Digitalization & Sustainability Review

Peer Reviewed Article

Vol. 3 No. 1 (2023)

Digital Transformation: How Technology is Reshaping Traditional Business Models

Submitted
4 September 2023
Published
03-11-2023

Abstract

Digital transformation has become a dominant trend in the business world in recent years. The rapid development of information and communication technology has enabled organizations to change the way they operate, interact with customers, and compete in the market. This research aims to analyze the impact of digital transformation on business models and competitive advantage. This research is a literature review that uses a qualitative approach, which implies that data will be analyzed and interpreted using information and text obtained from various sources. The study results show that in the ongoing era of digital transformation, its impact on business models and competitive advantage is an aspect that cannot be ignored. This digital transformation has changed the fundamentals of how organizations operate and interact with customers, and how they can win the competition in an increasingly fierce market. Digital transformation has brought about a significant business paradigm shift. Today, more organizations are integrating digital technology as an integral part of their business model. It is no longer an option, but a necessity to maintain relevance and competitiveness in the market.

References

  1. Aboramadan, M., Albashiti, B., Alharazin, H., & Zaidoune, S. (2019). Organizational culture, innovation and performance: a study from a non-western context. Journal of Management Development.
  2. Alawida, M., Omolara, A. E., Abiodun, O. I., & Al-Rajab, M. (2022). A deeper look into cybersecurity issues in the wake of Covid-19: A survey. Journal of King Saud University - Computer and Information Sciences.
  3. Ausat, A. M. A., & Suherlan, S. (2021). Obstacles and Solutions of MSMEs in Electronic Commerce during Covid-19 Pandemic: Evidence from Indonesia. BASKARA: Journal of Business and Entrepreneurship.
  4. Ausat, A. M. A., Siti Astuti, E., & Wilopo. (2022). Analisis Faktor Yang Berpengaruh Pada Adopsi E-commerce Dan Dampaknya Bagi Kinerja UKM Di Kabupaten Subang. Jurnal Teknologi Informasi Dan Ilmu Komputer (JTIIK).
  5. Camarinha-Matos, L. M., Fornasiero, R., Ramezani, J., & Ferrada, F. (2019). Collaborative Networks: A Pillar of Digital Transformation. Applied Sciences, 9(24), 5431.
  6. Cascio, W. F., & Montealegre, R. (2016). How Technology Is Changing Work and Organizations. Annual Review of Organizational Psychology and Organizational Behavior.
  7. Cetindamar Kozanoglu, D., & Abedin, B. (2021). Understanding the role of employees in digital transformation: conceptualization of digital literacy of employees as a multi-dimensional organizational affordance. Journal of Enterprise Information Management.
  8. Chandra, S., Verma, S., Lim, W. M., Kumar, S., & Donthu, N. (2022). Personalization in personalized marketing: Trends and ways forward. Psychology & Marketing.
  9. Chen, T., Samaranayake, P., Cen, X., Qi, M., & Lan, Y.-C. (2022). The Impact of Online Reviews on Consumers’ Purchasing Decisions: Evidence From an Eye-Tracking Study. Frontiers in Psychology.
  10. Cremer, F., Sheehan, B., Fortmann, M., Kia, A. N., Mullins, M., Murphy, F., & Materne, S. (2022). Cyber risk and cybersecurity: a systematic review of data availability. The Geneva Papers on Risk and Insurance - Issues and Practice.
  11. Faraj, S., & Leonardi, P. M. (2022). Strategic organization in the digital age: Rethinking the concept of technology. Strategic Organization.
  12. Farida, I., & Setiawan, D. (2022). Business Strategies and Competitive Advantage: The Role of Performance and Innovation. Journal of Open Innovation: Technology, Market, and Complexity.
  13. Geissdoerfer, M., Vladimirova, D., & Evans, S. (2018). Sustainable business model innovation: A review. Journal of Cleaner Production.
