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Digital Transformation in Companies: A Path to Innovation and Efficiency

Volume: 6 Number: 2 December 30, 2024

Digital Transformation in Companies: A Path to Innovation and Efficiency

Abstract

Digital transformation (DT) has become a cornerstone for companies aiming to remain competitive in the dynamic global market. This paper explores the evolution of digital transformation, its significance in corporate success, and its impact on operations, decision-making, and customer satisfaction. Drawing on previous studies, the paper identifies key drivers, challenges, and outcomes of DT. Finally, it presents recommendations for companies to effectively adopt and leverage digital tools for sustainable growth. Digital transformation (DT) is rapidly reshaping industries across the globe, yet many organizations face significant challenges as they attempt to navigate this transformation. This paper explores the barriers to digital transformation, the benefits it offers, the key theories underpinning it, and the evolution of digital transformation thought. By examining the challenges, rewards, and theoretical frameworks, this paper provides a comprehensive overview of digital transformation in business contexts. It aims to offer insights into how businesses can successfully manage their digital transformation processes. The study was carried out by the literature review method, and the works of many local and foreign scientists were examined. As a result, it is understood that today's Digital transformation in companies approach should be described as It is inevitable. It is also important as it is a study that can be expanded with field research in the future.

Keywords

References

  1. Bharadwaj, A., El Sawy, O. A., Pavlou, P. A., & Venkatraman, N. (2013). Digital Business Strategy: Toward a Next Generation of Insights. MIS Quarterly, 37(2), 471-482.
  2. Chesbrough, H. (2003). The Logic of Open Innovation: Managing Intellectual Property. California Management Review, 45(3), 33-58.
  3. Davenport, T. H., & Ronanki, R. (2018). Artificial Intelligence for the Real World. Harvard Business Review.
  4. Fitzgerald, M., Kruschwitz, N., Bonnet, D., & Welch, M. (2013). Embracing Digital Technology: A New Strategic Imperative. MIT Sloan Management Review, 54(2), 1-12.
  5. Fitzgerald, M., Kruschwitz, N., Bonnet, D., & Welch, M. (2014). Embracing digital technology: A new strategic imperative. MIT Sloan Management Review, 55(2), 1-12.
  6. Kane, G. C., Palmer, D., & Nguyen-Phillips, A. (2015). Strategy, Not Technology, Drives Digital Transformation. MIT Sloan Management Review.
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  8. McKinsey & Company. (2018). The Case for Digital Transformation. McKinsey & Company.

Details

Primary Language

English

Subjects

Mathematical Economics

Journal Section

Image Presentation

Authors

Early Pub Date

December 30, 2024

Publication Date

December 30, 2024

Submission Date

November 26, 2024

Acceptance Date

December 30, 2024

Published in Issue

Year 2024 Volume: 6 Number: 2

APA
Almohamad, O. (2024). Digital Transformation in Companies: A Path to Innovation and Efficiency. Quantrade Journal of Complex Systems in Social Sciences, 6(2), 229-238. https://izlik.org/JA39KM69PG
AMA
1.Almohamad O. Digital Transformation in Companies: A Path to Innovation and Efficiency. Quantrade. 2024;6(2):229-238. https://izlik.org/JA39KM69PG
Chicago
Almohamad, Omar. 2024. “Digital Transformation in Companies: A Path to Innovation and Efficiency”. Quantrade Journal of Complex Systems in Social Sciences 6 (2): 229-38. https://izlik.org/JA39KM69PG.
EndNote
Almohamad O (December 1, 2024) Digital Transformation in Companies: A Path to Innovation and Efficiency. Quantrade Journal of Complex Systems in Social Sciences 6 2 229–238.
IEEE
[1]O. Almohamad, “Digital Transformation in Companies: A Path to Innovation and Efficiency”, Quantrade, vol. 6, no. 2, pp. 229–238, Dec. 2024, [Online]. Available: https://izlik.org/JA39KM69PG
ISNAD
Almohamad, Omar. “Digital Transformation in Companies: A Path to Innovation and Efficiency”. Quantrade Journal of Complex Systems in Social Sciences 6/2 (December 1, 2024): 229-238. https://izlik.org/JA39KM69PG.
JAMA
1.Almohamad O. Digital Transformation in Companies: A Path to Innovation and Efficiency. Quantrade. 2024;6:229–238.
MLA
Almohamad, Omar. “Digital Transformation in Companies: A Path to Innovation and Efficiency”. Quantrade Journal of Complex Systems in Social Sciences, vol. 6, no. 2, Dec. 2024, pp. 229-38, https://izlik.org/JA39KM69PG.
Vancouver
1.Omar Almohamad. Digital Transformation in Companies: A Path to Innovation and Efficiency. Quantrade [Internet]. 2024 Dec. 1;6(2):229-38. Available from: https://izlik.org/JA39KM69PG

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