Res-Technol Manag 54(3):3643, Evens T (2010) Value networks and changing business models for the digital television industry. Small Bus Econ 45(2):279304, Ng IC, Wakenshaw SY (2017) The Internet-of-Things: review and research directions. The two words DIGITAL TRANSFORMATION might be enough to strike fear into even the most forward-thinking retail leaders - but with Private Equity's renewed interest in the sector, what are the steps Retail portco executives and PE firms themselves take to undergo radical transformation? 1999). It would be interesting to use other theoretical angles, for example from the literature on corporate entrepreneurship and technological disruption, in order to increase theoretical diversity. In this study, we conceptualize digital transformation at the intercept of the adoption of disruptive digital technologies on the one side and actor-guided organizational transformation of capabilities, structures, processes and business model components on the other side. Technol Forecast Soc Change 116:116128, Vey K, Fandel-Meyer T, Zipp JS, Schneider C (2017) Learning and development in times of digital transformation: facilitating a culture of change and innovation. People love strong, brave leaders. For the purpose of data collection, we exclusively limit our focus on peer-reviewed academic journals as recommended by McWilliams et al. In comparison to an informatic culture, an informational culture values IT as a core element of strategic and tactical decisions and clearly understands the financial and transformative potential of digital technologies. What Really Matters: Private Equity on Apple Podcasts Xiaoqian Lu 1, . 2008; Cui and Pan 2015). MIS Q Exec 15(2):105121, Siebels J, Knyphausen-Aufse D (2012) A review of theory in family business research: the implications for corporate governance. A corporate entrepreneurship approach to organizational renewal. Inf Manag 52(2):200209, Daniel EM, Wilson HN (2003) The role of dynamic capabilities in e-business transformation. Product disruptiveness encompasses new product classes, product substitutions, or fundamental product improvements. In fact, despite technological advancements, many people still prefer face-to-face communication. Many times, the poor results can be attributed to one or more of these reasons. This question is not addressed by current research at all. In this sense, information ubiquity (Vey et al. Creating engaging and familiar user experiences is crucial for the success of these new interactions. MIS Q Exec 3(3):151160, Rayna T, Striukova L (2016) From rapid prototyping to home fabrication: how 3D printing is changing business model innovation. Whenever disagreements emerged regarding the inclusion or classification of an article, we engaged in discussion and tried to resolve the issue together to make our selection rules more reliable. Emerging FinTech companies are putting banks under intense competition, capitalizing on their inability to keep up with digital innovation. Given the complexity and explosive pace of digital technologies, there is a threat of a growing skills gap between pre-digitization workers and recently hired digitally savvy employees (Kohli and Johnsons 2011). The last paper studies the effect of review tag functions on product evaluation and information perception of products with experimental methods and qualitative analysis. Digital transformation: a review, synthesis and opportunities for 2013). Human billboards, sign spinners, and window promotions will not be as effective for the businesses that previously relied on them to capture the attention of passers-by. Eur J Inf Syst 12:297308, Bartunek JM, Rynes SL, Ireland RD (2006) What makes management research interesting, and why does it matter. We updated the review in the autumn of 2018 for any articles that had appeared between then. The political dimension of the digital transformation of the rural world: advances and challenges 16/11/2022 In the framework of FAO's first virtual fair "+Rural +Digital: Promoting the integration of the rural world", a discussion on the "Political dimension of the digital transformation of the rural world: advances and challenges" was held on . Digital technologies are considered a major asset for leveraging organizational transformation, given their disruptive nature and cross-organizational and systemic effects (Besson and Rowe 2012). At Crowd Favorite, we build the future of the digital experience. In more general terms, we may conclude that control of value in the digital world is less and less determined by R&D capabilities, competitors, or industry boundaries. The paper systematically reviews 58 peer-reviewed studies published between 2001 and 2019, dealing with different aspects of digital transformation. J Bus Ventur 10(1):4358, Zahra SA, Nielsen AP, Bogner WC (1999) Corporate entrepreneurship, knowledge, and competence development. Digital transformation high-level thematic map emerging from the analysis of the literature. 