Digital Business Strategyâs Optimisation Model for Differential Value Creation in the Digital Age
Journal Title: International Journal of Applied Research in Management and Economics - Year 2021, Vol 4, Issue 4
Abstract
In the age where every firm is digitizing, it is no longer digitisation that leverages a firmâs competitive edge. Instead, it is the know-how of digital business strategyâs optimisation which is increasingly turning into an idiosyncratic strategic value creating resource. But even if that is the case, discerning how to bolster digital business strategyâs optimisation is still a paradox as most of the previous studies have been largely fascinated with digital transformation as a driver of digitisation. As this undermines how firms can discern how to optimise their digital business strategy, it is such a paradox that this paper sought to address by exploring a model for leveraging digital business strategyâs optimisation as a driver of differential value creation. The paper uses interpretivist research paradigm, exploratory research design and qualitative research method to explore and socially construct the opinions of sixty-six digital business managers and IT managers from the energy and chemical sector about the approaches for digital business strategyâs optimisation as well as its impact on value creation and major impediments among the multinational companies in the global energy and chemical industries. The sixty-six digital business managers and IT managers were purposively drawn from eighty multinational energy and chemical companies that are operating in South Africa, Uganda and Nigeria. Apart from investment in relevant digital technologies and digital transformation, findings revealed factors that leverage or even constrain digital business strategyâs optimisation to create differential values to often arise from how the digital business strategy is crafted and utilised as well as digital skills and level of digital culture transition. Such findings contrast theories that indicated strategic levers of digital business strategyâs optimisation to include scope, scalability, speed and sources of value creation of the digital business strategy. However, in conclusion, the paper proposes an alternative digital business strategyâs optimisation model that executives can replicate as an idiosyncratic strategic value creating resource to leverage a firmâs competitiveness in the modern complex digital age.
Authors and Affiliations
Boniface Okanga,
Keywords
Related Articles
- EP ID EP745315
- DOI -
- Views 1
- Downloads 0
The Imperatives of Financial Instruments to Addressing the Working Capital Challenges of Businesses in the Global Value Chains Trades: The New World Trading Currency
The study was carried out to examine the level of awareness on financial instruments and familiarization with any other financial instruments apart from the Letter of Credit (L/C) and Bank Guarantee (BG). Furthermore, it...
Virtual Visual Planning: A Methodology to Assess Digital Project Management Tools
In contemporary Project Management literature and practice, it is possible to distinguish two paradigms: the algorithmic-rational paradigm and the relational paradigm. The algorithmic-rational paradigm is characterized b...
Measuring Digital and Traditional Financial Inclusion in Egypt: A New Index
Digital finance has witnessed rapid development in the last few years that might threaten the way traditional financial services are being used. It creates new opportunities for small businesses and low â income groups...
Spouse Support, Innovative Behaviour and Entrepreneurial Effectiveness of Women-Owned Agricultural Small and Medium Enterprises (SMEs) in Uganda
The purpose of this study is to establish whether innovative behaviour mediates the relationship between spouse support and entrepreneurial effectiveness of Women-owned agricultural Small and Medium Enterprises in Uganda...
A bi-objective model for determining an optimal warehouse capacity, and product allocation in a green multi-product, multi-period distribution network
Nowadays, the growing trend of environmental concerns is significantly higher than in the past while the business also focuses on the supply chain more to serve the customer demand using the lowest resources possible whi...