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International Journal of Contemporary Research in Multidisciplinary

International Journal of Contemporary Research In Multidisciplinary, 2024;3(4):16-18

The Digital Transformation of Strategic Management: A Review of The Current State and Future Directions

Author Name: Dr. Latika V Shanbhag;  

1. Joint Academic Dean & Research Guide, IIBM Institute of Business Management, Pune, Maharashtra, India

Abstract

This research explores the current state of digital transformation in strategic management, identifying key trends, opportunities, and challenges. Digital transformation has revolutionized business models, customer experiences, and operational efficiency, necessitating a fundamental shift in strategic management practices. The study examines the adoption of digital technologies, successful case studies, and challenges faced by organizations. Emerging trends and technologies, such as quantum computing, augmented reality, and artificial general intelligence, will shape the future of strategic management. The research highlights the need for strategic managers to develop digital literacy and skills, foster a culture of innovation, and prioritize continuous learning to effectively navigate digital transformation. The study provides insights into the implications of digital transformation for strategic management practices, including new business models, enhanced customer experiences, and sustainable competitive advantage.

Keywords

Digital transformation, Strategic management, Digital strategy, Digital leadership, Digital innovation, Business model innovation, Digital disruption, Technological advancements, Artificial intelligence (AI), Blockchain, Internet of Things (IoT), Big data analytics, Cloud computing, Digitalization, Strategic planning, Organizational change, Digital Culture, Digital capabilities, Competitive advantage, Future directions