertainty, risks, and crises are actively studied by many scientists and practitioners. However, the issue of changing retail business models in the face of instability, which would allow companies to adapt to today’s challenges, remains insufficiently studied. The aim of the article is to study the process of transformation and adaptation of business models in retail to new economic realities, challenges, and threats associated with the situation around COVID-19. Materials and methods. The information base of this study was scientific work on the adaptation of business to modern conditions of instability and rapid change. The research methodology is based on a system of general scientific and special methods, in particular: analy­sis and synthesis; systematic and integrated approach. Results. The peculiarities of the instability of the modern world according to the VUCA concept, in particular its manifestations related to the COVID-19 pandemic, have been studied. The main threats to business development in the field of retail trade in the current crisis situation have been identified. Changes in business models in retail are proposed, which will help in adapting to difficult economic conditions and maintaining the competitiveness of retail enterprises in the consumer goods market. Conclusion. The necessity of transformational changes of business models in retail in order to adapt them to crisis conditions and ensure the survival of retail enterprises in today’s unstable world is proved.

Industry 4.0 From a Management Perspective

2022 ◽  
pp. 1-18
Author(s):  
Ilknur Taştan Boz ◽  
Özden Ibrahimağaoğlu
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Business Processes ◽  
Industrial Revolution ◽  
Organizational Structures ◽  
Transformation Process ◽  
Management Perspective ◽  
Fundamental Transformation ◽  
Transformation Processes ◽  
The Internet Of Things

Industries have undergone three fundamental transformation processes that were revolutionary. Following these processes, industries have been confronted with the phenomenon of Industry 4.0, known as the 4th Industrial Revolution, that is acknowledged as a new transformation process. The basic dynamics of this phenomenon include smart robots, simulation, the internet of things, cloud, additive manufacturing, and big data. It is of utmost importance for businesses that are involved in this process, that are new and trying to adapt to the process, to be prepared and adapt to the effects of Industry 4.0 dynamics. These dynamics lead to significant developments in business models, business processes, organizational structures, employees, and human resource processes. When Industry 4.0 and its dynamics are evaluated in general, businesses that follow the process and make necessary managerial adjustments will be ahead of the competition.

scholarly journals Transformation of Value in Innovative Business Models: The Case of Pharmaceutical Market

2021 ◽  
Vol 15 (3) ◽  
pp. 52-65
Author(s):  
Denis Klimanov ◽  
◽  
Olga Tretyak ◽  
Uri Goren ◽  
Timothy White ◽  
...  
Keyword(s):  
Value Creation ◽  
Value Chain ◽  
Success Factors ◽  
Business Models ◽  
Digital Transformation ◽  
Pharmaceutical Market ◽  
Technological Innovations ◽  
Key Success Factors ◽  
The World ◽  
A Company

Creating and developing innovative business models (BM) is currently one of the key success factors for contemporary business. Rapid complex changes in the world reemphasize the need to better understand how BM can be successfully innovated in different markets. The digital component of BM innovation comes under a special spotlight, using the example of a company within the pharmaceutical industry. In particular, this study demonstrates how BM innovation can be developed and implemented in practice within the pharmaceutical market, which accelerates its digital transformation to increase the value it brings to the healthcare systems around the world while sustaining the ongoing crisis. In order to do that, the current paper offers a framework for BM innovation that defines BM elements, BM innovation aspects, and BM innovation logic. The study covers six markets that represent different value creation systems and mechanisms. This paper demonstrates how technological innovations can be activated using managerial tools and insights and also how they can be combined into the holistic system based on the needs of the key value chain actors.

Creating a Research Laboratory on Big Data and Internet of Things for the Study and Development of Digital Transformation

2019 ◽  
pp. 339-358 ◽  
Author(s):  
Vardan Mkrttchian ◽  
Leyla Gamidullaeva ◽  
Svetlana Panasenko ◽  
Arman Sargsyan
Keyword(s):  
Big Data ◽  
Internet Of Things ◽  
Business Model ◽  
Research Laboratory ◽  
Business Models ◽  
Digital Transformation ◽  
The Internet ◽  
Technology Platform ◽  
The Cost ◽  
The Internet Of Things

This chapter discusses the problems associated with the design of the business model in the new context of big data and the internet of things to create a research laboratory for studying and improving digital transformations. The development of business prospects for IOT is due to two main trends: 1) the change of focus from IOT viewing primarily as a technology platform for viewing it as a business ecosystem and 2) the transition from focusing on the business model in general to the development of business models of ecosystems. In the chapter, the business model of the ecosystem is considered as a model consisting of signs fixed in ecosystems and focuses on creating the cost of the laboratory and fixing the value of the ecosystem in which the created laboratory operates.

