engleski

Digital Business Transformation - a New Challenge for Modern Companies and Economic Progress

Digital business transformation is a major challenge for the development of digital companies, but it is also a very complex process with regard to its implementation and management within the company. In the literature there are different approaches to implementing such a process and evaluating its maturity. The purpose of the paper is to describe the transformation of the Information Technology (next IT) function and to emphasize the strategic role of IT for business and analyze and apply one of the practical approaches to digital business transformation in the specific case. IT support can play the leading role in the Belt and Road Initiative implementation. By applying digital technologies and delivering innovative IT services, businesses will provide their customers with greater support and meet the required customer experience, and for Belt and Road areas to create new opportunities for linking countries and economic progress. One of the important megatrends of the global business development is digital business transformation that supports companies in the development of the mainland and overseas markets. Digital business transformation refers to the constant application of digital technologies aimed at the design of innovative business strategies and disruptive business models, new ways of management in order to offer customers better products, services and especially the experience of their use. Which methodology is used in the work? Given that one of the objectives of the paper is to analyze the practical approaches for the implementation of digital business transformation, this analysis is performed through 6 aspects of digital capabilities: innovation capability, transformation capability, IT excellence, customer centricity, effective knowledge worker and operational excellence. All these aspects can be identified in different activities supporting the Belt and Road Initiative. Each aspect of digital capabilities can be evaluated using the business transformation management methodology. This methodology is used in the paper and it includes 9 categories of management (Strategy Management ; Value Management ; Risk Management ; Business Process Management ; IT Management ; Organizational Change Management ; Training Management ; Program and Project Management and Meta Management). In the practical part of the research the author estimates the digital capability of a concrete company for the customer centricity as one of the aspects of digital capabilities using the business transformation management methodology. In addition, the method of interviewing the business and IT managers of the concrete company is also used. Customer centricity is a significant digital transformation goal for the company that is dependent on a lot of factors such as new technology, corporate values, communication, IT management, risk management, quality management, strategies, business processes, knowledge and motivation of employees. In terms of the digital economy, focus on the customer is an important strategic goal and companies can facilitate the achievement of better business results compared to companies that are not oriented to customers. Managing customer experience is a significant goal of digital business transformation. The results of the research conducted in the paper can be useful guidelines for the business and IT managers in managing digital business transformation as a significant factor for success and market competition. The conducted analysis enables the further assessing the company's digital capabilities from other aspects, including other methods. The originality of the article is the application of new approaches to managing digital business transformation as a major challenge to the advancement of mankind.

Digital business transformation ; the transformation of the IT function ; IT and the Belt and Road Initiative

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