  14. Haleem, A., Javaid, M., Asim Qadri, M., Pratap Singh, R., & Suman, R. (2022). Artificial intelligence (AI) applications for marketing: A literature-based study. International Journal of Intelligent Networks.
  15. Hoffman, D. L., Moreau, C. P., Stremersch, S., & Wedel, M. (2022). The Rise of New Technologies in Marketing: A Framework and Outlook. Journal of Marketing.
  16. Huseynov, F. (2021). Big Data in Business. In Disruptive Technology and Digital Transformation for Business and Government (pp. 235–249). IGI Global.
  17. Jiang, H., & Zhang, Y. (2016). An investigation of service quality, customer satisfaction and loyalty in China’s airline market. Journal of Air Transport Management.
  18. Kraus, S., Durst, S., Ferreira, J. J., Veiga, P., Kailer, N., & Weinmann, A. (2022). Digital transformation in business and management research: An overview of the current status quo. International Journal of Information Management.
  19. Kusumasari, B. (2015). The Business Model of Social Entrepreneurship in Indonesia. International Journal of Administrative Science & Organization.
  20. Mikalef, P., Krogstie, J., Pappas, I. O., & Pavlou, P. (2020). Exploring the relationship between big data analytics capability and competitive performance: The mediating roles of dynamic and operational capabilities. Information & Management.
  21. Pereira, C. S., Durão, N., Moreira, F., & Veloso, B. (2022). The Importance of Digital Transformation in International Business. Sustainability.
  22. Peric, M., Durkin, J., & Vitezic, V. (2017). The Constructs of a Business Model Redefined: A Half-Century Journey. SAGE Open, 7(3), 1–13.
  23. Plekhanov, D., Franke, H., & Netland, T. H. (2022). Digital transformation: A review and research agenda. European Management Journal.
  24. Rêgo, B. S., Jayantilal, S., Ferreira, J. J., & Carayannis, E. G. (2022). Digital Transformation and Strategic Management: a Systematic Review of the Literature. Journal of the Knowledge Economy.
  25. Scaling AI through co-evolutionary processes and feedback loops. Journal of Business Research.
  26. Sjödin, D., Parida, V., Palmié, M., & Wincent, J. (2021). How AI capabilities enable business model innovation:
  27. Stalmachova, K., Chinoracky, R., & Strenitzerova, M. (2021). Changes in Business Models Caused by Digital Transformation and the COVID-19 Pandemic and Possibilities of Their Measurement—Case Study. Sustainability.
  28. Sundaram, A. (2017). Leveraging Social Media for Development in Organisations. Asian Social Science.
  29. Thompson, C. R., Talla, R. R., Gummadi, J. C. S., Kamisetty, A (2019). Reinforcement Learning Techniques for Autonomous Robotics. Asian Journal of Applied Science and Engineering, 8(1), 85-96. https://ajase.net/article/view/94
  30. Tyrväinen, O., Karjaluoto, H., & Saarijärvi, H. (2020). Personalization and hedonic motivation in creating customer experiences and loyalty in omnichannel retail. Journal of Retailing and Consumer Services.
  31. Verhoef, P. C., Broekhuizen, T., Bart, Y., Bhattacharya, A., Qi Dong, J., Fabian, N., & Haenlein, M. (2021). Digital transformation: A multidisciplinary reflection and research agenda. Journal of Business Research.
  32. Vial, G. (2019). Understanding digital transformation: A review and a research agenda. The Journal of Strategic Information Systems.
  33. Wibowo, A., Chen, S.-C., Wiangin, U., Ma, Y., & Ruangkanjanases, A. (2020). Customer Behavior as an Outcome of Social Media Marketing: The Role of Social Media Marketing Activity and Customer Experience. Sustainability.
  34. Zahra, S. A., Ireland, R. D., & Hitt, M. A. (2000). International Expansion by New Venture Firms: International Diversity, Mode of Market Entry, Technological Learning, and Performance. Academy of Management Journal.
  35. Zeng, F., Lee, S. H. N., & Lo, C. K. Y. (2020). The Role of Information Systems in the Sustainable Development of Enterprises: A Systematic Literature Network Analysis. Sustainability.

Similar Articles

1-10 of 14

You may also start an advanced similarity search for this article.