Barriers in Digital Transformation

2021 ◽  
Vol 12 (4) ◽  
pp. 1-15
Author(s):  
Simin Sigari ◽  
Adnan Altunyurt ◽  
Lazar Rusu
Keyword(s):  
Research Study ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Structured Interviews ◽  
Team Members ◽  
Almost All ◽  
Digital Processes ◽  
A Company ◽  
Transformation Processes ◽  
Executives And Managers

In recent years, companies in almost all the industries have been exploring new ways to use digital technologies to generate value from digital investments. However, many companies are struggling to realize the digital transformation due to various existing barriers. They face many obstacles in the development and implementation of new digital processes. In cases where the companies fail to reflect upon these barriers, digital transformation processes carry the risk of not being realized successfully. Therefore, this study has looked to identify the barriers in digital transformation, in a company in the IT sector in Sweden. The data was collected through semi-structured interviews with the team members involved in digital transformation and from the company's documents, and then thematically analyzed. The findings of this research study are that there are 28 barriers in digital transformation from which 15 are new barriers that could support executives and managers who are planning a digital transformation in their organizations.

scholarly journals FASTEN IIoT: An Open Real-Time Platform for Vertical, Horizontal and End-To-End Integration

Sensors ◽  
2020 ◽  
Vol 20 (19) ◽  
pp. 5499
Author(s):  
Felipe S. Costa ◽  
Silvia M. Nassar ◽  
Sergio Gusmeroli ◽  
Ralph Schultz ◽  
André G. S. Conceição ◽  
...  
Keyword(s):  
Real Time ◽  
Industry 4.0 ◽  
Manufacturing Industry ◽  
Business Models ◽  
Production Systems ◽  
Transformation Process ◽  
Digital Transformation ◽  
Shop Floor ◽  
Decentralized Decision Making ◽  
End To End

The Industry 4.0 paradigm, since its initial conception in Germany in 2011, has extended its scope and adoption to a broader set of technologies. It is being considered as the most vital mechanism in the production systems lifecycle. It is the key element in the digital transformation of manufacturing industry all over the world. This scenario imposes a set of major unprecedented challenges which require to be overcome. In order to enable integration in horizontal, vertical, and end-to-end formats, one of the most critical aspects of this digital transformation process consists of effectively coupling digital integrated service/products business models with additive manufacturing processes. This integration is based upon advanced AI-based tools for decentralized decision-making and for secure and trusted data sharing in the global value. This paper presents the FASTEN IIoT Platform, which targets to provide a flexible, configurable, and open solution. The platform acts as an interface between the shop floor and the industry 4.0 advanced applications and solutions. Examples of these efforts comprise management, forecasting, optimization, and simulation, by harmonizing the heterogeneous characteristics of the data sources involved while meeting real-time requirements.

scholarly journals Digital transformation in supply chains: Current applications, contributions and challenges

2021 ◽  
Vol 9 (1) ◽  
pp. 32-55
Author(s):  
Özden Özkanlısoy ◽  
Erkut Akkartal
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Supply Chains ◽  
Business Models ◽  
Transformation Process ◽  
Digital Transformation ◽  
Chain Management ◽  
New Business ◽  
Near Future ◽  
New Business Models

