Topic: Digital transformation of traditional business
1 State and provide background information for the digital transformation of traditional business.
2 What are the current theories and areas of debate for the digital transformation of traditional businesses?
3 Are there particular industries or technologies that will be impacted by digital transformation? If this impact is positive, how can it be maximized: and if negative, how can this impact be mitigated?
Approx 500 to 800 words. Please include references
Source of Topic:
Andal-Ancion, A., Cartwright, P. A., & Yip, G. S. (2003). The digital transformation of traditional business. MIT Sloan Management Review, 44(4), 34-41. Retrieved from ABI/INFORM Global database.
This paper evolves from a study of large corporations in North American and Europe. It identifies 10 factors that can help use new information technology (NIT) for competitive advantage that transforms businesses. It illustrates the importance of businesses choosing the right set of technologies that would give them competitive advantage. The paper also focuses on the mediation strategy that must be used to deploy the NIT's effectively.
The digital transformation of traditional business is simply a renewed focus on the consumer and the human side of business. Over the years, there has been a realignment of new investments in technology to effectively engage in dialog with digital customers as they progress through the customer experience lifecycle. According to Solis (2014) "understanding the digital customer experience is one of the primary catalysts for businesses placing substantial investments in digital transformation". Digital transformation is important because it necessitate big changes within an organization by compelling them to habituate in order to remain relevant. Digital transformation drives real change; businesses are developing new models and philosophies that are centered on the customers.
For the better part of the year, I researched the efforts that digital transformation has on traditional businesses, the benefits, driving factors, and the challenges that lie ahead. I also looked at theories and areas of debate for the digital transformation of traditional business, and any industry or technologies that will be impacted by the digital transformation. During my research, I found that over the last 20 years the funding for new information technologies has increased significantly. In the 1990s, companies were investing "millions of dollars on Web sites, sophisticated software packages, teleconferencing equipment, broadband network, and mobile communication "Andal-Ancion, Cartwright & Yip, 2003). Individuals and businesses alike are embracing the revolution of digital transformation. With social networks, online sales, and mobile ...
This solution provides background information on the digital transformation of traditional business. It explains the efforts that digital transformations has on traditional business, as well as the benefits, driving factors, and current theories and areas of debate for the digital transformation of traditional businesses. Lastly, industries are identified that are impacted by digital transformation, and whether the impact was positive or negative.