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Digital Transformation and Value Creation: Sea Change Ahead

Author

Listed:
  • Reddy Srinivas K.

    (Professor of Marketing, Director Center for Marketing Excellence, Singapore, Management University, Singapore)

  • Reinartz Werner

    (Professor of Marketing and Director of the Center of Research in Retailing (IFH), University of Cologne, Germany)

Abstract

Digital transformation is taking place all around us and there is hardly a single aspect of life that has not been affected. It has an obvious, lasting, and even revolutionary impact, not only on the economic systems and commercial players, but also on the lives of individuals and on society at large. Digital transformation will bring greater tangible and intangible value, but the changes do come with certain costs and risks, sometimes unforeseen. In terms of business strategy, digital technology has been transforming businesses dramatically. Even young companies that have been at the forefront of digital disruption are forced to reinvent and transform themselves and their businesses permanently in order to survive and thrive. If incumbents themselves don’t take advantage of this digital progress to innovate, others will. A new wave of digital disruptors is changing the face of industries. The ability to innovate is thus more important than ever. Entire industries may be threatened if they do not react quickly, while others are emerging almost instantly as if out of nowhere. Handling speed and providing real-time solutions is therefore one of the most critical skills in a digital world.

Suggested Citation

  • Reddy Srinivas K. & Reinartz Werner, 2017. "Digital Transformation and Value Creation: Sea Change Ahead," NIM Marketing Intelligence Review, Sciendo, vol. 9(1), pages 10-17, May.
    • Handle: RePEc:vrs:gfkmir:v:9:y:2017:i:1:p:10-17:n:2
    DOI: 10.1515/gfkmir-2017-0002
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    Citations

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    Cited by:

    1. Hamid Etemad, 2023. "The emerging new architecture in international entrepreneurship: Dynamic impacts of business models transformation favoring accelerated internationalization of smaller enterprises," Journal of International Entrepreneurship, Springer, vol. 21(3), pages 271-300, September.
    2. Di Ye & Bin Xu & Bingling Wei & Linlin Zheng & Yenchun Jim Wu, 2024. "Employee work engagement in the digital transformation of enterprises: a fuzzy-set qualitative comparative analysis," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.
    3. André Hanelt & René Bohnsack & David Marz & Cláudia Antunes Marante, 2021. "A Systematic Review of the Literature on Digital Transformation: Insights and Implications for Strategy and Organizational Change," Journal of Management Studies, Wiley Blackwell, vol. 58(5), pages 1159-1197, July.
    4. Piepponen, Amanda & Ritala, Paavo & Keränen, Joona & Maijanen, Päivi, 2022. "Digital transformation of the value proposition: A single case study in the media industry," Journal of Business Research, Elsevier, vol. 150(C), pages 311-325.
    5. Kao, Ling-Jing & Chiu, Chih-Chou & Lin, Hung-Tse & Hung, Yun-Wei & Lu, Cheng-Chin, 2024. "Unveiling the dimensions of digital transformation: A comprehensive taxonomy and assessment model for business," Journal of Business Research, Elsevier, vol. 176(C).
    6. Shahriar Akter & Katina Michael & Muhammad Rajib Uddin & Grace McCarthy & Mahfuzur Rahman, 2022. "Transforming business using digital innovations: the application of AI, blockchain, cloud and data analytics," Annals of Operations Research, Springer, vol. 308(1), pages 7-39, January.
    7. Bhaskar Choudhuri & Praveen Ranjan Srivastava & Shivam Gupta & Ajay Kumar & Surajit Bag, 2021. "Determinants of Smart Digital Infrastructure Diffusion for Urban Public Services," Post-Print hal-03628404, HAL.
    8. M. Mahdi Moeini Gharagozloo & Fatemeh Askarzadeh & Ali Moeini Gharagozloo, 2022. "More power for international entrepreneurs: the effect of digital readiness of economies on channeling national R&D resources to entrepreneurship," Journal of International Entrepreneurship, Springer, vol. 20(3), pages 474-502, September.
    9. Ziboud Van Veldhoven & Jan Vanthienen, 2022. "Digital transformation as an interaction-driven perspective between business, society, and technology," Electronic Markets, Springer;IIM University of St. Gallen, vol. 32(2), pages 629-644, June.
    10. Lazar Raković & Slobodan Marić & Lena Đorđević Milutinović & Marton Sakal & Slobodan Antić, 2022. "What about the Chief Digital Officer? A Literature Review," Sustainability, MDPI, vol. 14(8), pages 1-14, April.
    11. Saleh Fahed Alkhatib & Rahma Asem Momani, 2023. "Supply Chain Resilience and Operational Performance: The Role of Digital Technologies in Jordanian Manufacturing Firms," Administrative Sciences, MDPI, vol. 13(2), pages 1-25, January.
    12. Qianru Liu & Jianmei Liu & Cheng Gong, 2023. "Digital transformation and corporate innovation: A factor input perspective," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(4), pages 2159-2174, June.

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