Theoretical and Empirical

Development in
Management and IT

Dr. Vijay Prakash Gupta

Assistant Professor,
I.T.S. Mohan Nagar,
Ghaziabad, Uttar
Pradesh

Dr. Deepak Bansal

Associate Professor,
IILM Academy of Higher
Learning, Greater Noida Campus,
Uttar Pradesh

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 PREFACE
This edited book has been outcome of the essence of six month long hard work
for preparing contents and collecting research papers/chapters from various
experts of Management & I.T. fields, eminent academicians and professionals
from pan India. From this book we have learnt various scientific principles of
management & IT, management functions as well as various empirical and
theoretical concepts developed by esteemed academicians from various
institutes of India and this constitutes managerial quality, leadership and
innovative IT trends as propounded by management experts and Industry
peoples.

The purpose of studying various schools of management & IT thought is to

enable you to recognize and appreciate how developments in the field of
management & IT could contribute to current practices. An examination of
these past and present approaches can help to discover the strengths and
weaknesses of current managerial practices and finally enable you, as a
potential manager of an information centre, to choose appropriate management
styles and skills. This book is also beneficial for industry to do the SWOT
Analysis in their business decision making. The structure of this book is
divided in the form of twenty chapters, authors of the different chapters are the
paper contributors and their names have been put against the title of the
chapters. The formations of chapter are based on the papers contributed by
them for this book. We are also thankful to all authors who have sacrificed
their precious time to contribute their valuable researches and articles for this
edited book. We are also thankful to Dr. Bhawna Agarwal, Associate Professor,
Amity College of Commerce & Finance, Noida, Dr. Shallu Sehgal, Assistant
Professor, Shoolini Institute of Life Science and Business Management, Solan,
Himanchal Pradesh and other eminent professors for motivating us. This edited
book is dedicated to Almighty and our parents for their inspirations, support
and necessary guidance in originating this work.

Chief Editors
Dr. Deepak Bansal
Dr. Vijay Prakash Gupta
Associate Professor, IILM
Assistant Professor, I.T.S.
Academy of Higher
Mohan Nagar Ghaziabad U.P.
Education Greater Noida U.P.
 Theoretical and Empirical
Development in Management
and IT
Content

Sr. Chapter Author Page.

