Abstract
Across the industries, management faces increasing pressure to make digital transformation a strategic priority and embrace the opportunities offered by digitalization, and the mining sector is not an exception in this regard. Whereas it is recognized that within the mining industry digitalization will be a driving force that has a great potential to transform the nature of companies and their interaction with stakeholders at every stage of the value chain, there seems to be a lack of an understanding as to what should be investigated from a managerial perspective for the successful undertaking of the digital transformation initiatives. The paper aims to provide a descriptive overview of the global industry trends with regard to digital technologies in the mining sector, as well as develop a conceptual digital transformation framework that is intended to improve business’ digitization processes for the mining companies by identifying the core managerial areas on which attention should be focused in order to ensure effective implementation of the digital transformation strategy. These main action fields, along with optional additional dimensions could be further elaborated depending on the organizational context and industry environment, and should be taken into consideration when planning and organizing activities directed at delivering effective digital transformations.
Highlights
To thrive in a highly dynamic and complex environment, it is necessary for modern businesses to monitor and analyze industry technology trends on an ongoing basis, and develop future-focused innovation-oriented activities that allow a company to adapt to the change and uncertainty
This paper is aimed to provide a descriptive overview of digital technologies in the mining sector which are relevant at the firm level and develop a managerial framework for organizations in order to describe key dimensions that should be considered for a successful digital transformation strategy implementation
With regard to the digital transformation the following key challenges that hinder the rate of digital technologies implementation in the mining sector can be identified: the inability of technology providers to facilitate the implementation of their solutions, difficulties in adapting current business models to agile principles, and a general tendency within the sector to focus on project outputs instead of sustainable business outcomes [4]
Summary
To thrive in a highly dynamic and complex environment, it is necessary for modern businesses to monitor and analyze industry technology trends on an ongoing basis, and develop future-focused innovation-oriented activities that allow a company to adapt to the change and uncertainty. Digitalization has become a business imperative, leveraging the latest technology advances to improve operational processes in order to ensure strategic competitiveness, reduce risks, and increase business performance. In this study digitalization in the mining industry is considered as a process of adopting technologies, digital devices, methods, systems, digitized data, and advanced analytics in an appropriate way in order to achieve desired strategic organizational objectives and business outcomes, such as costs reduction, operational performance improvement, and a general transformation of mining practice towards making it safer and more efficient and sustainable
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