5 months ago
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JRFM, Vol. 16, Pages 488: Pinpointing the Driving Forces Propelling Digital Business Transformation
Journal of Risk and Financial Management doi: 10.3390/jrfm16110488
Authors: Andrej Miklosik Alexander Bernhard Krah
Comprehending the motivating factors that drive Digital Business Transformation (DBT) is crucial for cultivating success in DBT initiatives. The objective of the research outlined in this paper was to pinpoint and categorize the factors that inspire companies to embark on the DBT journey. Through qualitative analysis, employing expert interviews as the method, the authors extracted the necessary information to address three key research questions: (i) What are the external drivers of DBT in the plastic extrusion machine industry? (ii) Which internal factors are driving DBT in these companies? (iii) Is there anything else significantly impacting the DBT initiatives? The identified driving forces propelling DBT in German businesses within this industry include external factors: skill shortage, social impact, COVID-19, supply bottlenecks, competitiveness, and customer requirements; internal factors: cost reduction, process acceleration, efficiency increases, and time savings; and mixed factors: attitude of young people, basic education, and work–life balance. The insights derived from this research enhance the understanding of the circumstances and dynamics of traditional companies across other Western European countries. Our findings enrich the existing theory by presenting a distinctive threefold categorization of the drivers behind DBT, providing unique insights into the factors propelling the advancement of DBT initiatives.
