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Re-Shaping Business Strategy in the Era of Digitization

Re-Shaping Business Strategy in the Era of Digitization

Deniz Palalar Alkan
Copyright: © 2020 |Pages: 22
ISBN13: 9781799811251|ISBN10: 1799811255|EISBN13: 9781799811275
DOI: 10.4018/978-1-7998-1125-1.ch004
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MLA

Alkan, Deniz Palalar. "Re-Shaping Business Strategy in the Era of Digitization." Handbook of Research on Strategic Fit and Design in Business Ecosystems, edited by Umit Hacioglu, IGI Global, 2020, pp. 76-97. https://doi.org/10.4018/978-1-7998-1125-1.ch004

APA

Alkan, D. P. (2020). Re-Shaping Business Strategy in the Era of Digitization. In U. Hacioglu (Ed.), Handbook of Research on Strategic Fit and Design in Business Ecosystems (pp. 76-97). IGI Global. https://doi.org/10.4018/978-1-7998-1125-1.ch004

Chicago

Alkan, Deniz Palalar. "Re-Shaping Business Strategy in the Era of Digitization." In Handbook of Research on Strategic Fit and Design in Business Ecosystems, edited by Umit Hacioglu, 76-97. Hershey, PA: IGI Global, 2020. https://doi.org/10.4018/978-1-7998-1125-1.ch004

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Abstract

In the era of digitization terms such artificial intelligence (AI), internet of things (IoT) and related concepts are frequently used to describe a phenomenon that will eventually connect all things to digital networks that will lead to digital transformation of existing business and how they formulate strategies. One of the reasons behind such a paradigm shift is due to the demands of hyper-competition companies face in the global marketplace. Changing nature of the competitive landscape forces companies to re-think their strategy and align existing structures to achieve agility, flexibility, and a sustainable competitive advantage. Thus, companies need to re-think and conceptualize their overall strategies including the means to achieve sustainable competitive advantage. The trends that are shaping the Industry 4.0 will shape the way companies formulate strategies, create collaboration, and convergence of all the actors in the ecosystem to achieve agility, flexibility, and maximize efficiency.

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