THE IMPACT OF DIGITAL TRANSFORMATION ON STRATEGIC BUSINESS MANAGEMENT

Abstract

The research paper aims to identify and showcase key drivers of strategic business management development in the light of the recent waves of digital transformation experienced by companies around the globe. The paper consists of an overview on the existing literature and a concise outline of the research conducted. Both research results from professional associations as well as recognized publishers were considered. Furthermore, expert interviews as well as market data were factored in for drawing a comprehensive picture on strategic management theories and frameworks, as well as the history and influence of digital transformation. Our research revealed that digital transformation is worldwide phenomena; however the regional impact differs significantly depending on the regulatory environment and the level of economic sophistication. In essence, the disruptive nature of this trend has the potential to shake the foundations of industries which requires firms to fundamentally change their strategic management approach. The introduction of the digital transformation strategy framework aims to address these challenges and aims to foster additional research in this field. The research was conducted as part of the Research Centre of Business Administration in The Bucharest University of Economic Studies, Romania.