Opportunities, Strategies, and Pitfalls 

Nicolai Etienne Fabian (RUG), John Qi Dong
(Trinity College Dublin, University of Dublin) and
Abhi Bhattacharya (University of Alabama)

Introduction video

Digital transformation puts enormous pressure on companies to become more digital. By incorporating digital technologies in their businesses, companies can generate value for their customers in fully new ways. The key to such value creation is the utilization of new digital business models. Depending on the circumstances, firms might offer a part of their products for free, change to a service-driven business model, or create a platform. However, digital transformation remains inherently risky and business model transformation is time-consuming and costly. Managers need to be aware of several pitfalls such as changing organizational structure, culture, and leadership. Moreover, in the process of change roles of employees change and some might even show resistance to digital transformation initiatives. In this book chapter, we discuss digital transformation, digital business models, and potential pitfalls and provide practical guidance for managers. This chapter enables managers with a broad overview of research on digital transformation but also accounts from practice. 

Donwload the book chapter here.