1 Paradigm Shift from Prof. O.P. Yadav 1-20
Ancient to New in Customer & Akash Kumar
Relationship Management Srivastava
2 Digital Marketing: Growth Dr.Manisha Gupta 21-29
and Executions for Business & Mr. Arshit Raj
and Small ventures Gupta
3 Green Marketing: Prospects Dr. Savita Mohan, 30-39
for National Development & Prof. Pankaj
Economic Growth Kumar &
Prof. Alok Mohan
4 Impact of Digitalization on Dr. 40-49
the Indian Economy and VijeyataTegwal
Requirement of Financial & Mr. Sunil
Literacy Tegwal
5 A Study of the Impact of Prof. Vikas Neh, 50-63
Non-Performing Assets Prof. Khusboo
(Npa) On the Banking of Srivastava & Prof.
Select Indian Public Sector Deepshikha
Banks Sharma
6 Drip Marketing Dr.Vijay Prakash 64-73
(A Powerful Marketing Gupta
Opportunity for Nurturing
Customers)
7 Work Life in Indian Mala Sharma 74-81
Philosophy
8 HR Strategies for Retention Dr. Pushpa 82-91
of Manpower and Kataria
Enhancing Quality of Health
Services
9 Marketing Budget – Critical Ms. Padmini 92-97
For Businesss Success Shukla
10 Literacy of Financial system Dr. Anshul 98-104
among youths in India Sharma & Ms.
Divya Tyagi
11 Cybersecurity for Mobile Pooja Jha 105-116
Financial Services: An
Enigma for Low-Income
Households
12 Customer’s Perception Dr. Satinder 117-132
towards Facebook Kumar & Dr.
Marketing: an Empirical Shallu Sehgal
Analysis
13 Digital Transformation: Madhu Bala 133-152
Review of Concept, Digital
Framework, and Challenges
14 The Emerging Scenario of Nidhi khanna 153-165
Financial Inclusion and
Credit Delivery in Indian
Economy
15 Impact of Celebrity Priyanka Chaddha 166-178
Endorsement on Consumers & Dr. Bhawna
Purchase Intention: A Agarwal
Literature Review
16 Entrepreneurial Success Rohit Sood 179-185
story through Street
Vending (A case study of a
vendor in Ludhiana, Punjab)
17 Customer Relationship Shweta Rathod 186-202
Management (CRM): A
Technology Driven Tool
and Its Impact
18 A Conceptual Framework of Taanika Arora & 203-212
Predictors and Outcomes for Dr Bhawna
Evaluating the Effectiveness Agarwal
of Social Media
Advertisements
19 The Relationship between Nishtha Bhushan 213-224
Point-of- Sales Promotion & Dr. Bhawna
Techniques and Buying Agarwal
Behavior of Customers: A
Literature Review
20 Impact of Microfinance in Miss Manisha 225-237
the Growth of Rural India Nama, Dr.
Chandan
Medatwal & Dr.
Deepak Bansal
 Digital Transformation: Review of
Concept, Digital Framework, and
Challenges
Madhu Bala
Assistant Professor, Department of Commerce,
DAV College for Girls, Yamuna Nagar, Haryana
Abstract
India is undergoing through a phase of digital transformation. The digital
transformation can be seen in India almost in many areas like in government
policies, business activities, governance, education etc. The digital businesses
are focused on integrating digital technologies, such as mobile, social,
analytics, big data, cloud, Internet of things, Industry 4.0 etc. Challenge to
digital transformation is that risk taking is becoming a cultural norm as more
digitally advanced companies seek new levels of competitive advantage. The
companies, where digital technologies are critical parts of the infrastructure,
will soon be profitable on average, had higher revenues, and achieved a bigger
market valuation than competitors. With emerging digital technologies,
however, there are significant challenges & issues associated with cloud,
mobile, social, and big data initiatives. The survey suggests that the primary
risks preventing their wider adoption are data security issues, lack of
interoperability with existing IT systems, and lack of control etc. The purpose
of this chapter is to review critically initiatives, issues and challenges in digital
transformation of a business in India.
Key Words: Digitalization, Digital Transformation, Business, Digital
Business, Digitalization Challenges, Digitalization Issues and Digitalization
Initiatives,
Introduction
Digitalization is becoming increasingly pervasive and is one of the hottest
research topics because it is bringing a great deal of change to society,
economy and industry. Earlier digitalization in business implications was just
about increasing efficiency. Instead, the ripple effect of digital development can
now be felt wider and deeper than ever before because digital systems are
enabling companies to work faster and smarter and to build new business
models to drive up multiple benefits.

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The way in which business is conducted and how it creates value, as well as
how corporations can become more efficient and sustainable, are all
implications of digitalization. It enables innovation practices, improved
designs, and new business models, and shapes how organizations create value
on the Internet [G. Gudergan and P.Mugge, 2017]. Adapting to new demands
and change, however, is not always easy. Digital transformation is not solely
about acquiring and deploying the fit for purpose technologies; rather it is a
significant approach in tackling managerial issues such as human resources,
business efficiency, and business process redesign [L. Li, F. Su, W. Zhang and
J. Ye Mao, 2017]. The economic, societal, and business implications of
digitalization are contested and raise serious questions about the wider impact
of digital transformation.
Digitalization affects all private and public operations, as well as the internal
and external workings of any operation. Digitalization is the major driving
force behind sweeping largescale transformations in a multitude of industries.
While many companies are experimenting with digital transformation, recent
studies of success stories have shown that the enhanced competitive positioning
of successful firms does not depend solely on the technologies they adopt, but,
more importantly, builds on the strategies that their leaders deploy. While it is
clear that digital technology will transform most industries, there are a number
of challenges that need to be understood. These include factors such as the pace
of changing customer expectations, cultural transformation, outdated
regulation, and identifying and accessing the right skills – to name just a few.
These challenges need to be addressed by industry and government leaders to
unlock the substantial benefits digital offers society and industry.
Nonetheless, there is still a wide gap between executives‘ intentions and the
realization of successful digital transformation initiatives and the consequent
need to demonstrate the embedded strategic considerations including
opportunities, issues and challenges.Therefore the present chapter seeks to
understand:-
• Concept of Digital Transformation and its business models
• Issues and Challenges with Digital Transformation
Therefore this study offers a unique insight into concept of digital
transformation, as well as reports on key industrial and technologicalchallenges
and issues related to digital transformation.
2. Methods of Review

