IDEAS home Printed from https://ideas.repec.org/a/agr/journl/v3(636)y2023i3(636)p249-256.html
   My bibliography  Save this article

A revolutionary journey: Business development through digitalization

Author

Listed:
  • Anna KANT

    (University Valahia of Targoviste, Romania)

Abstract

The paper examines how digitalization has significantly impacted contemporary businesses. The incorporation of digital technologies has transformed conventional business models in an era of quick technological progress. This transformation covers a range of topics, including improving operational effectiveness, extending market reach, and promoting innovation. The paper starts off by defining digitalization and tracing its history to show how it has evolved into a crucial component of modern business strategy. It emphasizes how important digitalization has been in reshaping conventional business models, with subscription-based business models and e-commerce serving as prime examples of its disruptive potential. With a focus on how automation and data-driven decision-making optimize business operations, efficiency emerges as a key theme. The importance of personalization, global market expansion, and digital marketing as tools for sustainable growth is emphasized in the paper. The paper also explores how agile development and collaborative ecosystems can promote innovation while acknowledging the difficulties and factors related to data security and the digital divide. The paper concludes by highlighting the transformative power of digitalization in forming contemporary business landscapes and highlighting its potential to boost innovation, scalability, and efficiency while navigating difficulties to promote sustainable development.

Suggested Citation

  • Anna KANT, 2023. "A revolutionary journey: Business development through digitalization," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(636), A), pages 249-256, Autumn.
    • Handle: RePEc:agr:journl:v:3(636):y:2023:i:3(636):p:249-256
    as

    Download full text from publisher

    File URL: http://store.ectap.ro/articole/1688.pdf
    Download Restriction: no
    File URL: http://www.ectap.ro/articol.php?id=1688&rid=152
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. David J. Teece & Gary Pisano & Amy Shuen, 1997. "Dynamic capabilities and strategic management," Strategic Management Journal, Wiley Blackwell, vol. 18(7), pages 509-533, August.
    2. Raluca Iuliana GEORGESCU, 2023. "Modern leadership in business organisations during economic disruption," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(635), S), pages 73-82, Summer.
    3. Dumitru Alexandru BODISLAV & Florina BRAN & Mihai DINU & Raluca Iuliana GEORGESCU, 2021. "Responsible Development For Managing A Sustainable Future," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 15(1), pages 358-363, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Traversac, Jean-Baptiste & Rousset, Sylvain & Perrier-Cornet, Philippe, 2011. "Farm resources, transaction costs and forward integration in agriculture: Evidence from French wine producers," Food Policy, Elsevier, vol. 36(6), pages 839-847.
    2. Roberta De Angelis & Robert Morgan & Luigi M. De Luca, 2023. "Open strategy and dynamic capabilities: A framework for circular economy business models research," Business Strategy and the Environment, Wiley Blackwell, vol. 32(7), pages 4861-4873, November.
    3. Eleonora Bartoloni, 2013. "Capital structure and innovation: causality and determinants," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 40(1), pages 111-151, February.
    4. Swen Nadkarni & Reinhard Prügl, 2021. "Digital transformation: a review, synthesis and opportunities for future research," Management Review Quarterly, Springer, vol. 71(2), pages 233-341, April.
    5. Kibaek Lee & Jaeheung Yoo & Munkee Choi & Hangjung Zo & Andrew P Ciganek, 2016. "Does External Knowledge Sourcing Enhance Market Performance? Evidence from the Korean Manufacturing Industry," PLOS ONE, Public Library of Science, vol. 11(12), pages 1-19, December.
    6. Nancy Haskell & Sophie Veilleux & Donald Béliveau, 2016. "Functional and contextual dimensions of INVs’ alliance partner selection," Journal of International Entrepreneurship, Springer, vol. 14(4), pages 483-512, December.
    7. Panagiotis Trivellas & Georgios Malindretos & Panagiotis Reklitis, 2020. "Implications of Green Logistics Management on Sustainable Business and Supply Chain Performance: Evidence from a Survey in the Greek Agri-Food Sector," Sustainability, MDPI, vol. 12(24), pages 1-29, December.
    8. Jiatong Yu & Jiajue Wang & Taesoo Moon, 2022. "Influence of Digital Transformation Capability on Operational Performance," Sustainability, MDPI, vol. 14(13), pages 1-20, June.
    9. Benlagha, Noureddine & Hemrit, Wael, 2020. "Internet use and insurance growth: evidence from a panel of OECD countries," Technology in Society, Elsevier, vol. 62(C).
    10. Brendan Gray & Rod McNaughton, 2010. "Knowledge, values and internationalisation—introduction to the special edition," Journal of International Entrepreneurship, Springer, vol. 8(2), pages 115-120, June.
    11. Chinho Lin & Ming-Lung Hsu & David C. Yen & Ping-Jung Hsieh & Hua-Ling Tsai & Tsung-Hsien Kuo, 2013. "Prototype system for pursuing firm’s core capability," Information Systems Frontiers, Springer, vol. 15(3), pages 497-509, July.
    12. Chin‐jung Luan & Chengli Tien & Pei‐hua Wu, 2013. "Strategizing Environmental Policy and Compliance for Firm Economic Sustainability: Evidence from Taiwanese Electronics Firms," Business Strategy and the Environment, Wiley Blackwell, vol. 22(8), pages 517-546, December.
    13. Adrian Gourlay & Jonathan Seaton, 2004. "The determinants of firm diversification in UK quoted companies," Applied Economics, Taylor & Francis Journals, vol. 36(18), pages 2059-2071.
    14. John A. Parnell, 2017. "Cronyism from the Perspective of the Firm: A Cross-National Assessment of Nonmarket Strategy," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 32(Fall 2017), pages 47-74.
    15. Inseong Song & Jonghoon Bae, 2016. "Politics, strong institution and competitive advantage: an examination of organizational aspiration for competition," Computational and Mathematical Organization Theory, Springer, vol. 22(4), pages 412-443, December.
    16. Abiodun Tope Samson, 2015. "The Impact of Entrepreneurial Orientation, Reconfiguring Capability and Moderation of Environmental Turbulence on Export Performance of SMEs in Nigeria," Journal of Economics and Behavioral Studies, AMH International, vol. 7(3), pages 76-87.
    17. Carlos Barros & António Gomes de Menezes & Nicolas Peypoch & Bernardin Solonandrasana & José Vieira, 2008. "An analysis of hospital efficiency and productivity growth using the Luenberger indicator," Health Care Management Science, Springer, vol. 11(4), pages 373-381, December.
    18. Andreas Kallmuenzer & Ursula Scholl-Grissemann, 2017. "Disentangling antecedents and performance effects of family SME innovation: A knowledge-based perspective," International Entrepreneurship and Management Journal, Springer, vol. 13(4), pages 1117-1138, December.
    19. Aron Lindberg & Nicholas Berente & James Gaskin & Kalle Lyytinen, 2016. "Coordinating Interdependencies in Online Communities: A Study of an Open Source Software Project," Information Systems Research, INFORMS, vol. 27(4), pages 751-772, December.
    20. Díez, José Ignacio & Giannasi, Nadia & Scudelati, Mariela, 2022. "Redes, conocimientos y capacidades en el contexto de la industria del software. Análisis del caso Bahía Blanca [Network, knowledge and capabilities in the context of the software industry. Analysis," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 34(1), pages 137-154, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:agr:journl:v:3(636):y:2023:i:3(636):p:249-256. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mircea Dinu (email available below). General contact details of provider: https://edirc.repec.org/data/agerrea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.