Is Digital Transformation Vital for Business in Thailand 4.0 Era: An Exploratory Study

Abstract

Purpose: Digital Transformation has gradually become a significant phenomenon in boosting the economies of many developing countries as well as a trend of businesses in the 21st-century in various aspects. This study explores the importance of pursuing digital transformation for businesses under Thailand 4.0 economic model toward innovation and creativity. Methodology: Using qualitative approach, this study explores the role of digital transformation under Thailand 4.0 era, and the strategies that businesses should pursue for implementing digital transformation. Findings: The findings identify Management/ Executives vision, Business Resources, and Business Competencies as the three key factors required for the successful implementation of digital transformation in businesses. Practical implications: There is a need to fully align the perceptions of practitioners who have expertise on different digital technologies for digital business transformation or digital enterprise solutions in Thailand. Originality: The findings provide useful insights on key factors, strategies, and the common practice associated with the adoption and successful implementation of digital transformation.