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The Impact Of Digital Transformation On Strategic Management

Author

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  • Adrian George BOZINTAN

    (Management, Faculty of Economics and Business Administration, Babeș-Bolyai University, Cluj-Napoca, ROMANIA.)

  • Emil Lucian CRIȘAN

    (Management, Faculty of Economics and Business Administration, Babeș-Bolyai University, Cluj-Napoca, ROMANIA.)

  • Ory PINCO

    (Management, Faculty of Economics and Business Administration, Babeș-Bolyai University, Cluj-Napoca, ROMANIA.)

Abstract

Currently, there are many discussions about the impact of digital transformation on company management, with success primarily reliant on firms’ ability to adapt to new market demands. Consequently, to maintain their positions or to evolve, companies across all industries need to regularly update their structures and ideals in line with digital transformation. Although the precise definition of digital transformation is still unclear, as evidenced by inconsistencies in the literature, it is already influencing management practices carried out by companies. The goal of this paper is to analyze the impact of digital transformation, with its highly dynamic characteristics, on strategic management. In this sense, we perform a literature review of the papers which describe how the two topics are related. We discover that strategic management has evolved in response to digital transformation as conventional managerial practices nowadays would no longer work at maximum efficiency. Strategic management has changed, adopting new features, most notably faster decision-making and less arduous tasks for top managers, allowing them to focus exclusively on performing tasks that match their specific competencies. These results are useful for both practitioners and researchers in performing their daily strategic management activities, and research efforts, respectively.

Suggested Citation

  • Adrian George BOZINTAN & Emil Lucian CRIȘAN & Ory PINCO, 2023. "The Impact Of Digital Transformation On Strategic Management," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 32(1), pages 647-657, July.
    • Handle: RePEc:ora:journl:v:32:y:2023:i:1:p:647-657
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    References listed on IDEAS

    as
    1. Fernandez-Vidal, Jorge & Antonio Perotti, Francesco & Gonzalez, Reyes & Gasco, Jose, 2022. "Managing digital transformation: The view from the top," Journal of Business Research, Elsevier, vol. 152(C), pages 29-41.
    2. Michaela Wrede & Vivek K. Velamuri & Tobias Dauth, 2020. "Top managers in the digital age: Exploring the role and practices of top managers in firms' digital transformation," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 41(8), pages 1549-1567, December.
    3. J. Piet Hausberg & Kirsten Liere-Netheler & Sven Packmohr & Stefanie Pakura & Kristin Vogelsang, 2019. "Research streams on digital transformation from a holistic business perspective: a systematic literature review and citation network analysis," Journal of Business Economics, Springer, vol. 89(8), pages 931-963, December.
    4. Colin Ashurst & Neil F Doherty & Joe Peppard, 2008. "Improving the impact of IT development projects: the benefits realization capability model," European Journal of Information Systems, Taylor & Francis Journals, vol. 17(4), pages 352-370, August.
    5. Guinan, Patricia J. & Parise, Salvatore & Langowitz, Nan, 2019. "Creating an innovative digital project team: Levers to enable digital transformation," Business Horizons, Elsevier, vol. 62(6), pages 717-727.
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    More about this item

    Keywords

    digital transformation; change; strategic management; leadership; digitization.;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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