Digital Transformation Journey Research Articles

Circular Economy Transformation in Chemical Industry: Integrating CRM and AI for Sustainable Growth

This white paper explores the pivotal role of Customer Relationship Management (CRM) in the digital transformation journey of the chemical industry. As customer expectations continue to evolve and competition intensifies, chemical companies are turning to CRM solutions to enhance customer interactions, streamline operations, and drive business growth. The abstract provides an overview of CRM’s significance in the chemical sector, highlighting its role in customer segmentation, sales automation, marketing optimization, and customer service enhancement. By centralizing and optimizing customer-related processes, CRM enables chemical companies to deliver personalized experiences, improve sales productivity, and foster stronger customer relationships. Through a comprehensive examination of CRM implementations and potential applications in the chemical industry, this white paper aims to provide valuable insights for industry professionals seeking to leverage CRM to navigate the challenges and opportunities of the digital age.

Adapting to Digital Transformation: Challenges and Strategies for Traditional Businesses

In the era of digital transformation, traditional businesses face numerous challenges in adapting to the evolving landscape of technology and market dynamics. This article explores the challenges and strategies encountered by traditional businesses as they navigate the process of digital transformation. Utilizing qualitative methods such as literature review and library research, this study investigates the key factors influencing the success or failure of digital transformation initiatives in traditional business settings.
 The literature review reveals several challenges that traditional businesses encounter during the digital transformation process, including organizational resistance to change, lack of digital skills and expertise, legacy systems, and cultural barriers. Moreover, navigating the complexities of data management, cybersecurity threats, and regulatory compliance adds further complexity to the digital transformation journey.
 In response to these challenges, traditional businesses adopt various strategies to facilitate their digital transformation efforts. These strategies include investing in digital infrastructure and technology, upskilling and reskilling employees, fostering a culture of innovation and agility, forging strategic partnerships with technology firms, and embracing customer-centric approaches.
 Furthermore, successful digital transformation requires effective leadership, clear communication, and a willingness to experiment and learn from failures. By embracing a growth mindset and leveraging the power of digital technologies, traditional businesses can unlock new opportunities for growth, innovation, and competitive advantage in the digital age.
 In conclusion, this study highlights the importance of proactive adaptation to digital transformation for traditional businesses to remain relevant and competitive in today's rapidly changing business environment. By understanding the challenges and implementing appropriate strategies, traditional businesses can successfully navigate the digital landscape and thrive in the digital economy.

Considering Company Size, Level of Responsibility, and Employee Age for Analysing Countermeasures against Barriers to Digital Transformation

Digital Transformation (DT) is gaining traction across all industries. Also, it impacts other sectors, such as non-profit and higher education. DT emerges when connectivity technologies merge with physical assets, potentially affecting value-generating processes and value propositions. These changes will improve effectiveness, business models, and customer relationships. However, firms confront several barriers when they embark on their DT journey. Thus, it is essential to understand how the barriers can be tackled by countermeasures. Understanding the qualities of these countermeasures is critical for businesses to overcome barriers. Thus, this current study searches for similarities and differences across socio-demographic categories representing company size (LE, MLE, SME), level of responsibility (executive, with and without personal responsibility), and age (under 30, 31-40, 41-50, above 50). Data from online surveys revealed 1171 participants’ statements. These were used to extract four dimensions and 39 countermeasures. The most prominent countermeasure dimensions are Human and Organisation. The most prominent countermeasures relate to the education of employees in the form of demand-oriented training and benefits and needs of DT. This research adds to identifying similarities across categories and paves the way for greater generalizability of countermeasures.

