Business Strategies in The Age of Digital Transformation




Business, Business Strategy, Digital Transformation, Technology, Digitalization.


The 21st century has witnessed a rapid transformation in the business world with the emergence of digital technologies. Digital transformation has enabled companies to enhance their business processes, improve customer experiences, and gain a competitive edge. Therefore, the changing expectations of consumers have necessitated the development and implementation of innovative business strategies. This research paper aims to explore the impact of digital transformation on business strategies and identify the most effective tactics for businesses to succeed in this new era. Through a thorough literature review, this paper discusses the key drivers of digital transformation and the various challenges and opportunities it presents. The present study utilizes secondary data from the internet, newspapers, publications, journals, and books and involves a qualitative analysis. The findings indicate that companies embracing digital transformation and leveraging technology to enhance their business processes have succeeded. Overall, this research paper provides valuable insights into the challenges and opportunities of digital transformation and offers practical recommendations for businesses looking to grow in this new era. The study emphasizes the importance of adopting a customer-centric approach, embracing emerging technologies, and developing agile and adaptable business models to maintain competitiveness and relevance in the age of digital transformation.  

Keywords: Business, Business Strategy, Digital Transformation, Technology, Digitalization.

JEL Classification Code: M16, M20, N10, O10, and O33.



Artemenko, E. (2020). The roles of top management in digital transformation. IOP Conference Series.Materials Science and Engineering, 940(1)

Bican, P. M., & Brem, A. (2020). Digital Business Model, Digital Transformation, Digital Entrepreneurship: Is There a Sustainable “Digital”? Sustainability, 12(13), 5239.

Buck, C., Clarke, J., Oliveira, R. T. D., Desouza, K. C., & Maroufkhani, P. (2023). Digital Transformation in Asset-intensive Organisations: The Light and the Dark Side. Journal of Innovation & Knowledge. Volume 8. Issue 2. P 100335. ISSN 2444-569X. Retrieved from

Caliskan, A., Yeşim Deniz Özkan Özen, & Ozturkoglu, Y. (2021). Digital transformation of traditional marketing business model in new industry era. [Digital marketing business model] Journal of Enterprise Information Management, 34(4), 1252-1273.

Carla, S. P., Durão, N., Moreira, F., & Veloso, B. (2022). The Importance of Digital Transformation in International Business. Sustainability, 14(2), 834.

Corejova, T., & Chinoracky, R. (2021). Assessing the Potential for Digital Transformation. Sustainability, 13(19), 11040.

Fallahpour, A., Yazdani, M., Mohammed, A. and Wong, K. Y. (2021). Green sourcing in the era of industry 4.0: towards green and digitalized competitive advantages". Industrial Management & Data Systems, Vol. 121 No. 9, pp. 1997-2025.

Fenech, R., Baguant, P., & Ivanov, D. (2019). The Changing Role of Human Resource Management in an Era of Digital Transformation. Journal of Management Information and Decision Sciences, 22(2), 1-10.

Guo, H.; Yang, Z.; Huang, R.; 2020. The digitalization and public crisis responses of small and medium enterprises: Implications from a COVID-19 survey. Front. Bus. Res. China, 14, 1–25.

Hanninen, M., Smedlund, A., & Mitronen, L. (2018). Digitalization in retailing: multi-sided platforms as drivers of industry transformation. [Digitalization in retailing] Baltic Journal of Management, 13(2).

Jones, M. D., Hutcheson, S. J., & Camba, J. D. (2021). Past, Present, and Future Barriers to Digital Transformation in Manufacturing: A Review. Journal of Manufacturing Systems, 60 (2021), pp. 936-948.

Khanom, T. (2020). The Accountancy Profession in the Age of Digital Transformation: Challenges and Opportunities. International Journal of Creative Research and Thoughts (IJCRT). Volume 8, Issue 2(February 2020), P 25–34, ISSN 2320-2882,

Li, F. (2020). The digital transformation of business models in the creative industries: A holistic framework and emerging trends. Technovation. Volume 92-93. P-102012.ISSN:0166-4972. Retrieved from:

Lozic, J. (2019). Core Concept of Business Transformation: From Business Digitization To Business Digital Transformation. Varazdin Development and Entrepreneurship Agency (VADEA).

Nambisan, S. (2017). Digital Entrepreneurship: Toward a Digital Technology Perspective of Entrepreneurship: ET&P. Entrepreneurship Theory and Practice, 41(6), 1029–1055.

Orji, C. I. (2019). Digital Business Transformation: Towards an Integrated Capability Framework for Digitization and Business Value Generation. Journal of Global Business and Technology, 15(1), 47–57.

Rossato, C., & Castellani, P. (2020). The contribution of Digitalization to business longevity from a competitiveness perspective. [Digitalization and business longevity] TQM Journal, 32(4), 617-645.

Rothaermel, T.F. (2020). Strategic Management. (5th Edition). McGraw-Hill Education.

Stalmachova, K., Chinoracky, R., & Strenitzerova, M. (2022). Changes in Business Models Caused by Digital Transformation and the COVID-19 Pandemic and Possibilities of Their Measurement—Case Study. Sustainability, 14(1), 127.

Tavassoli, S. & Karlsson, C. (2016). Innovation strategies and firm performance: Simple or complex strategies? Economics of Innovation and New Technology, 25, 631 - 650.