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Digital Transformation in Today's world

The term Digital Transformation refers to the enormous changes in society, industry, and organizations brought about by developments in digital technologies such as artificial intelligence, big data analytics, cloud computing, and the Internet of Things (IoT). Digital transformation is accelerating in underdeveloped countries. However, adoption tends to be higher in developed countries. As a result, the purpose of this article is to introduce you to the key areas of digital transformation in developing countries.

The global market for digital transformation is anticipated to expand from $469.8 billion in 2020 to $1,009.8 billion by 2025. Many businesses have already implemented a digital strategy.

Business Process Transformation

Modern businesses are moving from the development path to digital transformation roadmaps and pilot projects that form an innovative environment that is characterized by a new paradigm of activity with appropriate methodological transformation. The foundation of digital transformation is not so much in the implementation of innovative solutions technologies but in a series of changes aimed at developing a new business model with the introduction of digital culture and training of integrated professional skills. The idea of rethinking the ways and tools of doing business with conceptual transformations is contained in a radical change in the company's business model, corresponding to the changes inherent in the external corporate ecosystem.

The business model is the value of the company, which determines its pace of development and is an element of the organizational code, the elements of which form a complex system with complex relationships that form the basis of the development model through the transformation of source resources into a competitive advantage. Values as a change factor, standards of action and development priority are elements of the corporate culture, which today must correspond to the logic of digital transformations. The development must start from the cultural transformation innovative process of the digital development of a company since the activity culture is a program that provides a knowledge base, response models, and situational solutions that together form a development roadmap.

Domain Transformation

Domain transformation is a topic that receives little attention but has shown promising results. Modern technologies have the potential to reshape products and services, break industry boundaries, and create opportunities for non-traditional competitors. This type of large-scale change offers organizations tremendous opportunities to create new values.

A notable example of how domain transformation works is the case of the online retailer Amazon, which emerged as a new market domain with the launch of Amazon Web Services (AWS). Today, AWS is the largest cloud computing/infrastructure service provider in the world, in an industry previously dominated by high-profile giants Microsoft and IBM.

All businesses undergoing digital transformation should consider the new domain transformation opportunities presented by the incorporation of new technologies.

Cultural/Organization Transformation

Cultural transformation is a process that can occur throughout an organization or in individual departments and teams. Changing the workforce's hearts, minds, and talents is necessary to support the desired culture, changing the workforce's hearts, minds, and talents is necessary. To change their conduct, the individual must first have conviction (heart). Then they must comprehend what it is to alter one's opinion and have the tools (skills) to do so.

A well-planned cultural change strategy is especially critical for multinational enterprises with distributed offices and heterogeneous employees. Organizations can assist in defining and supply common goals and values to drive desired behavior across geographic and cultural borders when the transformation is done correctly.

Key Outcomes of Digital Transformation

Modern technology enables firms to continually change and go through digital transformations that increase their productivity and market competitiveness. To achieve meaningful digital transformation, organizations should go beyond technology. Organizations can only profit from digitization in the following ways: improved operations, creating collaboration opportunities, growth of service offerings, and a new radical approach to customer experience.

Conclusion

There is potential for disruption in products that include digital technologies as well as more conventional ones. In general, digital technology enables disruption in many facets of life. For example, the concept of leadership is no longer associated with hierarchy and structure. A new breed of leaders exists in knowledge. Before lately, it was unthinkable for isolated individuals to virtually collaborate while sitting in distinct parts of the globe. There is no longer a geographic boundary. The traditional hierarchy is also based on mechanical principles, which increases the likelihood of resource cooperation across firms when cooperation and collaboration are smooth.

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