Unpacking Digital Transformation: Identifying key enablers, transition stages and digital archetypes

This study aims to identify recurring Digital Transformation (DT) archetypes within firms and explore the capabilities and values associated with each archetype. Underpinned by the Resource-Based View (RBV) and Socio-Technical Systems (STS) theory, the study provides a framework explicating the enabling factors, their characteristics, interdependencies, operational capabilities, and resultant value creation within the context of digitalizing firm operations. Employing a deductive-inductive approach, an exhaustive literature review combined with an in-depth, multiple case study analysis of sixteen firms provides rich insights into the digital transformation journey. Findings reveal technology, data, human capital, processes, and organization structure as key enablers alongside their critical, complementary roles for transformation. Cross-case analysis identified instances of the DT framework, uncovering three archetypes: process efficiency, responsiveness, and strategic agility. Each archetype exhibits distinct socio-technical enabler configurations and improvements to business processes, resulting in unique operational capabilities and value generation. This research provides actionable guidance for managers in leveraging socio-technical enablers to achieve successful digital transformation. It underscores the need for tailored strategies, recognizing that a one-size-fits-all approach is inadequate. Managers must strategically select desired values and develop the necessary socio-technical system components, processes, and operational capabilities to attain them. OriginalityThis study develops digital archetypes of firm operations linking sociotechnical components, operational capabilities, and goals of firm operations. To the best of our knowledge, no prior research has developed such digital archetypes.

From hot pot to high tech: Haidilao’s transformation through digital technologies for sustainable business in the restaurant industry

The pandemic has brought many challenges to the restaurant industry but highlighted the importance of embracing digital transformation that enhances organisations’ competitive advantage and sustainable business. The success story of Haidilao, a popular hot pot restaurant, inspires those striving to overcome difficulties and learn from their digital transformation journey. By staying adaptable, proactive and customer-focused, Haidilao has leveraged digital platforms to offer new and innovative services, such as an online ordering and delivery, an intelligent kitchen, an innovative WeChat strategy and even a Cloud Video Conferencing Service to enhance the attractiveness of the dining experience. Haidilao’s story demonstrates the power of innovation and customer-centricity in driving successful digital transformations for sustainable business in the restaurant industry.

Evolution of digital transformations in IT companies

This article discusses the evolution and approaches of digitalization of business processes within IT companies, highlighting the transformative effects of this shift on operational efficiency and strategic management. By integrating digital technologies like artificial intelligence, blockchain, and cloud computing, IT companies are redefining the landscape of business process management. The paper examines how IT companies' digital technologies have evolved as business processes have been optimised, management decision-making processes have been improved, and service quality has been enhanced. It also looks at issues such as data security, privacy concerns and the need for skilled labour. The evolution of digitalization in IT Companies is investigated through the prism of retrospective historical analysis of how digitalization has evolved in the IT sector and early adaptations, the shift towards more integrated digital solutions. The research methodology includes a blend of qualitative and quantitative approaches, analyzing case studies from various IT companies that have successfully navigated the digital transformation journey. The findings indicate that digitalization, when strategically implemented, leads to significant improvements in process efficiency, cost reduction, and competitive advantage. However, it also necessitates a cultural shift within organizations, emphasizing the importance of continuous learning and adaptation to technological advancements. The paper concludes by proposing strategies for effectively managing the transition towards a digitally empowered business environment.