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This study is exploratory in nature and includes both quantitative and
qualitative analysis.
For purpose of this study, the secondary data &information have extensively
been analyzed for review.
The secondary data &information have been collected from mainly four
sources; Academia Research Articles: The articles related to Digital
transformation, working papers, white papers, conference papers etc.; Books: -
The various books like E-business and E-commerce Management - Strategy,
Implementation and Practice, European Retail Research 2010 and 2012,
Retailing in the 21st Century: Current and Future Trends, various published e-
books etc.; Studies of Consultancies & Market Research Agencies: - like
Accenture, Aruba, Bain, BCG, Capgemini, Ebeltoft Group, eMarketer, Epsilon,
IBM, IDC, McKinsey, NCR, Nielsen etc.; News Agencies, Contributors &
Bloggers :- like American Banker, Business Insider, Forbes, Harvard Business
Review, New York Times, Reuters, The Economist Intelligence Unit, Wall
Street Journal different scholars and researchers, published e-books, articles
published in different journals, periodicals, conference papers, working paper.
3. Results
3 Concepts of Digital Transformation and Digital Framework
Over the last decades, the world has changed fundamentally [Bhardawaj et al.
2013; Uhl et al. 2016]. Speed is the new currency of business [Marc Benioff,
Chairman and CEO, Salesforce]. We‘re all witnessing this fundamental
changes and speed through digital transformation in our lives.
From cars like Tesla that enable API-driven management and monitoring, to
our homes, where companies like Nest track our energy usage and use it to
provide energy saving tips to consumers.
And at work, biometric tracking from wearables, like a heart print and finger
print, is transforming security at the workplace. Banks are transforming the
banking experience with the ability to check deposits from a smartphone, and
are launching automated smart branches.
There is currently no commonly accepted definition for the term digital
transformation (DT). Moreover, the terms digitalization and the digitization are
often used interchangeably (BDI and Roland Berger, 2015). Our literature
review shows following selected definitions (see Table-1) in the context of
Digital Transformation.

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 Table-1

The assertions emphasize the drastic nature of the transformation that is

underway and present its three radical aspects in the areas - the change in the
time dimension (the Internet removes time barriers); the change in the spatial
dimension (the unprecedented ubiquity provided by mobile technologies) and
access to the masses (the Internet removes audience restrictions).
Companies are driven to rethink their processes and the way they interact with
stakeholders due to pressure from new entrants, the need to adapt to new
consumer behaviors, or the goal of making the most of technological tools in
the areas of innovation and productivity. MIT Center for Digital Business and
Capgemini Consulting Team members conducted a study and found that
Executives are digitally transforming three key areas of their enterprises:
customer experience, operational processes and business models (see Fig.1).

