Correction to “Barriers to Digital Transformation of Family Businesses: Developing a Framework Using ISM Approach”

Currently, the digital transformation of a business is the main direction for increasing its efficiency, while for small businesses these processes are difficult to implement, since they occur separately, without an integrated approach. The relevance of the article is related to the need to identify problems and shortcomings in the functioning of the mechanism for the digital transformation of small businesses in order to formulate proposals and measures to eliminate them, to theoretically substantiate priority areas for the development of small businesses. As methods for writing the article, the systematization of the main tools for managing the processes of digital transformation of small businesses was used; generalization of the essence and content of the process of introducing digital technologies into entrepreneurial business processes, management processes. The results of the study include the fact that the article defines the concept of "mechanism of digital transformation of small businesses" and highlights its main elements. The main tasks and powers of the management regulating the process of digital transformation are analyzed. This article presents five key areas of digital transformation to help you plan for change.

Digital transformation is penetrating all areas of activities. This process is irreversible and poses challenges to businesses. The leading role for the successful digital transformation of small and medium-sized businesses is played by effective project management. The purpose of the article is to study the role of project management in the digital transformation of small and medium- sized businesses, to identify the key issues and the scenario of transformation, to outline the portrait of a project manager. Methods used: analysisб synthesis, graphic methods, the method of establishing cause-and-effect relationships. As a research result, theoretical aspects of project management and trends in understanding its role in the digital transformation of businesses were determined. The key questions for project management are outlined and its scenario is defined. The key skills and qualities of an effective project manager are described. The innovative potential of project management is considered. The scientific novelty of the research consists in clarifying the aspects necessary for effective project management, taking into account the trends in economic and sustainable development. The practical significance of the research results lies in outlining the areas of activity and improving the professional and extra-professional skills of project managers in the process of digital transformation.

PurposeDigital transformation is a process in which organizations use technology as an essential resource to improve performance and increase market reach and results.Design/methodology/approachThis research aims to verify how dynamic capabilities are configured for the development of strategies and processes necessary for digital transformation. To this end, qualitative research of an exploratory nature was carried out, operationalized through in-depth individual interviews with a semi-structured approach with managers who occupy leadership positions, in addition to a documentary survey of the internal records of the analyzed organization. In data analysis, the content analysis technique was used.FindingsThe main results of the research showed that the dynamic capabilities configured in sensing, seizing and reconfiguring contribute to leveraging digital transformation in the business studied through the reformulation of strategies to integrate and coordinate the implementation of new routines, investments in technological and human resources and actions to change culture with a focus on digital transformation considering the company’s stakeholders.Originality/valueThis transformation affects business models, products, services and processes, as well as the review of strategies, organizational structures and management concepts.

Introduction. The global and dynamic spread of trends in the digitalization of the economy and society has an increasing impact on the development of enterprises in all industries in the world, including in Russia. The impact of economic sanctions does not eliminate the need for the digital transformation of Russian business. It is especially important for the industrial sector, the largest segment of the Russian economy, to adapt to ongoing digitalization processes and new challenges. The purpose of the article is to identify modern global trends in the digital transformation of industry and the most relevant areas for the development of business models of industrial companies. Materials and Methods. The study includes a critical analysis of publications by leading Russian and foreign researchers, as well as international organizations. It is based on the results of a survey of large, medium and small enterprises representing various industries in the regions of the Russian Federation. Methods of comparative analysis, classification, differentiation, quantitative and qualitative analysis of results, empirical methods of data collection were used. The methods used made it possible to identify the goals, directions, problems and prospects of digital transformation of business models in the industry of the Russian Federation, taking into account industry and regional factors. Results. The paper studies the current global trends in the digitalization of the economy, their impact on the digital transformation of business and the development of new business models. The key interests of Russian industrial companies in the field of digitalization (goals, directions, areas for the introduction of digital technologies, achieved and expected competitive advantages), as well as the prospects for digital transformation of business models, are identified. Discussion and Conclusion. The study showed the priority of introducing new generation operational business models, as well as the importance of factors of digital maturity of enterprises and interregional partnership for their development. The results of the research presented in the article may be in demand by business leaders when developing programs and plans for digital transformation, as well as useful for the formation of a regional policy of digitalization of industry.

In the digital economy era, small service business struggle to compete in a rapidly changing and dynamic market. Therefore, through digital transformation (DT), small service business seek to increase their competitive advantage, improve business performance, and achieve business growth. Having limited resources and capabilities, small service business must deal with several barriers and challenges. This study aims to discover the barriers, and the roles of government, for digital transformation in small service business. This study applied a qualitative approach involving semi-structured in-depth interviews with top management of small service business. Then, we employed the content analysis method to examine interview data and construct a model. This research reveals four main barriers to digital transformation in small service business: lack of funding, lack of digital capability, lack of human resources, and technical barriers. We found there are four government roles for supporting digital transformation in small service business: build a digital platform for small service business, promote mobile/digital payment, provide digital training, and build a digital collaboration ecosystem. Additionally, based on this study’s findings, a model for barriers and government support of digital transformation in small service business is presented. This study contributes to the conceptual framework and management implications in the digital transformation field. The study’s findings provide insights to practitioners and suggest that the government could alter the current policies and programs to support digital transformation in small service business.