2017). In fact, as already discussed, studies on technological disruption indicate that in order to successfully integrate, commercialize or develop disruptive technologies incumbents need to create organizations that are completely independent from but interconnected in one way or another with the mainstream business (Bower and Christensen 1995; Gans 2016; Gilbert and Bower 2002; Hill and Rothaermel 2003). To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/. Clients will look back at their time of need and remember who was there, helping them get through hardship. A kind of old-school mentality is creeping over a huge number of organizations. Early in 2022 NIST embarked on a pilot project to produce digital calibration reports and certificates of analysis for reference materials. In 2017, the digital subsidiary was reincorporated in the parent organization as a digital unit with the goal to apply their digital knowledge to transform the traditional business segments. Digital McKinsey. MIS Q 37(2):511536, Moreau F (2013) The disruptive nature of digitization: the case of the recorded music industry. For example, Sia et al. New Technol Work Employ 8(1):1020, Downes L, Nunes P (2013) Big bang disruption. As different types of innovation networks with different cognitive and social translations regarding knowledge emerge, novel properties of digital infrastructure in support of each network are required. However, we believe that within the limited scope of a review our broad thematic description nevertheless adds value to the advancement of this field and should rather be seen as a holistic starting point for future research to dive deeper into the characteristics of sub-themes of digital transformation. The cloud is important, too. However, according to a survey (Capgemini Consulting 2013) this lack of alignment with digital strategy is rather worrisome. Digital Transformation: An Overview of the Current State of the Art of We see this as a major gap, since the middle layers of management are where the action is (Floyd and Wooldridge 1999, p. 124). This website uses cookies to improve your experience while you navigate through the website. Responsibilities for skills transformation and development in times of digitization need to be clearly defined and allocated. 2017; Tumbas et al. 2003). https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/a-ceo-guide-for-avoiding-the-ten-traps-that-derail-digital-transformations. Although these are big questions without easy answers, Salesforce can partner with you on this journey. Hence, a cooperation between start-ups and incumbents may be beneficial for both parties. Enterprise Digital Experiences in a Modern World. In the following, we present and discuss the most important findings of the second order themes within the actor-centric dimension. Int J Inf Manag 35(6):672678, Doherty NF, King M (2005) From technical to socio-technical change: tackling the human and organizational aspects of systems development projects. 2017)in comparison to the analogue world. Use the Previous and Next buttons to navigate the slides or the slide controller buttons at the end to navigate through each slide. One of the permanent difficulties and opportunities of digital banking is finding a middle ground where banks can serve the needs of all their clients and still accelerate transformation at the same time. Burdened with the legacy of old technology, bureaucratic structures and core rigidities (Leonard-Barton 1992), incumbents may face major challenges in this respect during their digital transformation journey. Commun Assoc Inf Syst 37(1):9, von Krogh G, Rossi-Lamastra C, Haefliger S (2012) Phenomenon-based research in management and organisation science: when is it rigorous and does it matter? Corporate entrepreneurship proposes a closer cooperation and regular exchange between incumbents and start-ups in order to accelerate entrepreneurial transformation (Engel 2011; Kohler 2016). Incorporating mobile, cloud and social channels increases the possible attack surface tremendously. Acad Manag J 49:915, Bennis W (2013) Leadership in a digital world: embracing transparency and adaptive capacity. This is a significant issue for effective public services as we move deep into the twenty-first century. A couple of topics are particularly interesting for future research: How, when and why are incumbents able/unable to mitigate a growing skills gap and employee divide in the face of digital transformation? For example, reaching out to customers in a digital environment requires digital omnichannel marketing, including e.g. This very large sample was mainly due to the broad ambiguity of the terms digital and disrupt. Additionally, as older populations adopt digitization and connected devices, they see a more enhanced quality of life and security. This will require higher operational transparency in daily-business and work-routines and a data-sharing mindset among employees. When trying harder is part of the problem. 0 likes, 0 comments - METES - Metropolia Entrepreneurship Society (@wearemetes) on Instagram: " The concept of the Metaverse has captivated our imaginations and . For each area, we propose a set of research questions. Information Systems and e-Business Management As people become more sophisticated along their digital journey, their habits will change. Long Range Plan 49(3):342360, Kauffman RJ, Walden EA (2001) Economics and electronic commerce: survey and directions for research. Demand is growing and so are the opportunities in this new digital world. According to White (2012), a digital workplace must be adaptive, compliant, imaginative, predictive, and location-independent. Int J Innov Manag 17(1):1340002-11340002-34, Guth WD, Ginsberg A (1990) Guest editors introduction: corporate entrepreneurship. Oxford University Press, New York, Yeow A, Soh C, Hansen R (2018) Aligning with new digital strategy: a dynamic capabilities approach. In: Technology, organizations and innovation. We abstained from including digital innovation in our search (the only exception in our sample is a recent literature review by Kohli and Melville (2019), in order to capture consolidated insights). Int J Adv Corp Learn 9(2):2733, Shaughnessy H (2016) Harnessing platform-based business models to power disruptive innovation. Int J Inf Manag 37(2):9297, Li L, Su F, Zhang W, Mao JY (2017) Digital transformation by SME entrepreneurs: a capability perspective. As such, future researchers may apply alternative approaches to review and synthesize the existing literature on digital transformation. Corporate venture capital and investing firm innovation rates. We especially thank Professor Michael J. Shaw, who is extremely supportive of this special issue. Which mindset and digital literacy do middle managers need to be the driving force behind digital transformation? It is through digital transformation organizations can get lean and mean, allowing them to not just get through this period but come out the other side an optimized version of themselves. 