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The Impact Of Digital Transformation On Business Management

Author

Listed:
  • MIHU Cantemir

    (Lucian Blaga University of Sibiu)

  • BOGOSLOV Ioana Andreea

    (Lucian Blaga University of Sibiu)

  • LUNGU Anca Elena

    (Alexandru Ioan Cuza University of Iasi)

Abstract

Digital transformation, often characterized as one of the main phenomena facing the current economy and society, exerts a strong influence on the business environment. The transition from the traditional business to the digitalized business is currently an ongoing process, as the efforts involved are not negligible and the directions of action are correlated with the continuous technological advance. In fact, in the current context, the existence of digital components as an integrated part of business is no longer an option, but a necessity. Rethinking strategies at company level in this regard becomes one of the main requirements in order to maintain a competitive position in the market. Every company should change the way of action due to the market dynamism. Thus, involving digitalization can make the difference in the entrepreneurial result(s): profits or losses. Building efficient, digitally oriented strategies, firstly implies understanding of what the digital transformation of business management entails. Given the previous mentioned aspects, the present paper aims to analyze how digital progress influences business management and to identify to what extent these changes can lead to increased competitiveness of companies. The research results derive from performing an exhaustive bibliographic study, which will allow a correct evaluation of the current state of research in the areas of interest.

Suggested Citation

  • MIHU Cantemir & BOGOSLOV Ioana Andreea & LUNGU Anca Elena, 2021. "The Impact Of Digital Transformation On Business Management," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 73(4), pages 41-64, December.
  • Handle: RePEc:blg:reveco:v:73:y:2021:i:4:p:41-64
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    References listed on IDEAS

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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Digitalization; Business; Business Management; Digital Transformation;
    All these keywords.

    JEL classification:

    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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