THE DIGITAL TRANSFORMATION OF SMES: A COMPARATIVE REVIEW BETWEEN THE USA AND AFRICA

The digital transformation of Small and Medium-sized Enterprises (SMEs) is a critical phenomenon shaping the global business landscape. This paper presents a comparative review between the United States and Africa, exploring the diverse trajectories of digitalization within these regions. While the USA is often at the forefront of technological advancements, Africa's SMEs exhibit unique challenges and opportunities in their digital transformation journey. In the United States, SMEs have embraced digital technologies to enhance operational efficiency, improve customer experiences, and gain a competitive edge. The adoption of cloud computing, data analytics, and e-commerce platforms has become ubiquitous, fostering innovation and scalability. This comparative study delves into the specific strategies employed by American SMEs to navigate the complexities of the digital era. On the contrary, African SMEs face distinct hurdles in their digital transformation efforts. Infrastructure limitations, limited access to capital, and a diverse economic landscape present unique challenges. However, this review sheds light on the innovative approaches taken by African SMEs to overcome these barriers. Leveraging mobile technology, localized digital solutions, and collaborative networks, African SMEs are carving out their digital paths. Moreover, this comparative review emphasizes the role of government policies and support mechanisms in shaping the digital transformation landscape for SMEs in both regions. By examining regulatory frameworks, funding initiatives, and skill development programs, this paper provides a comprehensive analysis of the ecosystem supporting SMEs in their digital evolution. The digital transformation of SMEs is a dynamic process with distinct nuances in the USA and Africa. While American SMEs benefit from advanced technological infrastructures, African SMEs showcase resilience and adaptability in leveraging digital tools to overcome challenges. Understanding these diverse trajectories is essential for policymakers, businesses, and researchers seeking to foster inclusive and sustainable digital growth globally.
 Keywords: Digital Transformation, SMEs, USA, Africa, Review.

NAVIGATING THE DIGITAL TRANSFORMATION JOURNEY: STRATEGIES FOR STARTUP GROWTH AND INNOVATION IN THE DIGITAL ERA

In today's fast-paced digital landscape, startups face unprecedented challenges and opportunities in navigating the complex journey of digital transformation. This review explores key strategies essential for startup growth and innovation amidst the evolving digital era. Firstly, understanding the dynamics of digital transformation is crucial. Startups must recognize the profound impact of technological advancements on consumer behavior, market trends, and industry landscapes. By embracing digitalization as a strategic imperative rather than a mere operational enhancement, startups can leverage emerging technologies to drive innovation and gain competitive advantage. Secondly, agility and adaptability are paramount. Startups must cultivate a culture of flexibility and resilience to swiftly respond to changing market demands and technological disruptions. Embracing iterative approaches such as Agile and Lean methodologies enables startups to iterate quickly, experiment with new ideas, and pivot when necessary. Moreover, fostering a customer-centric mindset is indispensable. Startups must prioritize understanding customer needs, preferences, and pain points to deliver personalized experiences and create value-added solutions. Leveraging data analytics and customer feedback loops empowers startups to make data-driven decisions and continuously enhance their products or services. Additionally, collaboration and ecosystem engagement are instrumental in driving startup success in the digital era. Partnering with other startups, industry incumbents, academia, and governmental organizations fosters knowledge exchange, resource sharing, and access to new markets or funding opportunities. In conclusion, startups embarking on the digital transformation journey must adopt a holistic approach that encompasses technological innovation, organizational agility, customer-centricity, and collaborative ecosystems. By doing so, startups can navigate the complexities of the digital era, achieve sustainable growth, and unlock new avenues for innovation and market disruption.
 Keywords: Digital Transformation, Startup, Growth, Innovation, Digital Era, Review.

Digital Transformation and Customer Satisfaction: Lessons from Standard Chartered Bank of Zimbabwe

The aim of this study was to unveil the relationship between digital transformation and customer satisfaction with Standard Chartered Bank Zimbabwe as the case study. The study employed qualitative research design, using semi structured interviews with customers, staff, and management of Standard Chartered Bank of Zimbabwe. To unearth the key themes and trends between digital transformation and customer satisfaction thematic analysis was applied. The findings clearly indicated that Standard Chartered Bank of Zimbabwe implemented well their digital transformation journey to the satisfaction of their customers and employees. The research found that simplified digital transformation that makes the transacting customers get convenience has far reaching implications such as customer loyalty, retention, lifetime value while transacting more. Employee engagement, retention and brand reputation are increased as employees move away from routine processes daily. The research concluded that for companies that need to increase their customer satisfaction digital transformation should be one of the key pillars to company`s broad strategy and continuous improvement should be the order of the day. The study recommendations set the tone for other banks that would want to initiate digital transformation while contributing to the body of knowledge on digital transformation and customer satisfaction.

