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Assessing the Potential for Digital Transformation

Author

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  • Tatiana Corejova

    (CEE Institute, Ningbo University of Technology, Ningbo 315211, China
    The Faculty of Operation and Economics of Transport and Communications, University of Zilina, Univerzitna 8215, 010 26 Zilina, Slovakia)

  • Roman Chinoracky

    (The Faculty of Operation and Economics of Transport and Communications, University of Zilina, Univerzitna 8215, 010 26 Zilina, Slovakia)

Abstract

Historically, new technologies have always increased the efficiency of production processes. Production process efficiency increases productivity. With the growth of productivity, there is usually an increase in sales and profit. Today’s world is mainly influenced by digital technologies. The digitization of production processes leads to the digital transformation of the business and natural economy sectors. If, like other technologies in the past, the effects of digital technologies are associated with a growth in efficiency, productivity and thus also revenues and profits, the aim of this article is to propose a model to assess the potential of a digital transformation from a macroeconomic perspective. The proposed model, which was based on a composite indicator expressing the potential for digital transformation, was quantified for a certain period and for a selected sample of countries. The potential for digital transformation can occur in any country, regardless of the purchasing power of its population and GDP per capita. We can assume that the economic benefits of digital technologies are obvious. Businesses operating in any country innovate and are driven by digital technologies. This is also reflected in employment. New workers who know how to work with digital technologies are needed. Therefore, the results of the assessments and the proposal itself serve as a basis for national policy makers to create national strategies for digital transformation.

Suggested Citation

  • Tatiana Corejova & Roman Chinoracky, 2021. "Assessing the Potential for Digital Transformation," Sustainability, MDPI, vol. 13(19), pages 1-15, October.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:19:p:11040-:d:650422
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    References listed on IDEAS

    as
    1. Daniel R. A. Schallmo & Christopher A. Williams, 2018. "Digital Transformation Now!," SpringerBriefs in Business, Springer, number 978-3-319-72844-5, January.
    2. Roman Chinoracky & Tatiana Corejova, 2021. "How to evaluate the digital economy scale and potential?," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(4), pages 536-552, June.
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    Cited by:

    1. Mihaela Brindusa Tudose & Amalia Georgescu & Silvia Avasilcăi, 2023. "Global Analysis Regarding the Impact of Digital Transformation on Macroeconomic Outcomes," Sustainability, MDPI, vol. 15(5), pages 1-21, March.
    2. Muhammad Imran & Xiangyang Liu & Rongyu Wang & Shah Saud & Yun Zhao & Muhammad Jalal Khan, 2022. "The Influence of Digital Economy and Society Index on Sustainable Development Indicators: The Case of European Union," Sustainability, MDPI, vol. 14(18), pages 1-16, September.

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