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Factors of the Digital Transformation

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  • Simeon Lazarov

Abstract

The digital transformation is profoundly changing organizations and creating new comparative advantages but also necessitating new approaches to management and organizational strategy. The majority of research on business’ digital transformation focuses on technological adoption, innovation, value creation and the dynamic capabilities of organizations. However, the question of why different organizations approach the digital transformation in various ways remains less explored. This article examines the possibilities of inferring various factors that have an impact on the adoption of digital technologies in order to improve the understanding of organizations' digital transformation strategies. Factors such as size, internationalization, research and development (R&D) expenses, foreign direct investment (FDI), turnover, wages and salaries have an expected impact on the adoption of new technologies in an organization and its digital transformation. This is supported by organizational theories such as the resource-based view (RBV), the knowledge-based view (KBV) and the technology-organization-environment (TOE) frameworks. Through examples from the scientific literature, a summary is provided on how the study of the interrelationships between these factors and organizations’ digital transformation can contribute to a better understanding of the different strategies in this field.

Suggested Citation

  • Simeon Lazarov, 2024. "Factors of the Digital Transformation," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 367-387.
    • Handle: RePEc:bas:econth:y:2024:i:3:p:367-387
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    JEL classification:

    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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