Digital transformation in banking: The HR perspective on managing change and cultivating digital talent

Digital transformation in the banking industry has become imperative for staying competitive in today's fast-paced technological landscape. This review explores the human resources (HR) perspective on managing change and cultivating digital talent within the banking sector. In the era of digital disruption, banks are redefining their business models and processes to embrace the advantages of emerging technologies. The focus is not only on implementing advanced digital solutions but also on reshaping the workforce to navigate this transformative journey successfully. The role of HR in this context is pivotal, as it involves orchestrating organizational change, fostering a culture of innovation, and nurturing a pool of digital-savvy talents. Managing change is a critical aspect of digital transformation, and HR professionals play a key role in ensuring a smooth transition. This involves creating awareness, fostering a change-ready mindset, and aligning employees with the strategic objectives of digital initiatives. HR teams are instrumental in designing and implementing training programs to upskill existing staff, enabling them to adapt to the evolving digital landscape. Cultivating digital talent is another essential aspect that demands the attention of HR departments in banking institutions. Identifying, attracting, and retaining individuals with the right skill sets is crucial for building a workforce capable of driving digital innovation. HR strategies should focus on developing a talent pipeline that aligns with the organization's digital goals, encompassing not only technical expertise but also fostering a mindset of continuous learning and adaptability. This review sheds light on the HR perspective in the digital transformation journey of the banking industry. It emphasizes the importance of managing change effectively and cultivating a workforce equipped with the digital skills necessary to propel the sector into the future of finance.

Factors influencing Digital Transformation Success: A Study on a Sri Lankan Commercial Bank

The purpose of this research was to identify the most influencing factors to the success of Digital Transformation (DT) journey of a commercial bank in meeting the digital savvy, dynamic customer demand in the banking business. The study has focused on the predominant stages of Digital Transformation, various theoretical models related to DT, the influence of the DT over Banking Industry, Benefits, Challenges and Barriers of DT along with various internal factors influencing Success of DT. The expansion of the DT phenomenon at national level over the years with the regulatory influence has urged Commercial Banks to digitally transform to be in the competition. The low success rate reported consistently for a considerable period in the selected commercial bank was identified as the Research problem for the study. The respondents have been selected from the population of managerial level employees and the scaling down of DT success had been concentrated on the empirically used “Digital Maturity Model”. The conceptual framework consists of four independent variables contributing to DT success most cautiously selected by researchers from the previous literature on the higher frequency in simultaneous research. The Author recommends the strategies and measures to increase the low success rate reported in the DT initiatives of the Banks such as (1) Recognizing Change and urgent response (2) Strategic Alignment (3) Reinvigoration of Culture (4) Training and upskilling workforce (5) Business perspective Technology disruption (6) Significance on Data Culture and (7) Digital Product Development. The research significantly covers the theoretical gap in the DT discipline in local context and by assessing the internal factors subject to inside-out approach anticipating making a reference to support sustainable future growth in the Digital Business in the Banking Industry despite the limitations of individuals researching on a typical discipline like Digital Transformation. Keywords: Digital Business, Digital Maturity Model, Digital Savvy, Digital Transformation.

Open innovation, digital transformation, the mediating effect of technological maturity and diversity

ABSTRACT In the backdrop of the sharing economy era, enterprises are increasingly recognising the strategic value of collaborative partnerships with external stakeholders to foster successful digital transformation. This study employs panel data from Chinese-listed companies to meticulously examine the impact of open innovation on digital transformation, offering empirical insights into the intricate relationship between open innovation and technological development by dissecting technological capabilities into maturity and diversity. The findings underscore the mediating role of technological maturity and diversity, highlighting their significance as conduits through which open innovation influences digital transformation. Conclusion advocates for open innovation's application in the digital economy and advances understanding of digital transformation's antecedents. The study's exploration of technology's role in enterprise transformation across maturity and diversity levels enriches this discourse, providing strategic implications for resource allocation and decision-making in the digital transformation journey.