The development of the digital economy is changing all aspects of the economic environment. Businesses are undergoing a transformation in the size, ways of doing business and interaction with key economic structures. This is leading to a rethinking of the main tasks of business administration and management under the influence of digital technologies. These technologies, based on the capabilities of the Internet, form digital platforms for business, where it is possible to conduct transactions, collect data, select and compare counterparties, and conduct financial transactions. Current realities also reinforce the need for digital transformation of domestic business. The article considers the relevance of digital transformation of Ukrainian business in the context of numerous challenges caused by the war in Ukraine. The article analyses the innovative opportunities offered by digital transformation for the development of enterprises. It is noted that the introduction of advanced technologies, such as Big Data or artificial intelligence (AI), allows optimising the management process, analysing data to make operational decisions, providing individual offers to customers and forecasting the market dynamics of the enterprise. The study also emphasises that in the context of the war, the European Innovation Council has provided €20 million in support for the development of innovations in Ukraine to improve the digital transformation of Ukrainian businesses. The article emphasises the benefits of digital transformation for domestic business and identifies that in 2022 there was a decline in the digital transformation of Ukrainian business due to the impact of the Russian-Ukrainian war. Supporting businesses during the military conflict is becoming an important task, but its implementation is complicated by disruptions in production and logistics chains, constant shelling, and internal migration. Despite all these difficulties, various projects have been developed for entrepreneurs to improve the digital transformation of domestic businesses under martial law. Further research is planned to focus on the main aspects of the digital transformation of business processes in the context of war and post-conflict recovery in Ukraine.

The processes of digital transformation today are driving forces of change in almost all spheres and industries, and also open up opportunities for the introduction of new technologies and the construction of digital business models. The aim of the article is to characterize the digital transformation of enterprise management and digital decision-making processes taking into account the development of Industry 4.0 in Ukraine. Digital transformation of business is a very necessary and relevant process, which serves as a driver for changes in the company, changing the needs of customers, the actions of competitors, and promotes the emergence of new technologies and services. The gap between Ukraine and most European states is significant, and, according to experts, it will take 3 to 5 years to overcome it, provided the economic situation is stable, as well as the inflow of investments. Instead, Ukraine has a fairly large potential and a developed IT sector, which is the driving force in the implementation of Industry 4.0 technologies. The synergistic digital transformation of domestic governance, business, and industry, that involves the transition to European business standards in the context of the development of the information economy, digitalization, industrialization, digital transformations, informatization of society, and globalization of the economy, should become a challenge for Ukraine. These processes require improvement of competitiveness, income and infrastructure of enterprises; acceleration of digitization of the most promising sectors; wider use of IT products and services by domestic companies; strengthening the country's defense sector. As a result of business adherence to the leading principles of digital transformation, there is a gradual change in business processes and the transition to digitization using Industry 4.0 tools and models. Based on the project of the national development strategy 4.0, the article presents a SWOT analysis of the digital transformation of enterprise management and digital decision-making processes, taking into account the development of Industry 4.0 in Ukraine.

PurposeThis review study aims to explore the prevalent paradoxes in digital transformation (DTN) of business and provide insights on how businesses can effectively navigate them.Design/methodology/approachThe study conducts a systematic literature review, utilizing findings from a bibliometric analysis. A sample of 229 articles published in top-tier journals, retrieved from the Scopus database, is reviewed to identify nine clusters representing different sectors and paradoxes in DTN.FindingsThe review identifies and summarizes studies addressing the paradoxes that arise during DTN in various sectors. Scholars have analyzed the growing need for digital innovations and the benefits they bring, but this study aggregates high-quality research to address the gap in understanding prevalent paradoxes.Originality/valueThis study provides valuable insights into the paradoxes of DTN and offers guidance to businesses on effectively managing these challenges. It contributes to the existing literature by consolidating and presenting key research findings in this domain.

