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Digital Transformation: Five recommendations for the digitally conscious firm
Umeå University, Faculty of Social Sciences, Department of Informatics.
Umeå University, Faculty of Social Sciences, Department of Informatics.ORCID iD: 0000-0001-7349-6818
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Business Administration.ORCID iD: 0000-0001-8123-5730
2020 (English)In: Business Horizons, ISSN 0007-6813, E-ISSN 1873-6068Article in journal (Refereed) Accepted
Abstract [en]

Digital transformation is one of the key challenges facing contemporary business organizations. The need to leverage digital technology to develop and implement new business models forces firms to re-evaluate existing capabilities, structures, and culture in order to identify what technologies are relevant and how they will be enacted in organizational processes and business offerings. More often than not, these profound changes require firms to revisit old truths as they develop strategies that thread the needle between beneficial innovation and harmful disruption. This paper utilizes the Internet of Things (IoT) as a backdrop to demonstrate the concerns associated with transformative technologies and offers five recommendations as to how firms can engage to develop the strategies needed for digital transformation and become digitally conscious. 1. Start small and build on first-hand benefits. 2. Team up and create competitive advantage from brand recognition. 3. Engage in standardization efforts. 4. Take responsibility for data ownership and ethics 5. Own the change and ensure organization-wide commitment. As such, this paper shows that digital transformation should be a top management priority and a defining trait of corporate business strategy, and that by becoming digitally conscious, firms may get a head start on their transformation journey.

Place, publisher, year, edition, pages
Elsevier, 2020.
Keywords [en]
Digital transformation, digitization, digitalization, Internet of Things, digitally conscious firm, empirical study
National Category
Information Systems, Social aspects
Identifiers
URN: urn:nbn:se:umu:diva-169029OAI: oai:DiVA.org:umu-169029DiVA, id: diva2:1415116
Part of project
The IoT-Guide: From Product to Service, Vinnova
Funder
Vinnova, 2015-06149Available from: 2020-03-17 Created: 2020-03-17 Last updated: 2020-03-17

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Saarikko, TedWestergren, Ulrika H.Blomquist, Tomas

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CiteExportLink to record
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Citation style
  • apa
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