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 Fig. 1: Building blocks of the digital transformation
(Source: MIT Sloan and Capgemini Consulting Study)
Within each of the three pillars, different elements are changing. These nine
elements form a set of building blocks for digital transformation. Currently, no
company in our sample has fully transformed all nine elements. Rather,
executives are selecting among these building blocks to move forward in the
manner that they believe is right for their organizations.
The tenth element– digital capabilities is an essential enabler for
transformations in all areas. The speed and magnitude of this ongoing
transformation, driven by the most recent wave of ICT (Information and
Communication Technology), has caused certain authors to begin using the
term “acceluction” [Bounfour, 2016]. This neologism highlights both the
massive expansion in value creation by companies, and the digital acceleration
that leads to instantaneous exchanges within society and the within the
company. We believe these two aspects accurately represent the digital
transformation that is underway. Econsultancy has developed a framework
which provides a roadmap to digital excellence which is depicted in Fig.2.
Efforts are required
137
in each areas parallel; Process, People, Technology and strategy for three stages
of emergent, managed and optimized.

Fig. 2: Digital Maturity Framework – A roadmap to digital excellence.

(Source: Econsultancy)
Companies are driven to rethink their processes and the way they interact with
stakeholders due to pressure from new entrants, the need to adapt to new
consumer behaviors, or the goal of making the most of technological tools in
the areas of innovation and productivity. All actors agree that digital
transformation shifts value creation within sectors, whether it be the industrial
or service sectors, for companies working with industrial customers or with the
general public. The concept of the business model, which struggled to find its
place in the academic world in the late 1990s, has become one of the most
widely studied concepts in management literature. At the same time, digital
transformation redesigns the role of humans in companies. All automatable
tasks are in the process of becoming automated, from the robotization of the
operations of automobile production lines to the automation of the tasks carried
out by office employees and cashiers. Robotization also enables build-to-order
production and the possibilities of customizing products and services.The
process of digital transformation currently sweeping through the world‘s
advanced economies heralds the fourth industrial revolution in the form of
Industry 4.0. The Industry 4.0 is hence often considered as a strategy of re-
industrialization [Smit et al., 2016; Schuh et al., 2014; Roblek et al., 2016]. It
138
announcesa business transformation that reshapes conventional manufacturing
by enabling the fusion of digital technologies with conventional manufacturing
[Herman et al., 2015; Manyika et al., 2016, Owerczuk et al., 2016]. The process
encompasses a series of rapid transformations implying a quantum leap in
production methods thanks to Cyber -Physical Systems (CPS), the Internet of
Things (IoT), the Internet of Services , and the Smart Factory approach
[Hermann et al ., 2015]. Rüßmann [et al., 2015] points to nine technology
advances that are the back-bone of Industry 4.0. These are:-
• Big Data and Analytics
• Autonomous Robots
• Simulation
• Horizontal and Vertical System Integration
• Industrial Internet of Things (IoT) and Internet of Services
• Cybersecurity
• Cloud
• Additive Manufacturing 3D
• Augmented Reality
The other some of technology advances supporting the digitization are:-
• Machine to machine communication (MMC or M2M)
• Blockchain
• Cryptocurrencies
• Artificial Intelligence (AI)
AI, Big data, Analytics and their integrations play a fundamental role in digital
transformation.
The underpinning technologies of the digital transformation are thus multiple
and diversified.These include [Heng, 2014; Hermann et al., 2015]:-
• Advanced application of CPS
• Networks and other forms of communications that link machines,
humans, and systems
• Simulations enabling modelling and virtualization as well as big data
• Cloud computing, and augmented reality
The Industrial Internet, or integrated industry, implies agility, changeability,
virtualization and re-configurability of manufacturing. Considering all these
features, Zheng, Wu [2017] highlights the four main characteristics of Industry
4.0, which consists of ―vertical networking of smart production systems,

139
horizontal integration via a new generation of global value chain networks,
through engineering across the entire value chain, and acceleration through
exponential technologiesǁ. The digital transformation can also be understood
with a model as suggested by R. Berger [2015], as shown in Fig.3. Essentially,
the digital transformation takes effect via four levers that are supported by new
enablers and propositions.
Digital Data: - Capturing, processing and analyzing digital data allows better
predictions and decisions to be made. Automation: - Combining traditional
technologies with artificial intelligence is increasingly giving rise to systems
that work autonomously and organize themselves. This reduces error rates,
adds speed and cuts operating costs. Connectivity: - Interconnecting the entire
value chain via mobile or fixed-line high-bandwidth telecom networks
synchronizes supply chains and shortens both production lead times and
innovation cycles.Digital Customer Access: - The (mobile) internet gives new
intermediaries direct access to customers to whom they can offer full
transparency and new kinds of services.