Cloud Adoption Strategies for Small and Medium Enterprises (SMEs): A Comprehensive Guide to Overcoming Challenges and Maximizing Benefits

This scholarly article delves into the dynamic landscape of cloud adoption strategies tailored for Small and Medium Enterprises (SMEs). Acknowledging the pivotal role SMEs play in the global economy, the research navigates the unique challenges and opportunities inherent in their digital transformation journey. From identifying key drivers and challenges to developing tailored strategies aligned with business objectives, the article emphasizes the delicate balance between data protection and operational efficiency. Workforce training emerges as a critical component amid resource constraints, illustrated through real-world case studies showcasing successful cloud adoptions across diverse sectors. As the narrative extends to future trends, including the impact of edge computing and artificial intelligence on SMEs, this comprehensive article bridges theory and practice. It serves as a valuable resource, offering a holistic roadmap for academics, researchers, and SME practitioners navigating the complexities of cloud adoption.

Digitization Transformation Empowers High-Quality Development of Small and Medium-Sized Enterprises in Jilin Province

In the rapidly evolving digital landscape, small and medium-sized enterprises (SMEs) in Jilin Province, China, face a critical juncture in their growth and sustainability. This paper delves into the current state of digital transformation among these SMEs, examining the intricate web of opportunities and challenges that define their journey towards a digital future. Through a comprehensive analysis, we explore the various facets of digital transformation, including the provincial government's support initiatives, the strategic approaches adopted by SMEs, and the inherent hurdles such as increased operational costs, leadership and cultural challenges, skill gaps, and technological adoption issues. The findings underscore the importance of a multi-pronged strategy involving government support, private sector collaboration, workforce development, and fostering a culture of innovation and adaptability. The paper highlights the need for Jilin's SMEs to not only embrace technological changes but also to rethink their operational models to stay competitive in a global digital economy. Looking ahead, the paper suggests that with continuous strategic efforts, policy support, and an adaptive mindset, SMEs in Jilin can successfully navigate their digital transformation journey, tapping into new opportunities for growth and innovation in an increasingly digital world. The future trajectory for these enterprises is one of continued evolution, where adaptability and strategic planning are key to harnessing the full potential of digital technologies. As digital transformation continues to reshape the global business landscape, SMEs in Jilin Province stand on the brink of significant opportunities, poised to redefine their role in the regional and global economy through innovative and sustainable digital strategies.

Digital Transformation of Small and Medium Sized Enterprises (SMEs): Current Status, Dilemmas, and Strategies

With the rapid advancement of information technology, the digital transformation of SMEs has emerged as a critical topic in the development of the digital economy. The advantages offered by digital technology provide novel opportunities for SME growth. Digital transformation not only serves as a pivotal route for fostering innovation and high-quality development within businesses but also stands as an imperative choice in addressing market competition and uncertainties. However, compared to large corporations, SMEs encounter an array of unique dilemmas and obstacles during their digital transformation journey. These dilemmas frequently include a lack of digital awareness, insufficient funding, weak foundations, and talent shortages. This paper begins by examining the current status of SME digital transformation in terms of exploration phase, geographical distribution, and industry distribution. It then delves deep into the reasons behind the dilemmas faced during the digital transformation of SMEs and proposes a set of countermeasures in response.

