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Advantages and Challenges of Digital Technology

In: Technology and Business Strategy

Author

Listed:
  • Igor Stepnov

    (Moscow State Institute of International Relations (MGIMO University)
    Financial University under the Government of the Russian Federation)

Abstract

The specific benefits of digital technologies in various fields of activity have been presented in the previous chapters of the book. The purpose of this chapter is to take a critical look at digital technologies. The growing debate about the effectiveness of digital strategies based on technological innovation allows us to systematize the reasons why particular digital strategies fail. The systematization is based on the fact that the financial results of digital companies differ from those of industrial companies. The challenges of digital technologies are highlighted as threats to the efficiency of business models, classified by their interaction with both the internal and external environment. Moreover, for digital technologies many parameters of the external environment become those of the internal environment. It is concluded that the list of identified problems and threats is not final. However, the digital approach can be applied for both research and practical activities, with faith in the future of man.

Suggested Citation

  • Igor Stepnov, 2021. "Advantages and Challenges of Digital Technology," Springer Books, in: Igor Stepnov (ed.), Technology and Business Strategy, edition 1, chapter 0, pages 295-308, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-63974-7_22
    DOI: 10.1007/978-3-030-63974-7_22
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