ITU [2017] also provided a cyclic platformupgrading in the new digital

economy as shown in Fig. 4. This cyclic platform also indicates a series of

140
conditions to be placed in a business model in sequential to approach a digital
transformation.
A another roadmap is given here based on the presented approaches to DT and
based on existing theories about business model innovation (see Bucherer,
2011; Rusnjak, 2014; Schallmo, 2013, 2014; Thomas, 2014), According to D.
Schallmo, C. A. Williams & L. Boardman (2017), the Roadmap for the DT of
business models is explained as follows:-
Digital Reality: In this phase, Digital Reality, the company‘s existing business
model is sketched along with a value-added analysis related to stakeholders and
a survey of customer requirements. This provides an understanding of the
Digital Reality for this company in different areas.
Digital Ambition: Based on the Digital Reality, objectives with regards to DT
are defined. These objectives relate to time, finances, space, and quality.
Digital Ambition postulates which objectives should be considered for the
business model and its elements. Subsequently, objectives and business model
dimensions are prioritized.
Digital Potential: Within this Digital Potential phase, best practices and
enablers for the DT are established.
This serves as a starting point in terms of Digital Potential and the design of a
future digital business model. For this purpose, different options are derived for
each business model element and combined logically.
Digital Fit: The Digital Fit phase looks at options for the design of the digital
business model, which are evaluated to determine Digital Fit with the existing
business model. This ensures that one fulfils customer requirements and that
business objective are achieved. The evaluated combinations are then
prioritized.
Digital Implementation: Digital Implementation includes the finalisation and
implementation of the digital business model.
The various combinations of options are further pursued within a digital
implementation framework. The Digital Implementation also includes the
design of a digital customer experience and digital value-creation network that
describe integration with partners. In addition, resources and capabilities are
also identified in this phase.

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Fig.5 represents the Roadmap to the DT of business models with the various
phases and activities.
Enablers serve to allow applications or services to be used for the DT of the
business model. Four categories for enablers and applications/services are
detailed below: -
Digital Data: The collection, processing, and analysis of digitized data to
facilitate and improve predictions and decisions..
Automation: The combination of classical artificial intelligence technologies
that enables autonomous work and self-organizing systems. This reduces error
rates, increases speed, and makes it possible to reduce operating costs.
Digital Customer Access: The mobile internet enables direct access to the
client, who are thus provided with high levels of transparency and new
services.
Networking: Mobile or wired networking of the entire value-added chain via
high speed broadband telecommunications allows for the synchronization of
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supply chains, which leads to a reduction in production times and innovation
cycles.
Enablers are listed with their applications/services in digital radar, which is
shown in Fig. 6.