2016; Dremel et al. Managing Digital Transformation: Challenges and Choices in First, we adopt an inductive approach and conduct a systematic literature review (following Tranfield et al. Management is well advised to prevent that two different cultures arise within the same organizationa group of employees who understand digital technologies and those who have a long-standing track record in the traditional business but are technologically lagging behind. In other words, and in line with Hess et al. This is a BETA experience. Within these dimensions, we reveal nine core themes which help to disentangle the particularities of digital transformation processes and thereby emphasize the most influential and unique antecedents and consequences of this specific type of transformation. In this sense, in the digital world striving for a first-mover advantage due to a winner takes it all environment has become more important for incumbent firms (Grover and Kohli 2013) as they have much less time to respond to such threats and should not give away first-mover advantages too easily. Embracing Digital Transformation: Empowering Local - LinkedIn ), leaders today are significantly more exposed publicly than their analog predecessors. With regards to the customer interface, which is currently receiving the highest levels of attention by scholars, we conclude that there is some solid research particularly on changes in consumer behavior (Berman 2012; El Sawy et al. And how could incumbents incorporate these best practices and lessons learned? Our review is not without limitations. The filters during our selection process included (1) scanning the titles, (2) reading abstracts, (3) removing duplicates, (4) full reading and in-depth analysis of the remaining papers, and finally (5) cross-referencing and backward searching by looking through the bibliographies of the most important articles to find additional relevant work. Provided by the Springer Nature SharedIt content-sharing initiative, Over 10 million scientific documents at your fingertips, Not logged in A systematic review is a type of literature review that applies an explicit algorithm and a multi-stage review strategy in order to collect and critically appraise a body of research studies (Mulrow 1994; Pittaway et al. We anticipate the benefits of this digital transformation to extend beyond the pandemic, offering new economic growth opportunities and improving the overall quality of life. Int J Manag Rev 16(3):249264, Karimi J, Walter Z (2015) The role of dynamic capabilities in responding to digital disruption: a factor-based study of the newspaper industry. Accordingly, future research could benefit from adopting a phenomenon-based research strategy as proposed by von Krogh et al. For example, managers are encouraged to protect disruptive technologies from the processes and incentives that are targeted to serve established customers. Digital transformation can be difficult. To see more details, click Learn More. Part of Springer Nature. First, based on discussion among the authors and the reading of a few highly-cited papers, we designed our search criteria using combinations of keywords containing digital* AND transform*, digital* AND disrupt*, digitalization, and digitization. MIS Q 38(2):329A15, Fisch C, Block J (2018) Six tips for your (systematic) literature review in business and management research. Strateg Manag J 22:479491, Holm AB, Gnzel F, Ulhi JP (2013) Openness in innovation and business models: lessons from the newspaper industry. J Strateg Inf Syst 24(3):149157, Lucas HC Jr, Goh JM (2009) Disruptive technology: how Kodak missed the digital photography revolution. Many adjusted to a remote operating model, but some sectors found the transition difficult, especially without a digital transformation framework in place. CDs, books, machinery etc. Today, innovative ideas can be realized within days and companies set-up literally overnight. Hence, we argue that two perspectives of digital transformation within organizations must be captured: a technology-centric and an actor-centric perspective. MIS Q 37(2):617632, Par G, Trudel MC, Jaana M, Kitsiou S (2015) Synthesizing information systems knowledge: a typology of literature reviews. Another important contribution of our paper is bringing different lenses together by integrating knowledge from related disciplinary areas outside IS management, such as technological disruption and corporate entrepreneurship. In the past, leadership programs have been primarily about leadership and communication skills. Thematic map for technology-driven themes in digital transformation literature. 2002, 2009; Shimizu 2012). May 30, 2023 by Brian Hamlin, CU Management. 2017), and ecosystems (El Sawy et al. In the course of the past two decades information technologies have surpassed their subordinate role as administrative back office assets and evolved into an essential element of corporate strategy building. External support, in terms of policies, to help .
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