Digital transformation in supply chain management enables businesses to achieve competitive advantage by using their resources more efficiently, to make every stage of their supply chain smarter, more transparent and more efficient, to be closer to individual customer needs, to provide a significant increase in decision-making quality, and to become increasingly flexible in the near future. and provides the advantages of having new business models that will be efficient.Unfortunately, today digital transformation is at the stage of digitization rather than digital transformation due to the high initial investment cost and concerns about the success of applications. In this study, successful digital transformation applications implemented in supply chain management to guide companies and supply chains that have not yet entered the digital transformation process, the advantages provided by these applications and the difficulties of the digital transformation process are discussed.In the study, using qualitative data analysis, open-ended interview questions were applied to a total of 28 companies, and the answers were separated on the basis of sectors and applications and new business models were grouped according to sectors. The advantages of the companies and their supply chains with digital transformation and the difficulties faced in the transformation process are discussed jointly to cover all sectors. The study ends with an evaluation and brief summary of the findings.

scholarly journals Transformation of Business Models of Retail Enterprises in the Conditions of Digitalization

2020 ◽  
Vol 10 (513) ◽  
pp. 384-391
Author(s):  
N. V. Proskurnina ◽  
Keyword(s):  
Customer Service ◽  
Value Creation ◽  
Value Chain ◽  
Business Models ◽  
Retail Trade ◽  
Digital Revolution ◽  
Shopper Marketing ◽  
Retail Business ◽  
On Line ◽  
Self Service

The article is aimed at generalizing the theoretical and practical principles of transformation of business models of retail enterprises in the digitalization of the economy. The determinants of innovative transformation of retail business models are characterized, which allow, based on internal and external conditions, to critically rethink and adjust the basic principle by which value is created. The need to search for ideas of the latest business models of retail trade, on the basis of which enterprises will be able to be successful and grow rapidly in the conditions of digitalization, is proved. A scientific generalization and systematization of business models of value creation in both off-line and on-line channels is carried out. According to the model of Graf and Schneider, a value chain is defined, which is based on the following primary activities: supply (range, focused on demand); presentation of the product (photo of the product, listing, recommendations, text); marketing and sales (off-line marketing, on-line marketing, sales channels); executing sale and purchase (issue of check, payment methods, risk analysis); logistics (delivery of goods, management of return of goods); customer service (dialogue with the client in social networks, hot-line, chat, on-line self-service). These determinants in the course of value creation can be materialized on the basis of innovative approaches, through multichannel sales, use of brands, pricing management, integration of customers into various processes and shopper marketing (buying marketing), which allows to focus on the decision-making process from the first opinion of the consumer about the purchase of goods and further on, during making the choice. It is noted that the rapid response to changes, the proactive search for new ideas and high readiness for digitalization are triggers of the successful transformation of the business model of retailers in the digital revolution. As the main competencies at the retail enterprises the author defines innovation, digital intelligence and personalization, which must be adequately used to win the competition.

scholarly journals Digital Business Model, Digital Transformation, Digital Entrepreneurship: Is There A Sustainable “Digital”?

2020 ◽  
Vol 12 (13) ◽  
pp. 5239 ◽  
Author(s):  
Peter M. Bican ◽  
Alexander Brem
Keyword(s):  
Conceptual Framework ◽  
Business Model ◽  
Digital Technology ◽  
Business Models ◽  
Transformation Process ◽  
Digital Transformation ◽  
High Tech ◽  
Business Units ◽  
Prior Literature ◽  
Digital Entrepreneurship

Digitalization plays a major role in contributing towards the United Nations Sustainable Development Goals. Without transformation of existing businesses, both economic and environmental challenges of the future cannot be solved sustainably. However, there is much confusion on interrelationships and terms dealing with digitization or digitalization: Digital business model, digital transformation, digital entrepreneurship. How do these terms interrelate with and to digitalization, and how do they support firms to grow sustainably? To answer this question, we identified seven core digital-related terms based on a structured literature search within the management and economics domain, namely: Digital, Business Model, Digital Business Model, Digital Technology, Digital Innovation, Digital Transformation, and Digital Entrepreneurship. Thereafter, we analyzed prior literature for deriving a common understanding and definition as a basis for interrelations within a conceptual framework. Definitions were presented in a case study setup with twelve innovation and research and development (R&D) managers from various business units of a German high-tech company. Based on these insights, we propose a conceptual framework on how Digital Readiness, Digital Technology, and Digital Business Models might sustainably relate to Innovation, moderated by a Digital Transformation Process. With this approach, we aim to equip practitioners and researchers alike in handling and addressing change through digitalization sustainably.

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