Digital transformation as a catalyst for business model innovation: A critical review of impact and implementation strategies
Henry Ejiga Adama,
Chukwuekem David Okeke
Magna Scientia Advanced Research and Reviews,
Год журнала:
2024,
Номер
10(2), С. 256 - 264
Опубликована: Апрель 27, 2024
In
today's
fast-paced
and
highly
competitive
business
environment,
digital
transformation
has
emerged
as
a
crucial
driver
of
organizational
success.
This
paper
presents
comprehensive
review
the
intersection
between
model
innovation,
examining
impact
implementation
strategies
associated
with
this
transformative
process.
The
study
begins
by
elucidating
concept
its
significance
in
reshaping
traditional
models.
It
explores
how
advancements
technologies,
such
artificial
intelligence,
big
data
analytics,
Internet
Things,
have
revolutionized
various
aspects
operations,
including
customer
engagement,
operational
efficiency,
revenue
generation.
Furthermore,
critically
evaluates
on
emphasizing
need
for
organizations
to
adapt
evolve
response
changing
market
dynamics
consumer
preferences.
Through
systematic
analysis
relevant
literature
case
studies,
highlights
key
drivers,
challenges,
opportunities
inherent
leveraging
technologies
drive
innovation.
Moreover,
examines
different
adopted
effectively
integrate
initiatives
into
their
existing
discusses
importance
strategic
planning,
culture,
leadership
commitment
driving
successful
initiatives.
Overall,
critical
contributes
deeper
understanding
role
catalyst
provides
valuable
insights
practitioners,
policymakers,
researchers
seeking
navigate
complex
landscape
disruption
capitalize
emerging
growth
competitiveness.
Язык: Английский
The application of business analytics in cost reduction
Scientific Papers of Silesian University of Technology Organization and Management Series,
Год журнала:
2023,
Номер
2023(184)
Опубликована: Янв. 1, 2023
The
purpose
of
this
publication
is
to
present
the
applications
usage
business
analytics
in
cost
reduction.Design/methodology/approach:
Critical
literature
analysis.Analysis
international
from
main
databases
and
polish
legal
acts
connecting
with
researched
topic.
Findings:The
application
reduction
paramount
today's
fiercely
competitive
landscape.This
article
highlights
pivotal
role
optimizing
financial
performance
by
identifying
inefficiencies
areas
for
reduction.By
harnessing
power
data,
enables
data-driven
decisionmaking,
differentiates
between
drivers,
streamlines
processes,
optimizes
inventory
pricing
strategies.Various
methodologies
techniques,
along
a
diverse
range
software
solutions,
support
organizations
their
endeavors.Leveraging
not
only
provides
edge
but
also
enhances
customer
satisfaction,
mitigates
risks,
supplier
relationships.This
multifaceted
approach
empowers
achieve
goals
secure
long-term
success.
Язык: Английский
Business Transformation in the Era of Digital Disruption
Advances in e-business research series,
Год журнала:
2024,
Номер
unknown, С. 1 - 28
Опубликована: Сен. 20, 2024
The
chapter
delves
into
the
critical
role
of
digital
transformation
in
contemporary
business
environments,
driven
by
rapid
technological
advancements.
It
begins
with
an
introduction
that
outlines
necessity
for
businesses
to
adopt
technologies
stay
competitive
and
meet
evolving
customer
expectations.
literature
review
highlights
key
such
as
AI,
IoT,
data
analytics
are
reshaping
operations
strategies,
case
studies
companies
like
Amazon,
Starbucks,
GE,
demonstrating
successful
disruption.
discussion
then
shifts
disruptive
trends
impacting
businesses,
including
proliferation
AR/VR,
blockchain,
how
these
driving
new
models
platform
economies
subscription
services.
potential
challenges
faced
during
explored,
emphasizing
need
strategic
planning,
effective
change
management,
addressing
human
factors
employee
resistance
skill
gaps.
To
navigate
challenges,
proposes
actionable
strategies
transformation.
These
include
strong
leadership,
clear
communication,
fostering
a
culture
innovation
continuous
learning.
conclusion
underscores
importance
embracing
proactively
not
only
survive
but
thrive
age.
This
provides
comprehensive
guide
aiming
harness
power
sustainable
growth
competitiveness.