Research on the Digital Marketing Strategy of White Rabbit Creamy Candy in the Chinese Market

In the rapidly evolving landscape of modern brand marketing, traditional brands are tasked with the intricate challenge of melding their storied cultural heritage with innovative digital strategies. This research delves into the digital marketing tactics of White Rabbit Creamy Candy, an iconic Chinese snack brand deeply rooted in historical and emotional narratives. The study illuminates the brands distinctiveness in the market by exploring its historical significance, cultural symbols, and emotional resonance. Employing a comprehensive research framework, the investigation uncovers pressing issues such as a constrained digital presence, insufficient engagement on social media, a disconnect with younger generations, the untapped potential of e-commerce, and a lack of collaborative efforts with digital influencers. Notably, consumer stereotypes and the generational divide emerge as salient challenges. In response, a multifaceted approach is recommended, involving the development of a robust digital strategy for heightened online visibility, immersive interactive content, strategic partnerships with digital influencers, rejuvenation of the brand image to resonate with contemporary audiences, alignment with evolving health trends, and strategic positioning against competitive pressures. This study contributes valuable insights into the digital transformation journey of traditional brands and offers pragmatic guidance to enhance digital marketing endeavors in the dynamic modern landscape.

Regulatory compliance as a driver for digital transformation: the case of the railway sector in Europe

The railway sector is an important part of the transportation industry as well as of the economic activity in Europe. It is interesting that digitalization of this sector has been triggered in several European countries by regulatory compliance obligations. The Technical Specification for Interoperability relating to Telematics Applications for Freight/Passenger Services as well as other related standards have created opportunities for the digital transformation of the players participating into this market. Apart from achieving a base minimum compliance to the standards, there are prerequisites and questions to be answered at organizational and technological level if railway sector players are to embark on the digital transformation journey. This research study provides explanations on the argument the regulatory compliance may act as a driver for digital transformation, using the example of the railway sector in Europe and presents some important prerequisites for this market’s players to take the opportunity for digital transformation. The ultimate goal of this research, whose foundations are set up in this research paper, is to formulate a digital maturity model for the actor of the railway sector, for the benefit of their retail and business clients.

Toward Digital Transformation Adoption: A Conceptual Framework from Transformational Leadership Perspective

Digital transformation is about transforming processes, business models, domains, and culture. Studies show that the failure rate of digital transformation is quite high up to 90%. Studies show that the transformational leadership model has a significant impact on digital transformation adoption. This paper identifies the positive and negative attributes of transformational leadership including the components that support and are affected for successful adoption of digital transformation. Furthermore, the paper combines several findings related to the attributes and components in the form of a conceptual framework. The conceptual framework can serve as a guide for organizations for their digital transformation journey.

Digital transformation and business intelligence for a SME: systems thinking action research using PrOH modelling

This paper discusses the digital transformation journey of a small and medium enterprise (SME) based in the UK. With the proposed digital transformation archetype, the paper highlights the improvement in various key performance indices (KPIs) for the case SME. The core KPIs and operational KPIs show improvement through the technology adoption as part of the digital manufacturing initiative. While embracing technology, such as Industry 4.0, it is important to highlight the importance of the change and other benefits of technological changes. The paper uses socio-technological system principles to achieve a successful transition. An action research approach and a specific soft system thinking methodology known as Process-Oriented Holonic (PrOH) modeling were used in this paper. A digital twin architecture is presented in the paper that showcases the use of integrated technologies for a digital manufacturing roadmap.

DIGITAL TRANSFORMATION STRATEGY TO IMPROVE CUSTOMER EXPERIENCE AT HO CHI MINH CITY BANKS

The banking industry in Ho Chi Minh City is undergoing significant changes driven by technological advancements and evolving customer expectations. To stay competitive and provide exceptional customer experiences, banks in the city must embrace digital transformation strategies. This abstract presents a digital transformation strategy aimed at improving customer experience in Ho Chi Minh City banks. The strategy begins with a comprehensive assessment of the current state of digital readiness within the banks, including their IT infrastructure, systems, and processes. This assessment helps identify areas that require improvement and sets the foundation for the digital transformation journey. The strategy highlights the importance of customer-centricity and emphasizes the need for a seamless and personalized customer experience across multiple touchpoints. To achieve this, the banks are encouraged to leverage emerging technologies such as artificial intelligence, big data analytics, and robotic process automation.