Purpose: This study investigates the impact of digital business intensity and transformation on organizational ambidexterity and sustainable performance on insurance companies in Indonesia from a dynamic capabilities’ perspective.Design/methodology/approach: The study uses a quantitative approach, purposive sampling used to select insurance companies with assets over IDR 1 trillion. The primary data was obtained directly from the top-level management unit of 120 data questionnaires, namely, 40 Chief Executive Officer (CEO), 40 chief agency officer (CAO) and 40 Chiefs Technology Officer CTO) of each company. The data of each department in a company is aggregated as a single unit of responses from one company. The Structural Equation Model is used as a method to test and analyze data, using SmartPLS software.Purpose: This study aims to investigate the impact of digital business intensity and digital transformation on organizational ambidexterity and sustainable organizational performance in Indonesian insurance firms from a dynamic capability perspective.Design/methodology/approach: Through quantitative approach, purposive sampling is used to select insurance companies with assets exceeding IDR 1 trillion. Primary data was collected through structured questionnaires distributed to 120 top-level executives, including 40 Chief Executive Officers (CEOs), 40 Chief Agency Officers (CAOs), and 40 Chiefs Technology Officers CTOs). Responses from each company were aggregated to form a unified dataset for analysis. Structural Equation Modeling (SEM) was used to analyze the data using SmartPLS software.Findings: The findings reveal that both digital business transformation and government interventions significantly increase organizational ambidexterity. Furthermore, organizational ambidexterity serves as a mediator for the relationship between digital business intensity and government intervention towards sustainable organizational performance. The mediating role of organizational ambidexterity in the relationship for digital business intensity and sustainable organizational performance is positively moderated by digital business intensity.Research limitations/implications: The study applies dynamic capability as a theoretical basis to understand how insurance companies can attain sustainable performance in the digital age. However, it acknowledges limitations, such as the exclusion of external factors like macroeconomic conditions, regulatory changes, and rapid technological advancements. The focus on the insurance sector may also limit the applicability of the findings to other industries with different dynamics.Practical implications: The study provides actionable insights for insurance firms to refine their digital strategies. By developing and validating new metrics to measure digital business intensity and sustainable performance, firms can better assess the effectiveness of their digital transformation. This framework serves as a guide for practitioners to evaluate the impact of digital initiatives on their organizations.Originality/value: This study enriches the organizational literature by demonstrating how digital business intensity and ambidexterity contribute to enhancing sustainable performance in the insurance industry. It also highlights the significance of government policies as external factors influencing organizational dynamics, offering a new perspective on how these elements interact within the context of dynamic capabilities in the financial sector.

Digital transformation is an urgent strategy for enterprises to promote business activities forward the modern direction. The worldwide outbreak of the COVID-19 pandemic has spurred the digital transformation in many areas of society, especially business activities. This study aims to clarify the current reality of digital transformation in business during the COVID-19 pandemic in Vietnam. The study data is collected by an online survey including 82 enterprises from the Vietnamese economy. The statistical analysis shows that these enterprises have implemented digital transformation in their business operations to adapt to the strict social distancing measures caused by the pandemic. In general, digital transformation has helped businesses increase revenue as well as reduce operating costs, however, investment expenditure for the digital transformation of these enterprises has been still quite limited. Finally, business leaders confirm that their enterprises would accelerate in the digital transformation process in the near future.KeywordsDigital transformationInternet of thingsBusiness intelligenceBusiness excellenceBusiness transformation

In today's increasingly digitalized world, digital transformation dramatically changes the way of doing business and reshapes business functions such as controlling, logistics, HR, marketing etc. For companies that do not know how to implement digital transformation, it will be difficult to survive. Therefore, digital transformation is one of the most debated issues in today's business world. Being aware of this issue, Turkish-German University (TGU) hosted a conference on Digital Transformation in Business in cooperation with Bielefeld University of Applied Sciences in Istanbul. The conference offered a platform where academicians as well as practitioners discussed current issues of digital transformation. The academic papers presented in the conference constitute the papers of this book

The ever-growing technological innovations and inventions are reshaping businesses at external and internal levels. Digital transformation is the process that integrates technologies in business processes and strategies. This transformation is mostly dependent on data and is driven by evolving technologies, rapid growth in competition, and shift in consumer behavior. It enables a business to be more agile and productive and to provide a better customer experience. This chapter discusses the impact of digital transformation in business and the fintech industry by highlighting the modern technologies used in transformation, the effect on business, the fintech industry, and their current trends. Furthermore, it elaborates on how digital transformation affects businesses at different levels. Lastly, it discusses the challenges faced by businesses in the process of digital transformation and recommends solutions for them.

Digital transformation has become a key driver in the 21st century, changing how organisations work, compete, and generate value in a world that is changing quickly. Digital Transformation in Business: Integrating Technology with Management and Commerce looks at how new technologies affect the strategic needs of modern businesses. The goal of this book is to provide you a full picture of how digital tools, platforms, and breakthroughs like AI, big data, cloud computing, blockchain, and the Internet of Things are changing the way management and commerce work

In an era of rapid technological advancements and continuously evolving business landscapes, research serves as a cornerstone in shaping industry practices and academic discourse. The integration of digital transformation across various sectors has not only redefined traditional business models but has also created new opportunities and challenges. This book, Digital Transformation in Business: Bridging Management and Technology, is a carefully curated compilation of diverse studies that explore contemporary issues across multiple domains, including sustainability, digital marketing, fintech innovations, and the role of language proficiency in global business success. The chapters in this book offer a balanced blend of theoretical insights and empirical research, equipping readers with a comprehensive understanding of the subjects discussed. Topics range from the sustainability of supply chains in the Indian automobile industry to the impact of gamification in digital marketing campaigns, providing perspectives that are both academically enriching and practically relevant. The research presented here is intended to benefit a broad audience, including scholars, policymakers, industry professionals, and business leaders seeking to navigate the complexities of digital transformation.

In this chapter, a comprehensive bibliometric analysis of publications related to digital transformation in business is conducted to provide detailed insights into the evolution of the scientific research field. Thus, the performance analysis was employed to provide a comprehensive overview of the development and distribution in the field of digital transformation in business from four statistical analysis perspectives: the number of publications, category of publications, number of citations, and detailed information regarding highly cited publications.