Язык: Английский
The application of business analytics in cost reduction
Scientific Papers of Silesian University of Technology Organization and Management Series,
Год журнала:
2023,
Номер
2023(184)
Опубликована: Янв. 1, 2023
The
purpose
of
this
publication
is
to
present
the
applications
usage
business
analytics
in
cost
reduction.Design/methodology/approach:
Critical
literature
analysis.Analysis
international
from
main
databases
and
polish
legal
acts
connecting
with
researched
topic.
Findings:The
application
reduction
paramount
today's
fiercely
competitive
landscape.This
article
highlights
pivotal
role
optimizing
financial
performance
by
identifying
inefficiencies
areas
for
reduction.By
harnessing
power
data,
enables
data-driven
decisionmaking,
differentiates
between
drivers,
streamlines
processes,
optimizes
inventory
pricing
strategies.Various
methodologies
techniques,
along
a
diverse
range
software
solutions,
support
organizations
their
endeavors.Leveraging
not
only
provides
edge
but
also
enhances
customer
satisfaction,
mitigates
risks,
supplier
relationships.This
multifaceted
approach
empowers
achieve
goals
secure
long-term
success.
Язык: Английский
The usage of Six Sigma in Industry 4.0 conditions
Scientific Papers of Silesian University of Technology Organization and Management Series,
Год журнала:
2023,
Номер
2023(184)
Опубликована: Янв. 1, 2023
The
purpose
of
this
publication
is
to
present
the
usage
Six
Sigma
approach
in
Industry
4.0
conditions.Design/methodology/approach:
Critical
literature
analysis.Analysis
international
from
main
databases
and
polish
legal
acts
connecting
with
researched
topic.Findings:
integration
principles
dynamic
landscape
offers
a
promising
synergy
that
brings
numerous
benefits
challenges.Industry
4.0,
characterized
by
advanced
technologies
like
IoT,
big
data
analytics,
AI,
robotics,
reshaping
manufacturing
industry.This
digital
revolution
demands
adaptability
process
optimization
for
efficiency,
quality,
customer
satisfaction.Six
Sigma,
grounded
data-driven
improvement,
aligns
well
4.0's
goals.Combining
these
approaches
can
yield
remarkable
results,
enhancing
competitiveness
driving
continuous
quality
efficiency
improvement.Six
Sigma's
DMAIC
methodology,
defining,
measuring,
analyzing,
improving,
controlling,
structured
problem-solving.A
hierarchy
roles
ensures
effective
project
management
expertise
utilization.Real-world
applications
across
various
sectors
support
aiming
enhance
product
or
service
satisfaction.The
advantages
using
conditions
are
substantial,
including
improved
control,
enhanced
decision-making,
real-time
monitoring,
predictive
maintenance
optimization,
streamlined
supply
chain
management,
ultimately
leading
higher
satisfaction,
cost
reduction,
employee
skill
development,
competitive
advantage,
risk
management.However,
presents
challenges
overload,
complex
technology
integration,
gaps,
security,
complexity,
change
implementation
costs,
over-reliance
on
technology.These
issues
be
addressed
through
well-defined
strategies,
comprehensive
training,
robust
cybersecurity
measures,
simplification
processes,
compelling
business
cases,
maintaining
balanced
approach.In
rapidly
evolving
industrial
landscape,
integrating
path
organizations
while
addressing
transformation.
Язык: Английский
Business analytics in the case of process optimalization in Industry 4.0 conditions
Scientific Papers of Silesian University of Technology Organization and Management Series,
Год журнала:
2023,
Номер
2023(184)
Опубликована: Янв. 1, 2023
The
purpose
of
this
publication
is
to
present
the
applications
usage
business
analytics
in
process
optimization.Design/methodology/approach:
Critical
literature
analysis.Analysis
international
from
main
databases
and
polish
legal
acts
connecting
with
researched
topic.Findings:
In
era
Industry
4.0,
intersection
data-driven
technologies
manufacturing
processes
underscores
indispensable
role
optimization.This
transformative
landscape
redefines
operations,
highlighting
data
as
cornerstone
operational
excellence.Business
offers
a
multitude
advantages,
including
decision-making,
efficiency
enhancements,
predictive
capabilities,
cost
reduction,
ultimately
ensuring
competitive
edge.Nevertheless,
it
also
presents
set
challenges,
such
quality,
integration,
resistance
change.Overcoming
these
obstacles
essential
fully
unlock
potential
4.0.In
doing
so,
organizations
can
navigate
dynamic
secure
their
position
ever-evolving
industrial
ecosystem.
Язык: Английский