Fig. 6: Digital radar with enablers and applications (Source: Boueé and
Schaible, 2015).
3.2 Challenges with Digital Transformation
The digital transformation of industry is creating tremendous opportunities and
confronting it with huge challenges. The possibilities opened up by connected,
more efficient production and new business models are highly promising, yet
the risks are equally dramatic. They will open new ways for companies to
integrate their customers´ needs and preferences into their development and
production processes, help them to enhance quality and avoid faults in their
production processes and create transparency and flexibility across entire
process chains. Digital transformation provides industry with unparalleled
opportunities for value creation from expanding profit pools, creating new
revenue models and enabling unprecedented access to global markets. The
long-term challenge facing companies is how to remain relevant to digital
customers, and that is the point of digital transformation. In the end it‘s about
building deeper engagement with customers and owning a greater share of their
digital wallet. Those objectives may be accomplished by creating new business
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models (see: Uber or Airbnb,) or new revenue streams (see: Netflix). Digital
enterprises are companies that have thoroughly embraced information
technology and use this technology to engage customers in new and innovative
ways. These companies are taking share of wallet from traditional retailers and
other consumer-oriented businesses. Think Uber, Airbnb, Amazon, Netflix,
Kayak, Google, Zillow, or Zappos. It‘s probably safe to say that there are not
many true digital enterprises that weren‘t born as digital enterprises. There are
certainly industrial companies born before 1980 that are in the process of
transforming themselves, but few if any have completely crossed that chasm.
Becoming a digital enterprise requires a thorough reimagining of the business
through a digital lens – both in the workplace and in customer engagement. As
companies undergo the evolution from analog processes (often physical or
paperbased) to 100% digital processes, they position themselves to be more
competitive, agile, and innovative. Some of the major challenges in
implementation of digital transformations are discussed below:-
1. Outdated Legacy System
The very first challenge for companies towards digital transformation is to
come out of old/previous legacy system. The task force is a company feels to
work comfortably with existing legacy system. There remains a fear of
difficulty or failure in minds of task force to work on new digital system.
2. Data Challenges
• Filtration of Data:- With explosion of the big data, the major challenge
is ensure the integrity and quality of data flowing in its information
systems. One challenge for firms is to filter out valuable data from a huge
set of information for actionable intelligence. Smart use of big data
improves firm performance. Being smart while managing big data calls
for a new culture of decision making in companies –decisions have to be
data driven and not, to a great extent, experience or intuitiondriven
[McAfee, Brynjolfsson, 2012: 65].
• Data Sharing:- The information that should be shared freely across
departments remains trapped in their respective systems. The
organizational silos are one of the primary obstacles to effective data-
driven decision making.
• Data Management:- Experts predict that there will be 50 billion
connected devices by the year 2020 (Dave Evans, 2011) all generating
huge amounts of data. Yesterday‘s data center is not going to be able to
keep up. The Internet of Things, big data analytics, and machine learning
are driving an annual increase of 30 to 40 percent in compute power and

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 data storage capacity.2 Traditional procurement, provisioning, and
management methods are inadequate for today‘s hyper scale data center.
Information Technology teams need a digital transformation solution that
meets the capacity demand, reduces cost, and simplifies data center
management.
• Data Security:- Data Security is the most severe challenge and the
largest difficulty for usage of digital technology -
• protecting data
• protecting against digital attack
• protecting critical infrastructure
• protecting privacy
3. Lack of Change Management / Organizational Change Culture
Lack of adoption of change managementis still consistently identified as a
primary obstacle to digital transformation - despite the fact that there are
proven benefits of implementing change management programs. There is great
resistance to change in organizations that struggle with outdated legacy
systems. Getting all of the various departments within an organization to agree
on a common course of action can be a challenge, and that challenge is
frequently exacerbated by the difficulty of data and systems that are
incompatible across departments. There is a need for steady and visionary
leadership in times of transformation. Leaders also need to be, or rapidly
become, digitally-savvy. In the Center for Creative Leadership‘s experience,
the key to unlocking greater digital impact is not just a question of
‗implementation‘ or ‗adoption‘. Leaders and IT teams need to partner to drive
innovation. Too often current models of leadership are still bound within
traditional linear and hierarchical organization models, which kill off
innovation and digital transformation.
4. Less engagement of Top Management
Most often, digital is lacking in Leadership. Without the support of top
leadership, it shouldn‘t come as any surprise that most of the digital
transformation projects that have been implemented have failed to achieve the
desired results. A McKinsey surveyfound that 70% of change programs fail to
meet objectives, largely due to employee resistance and lack of support from
management. In other words, digital transformation initiatives most commonly
start in the middle, and organizations do not succeed in getting employee
involvement because they do not have executive involvement. Even when
companies do have some executive involvement, that involvement is almost
always constrained - with little to no engagement from the rest of executive

145
leadership (Altimeter). This lack of involvement becomes even more
pronounced when companies try to move from the development of digital
initiatives to implementation; dedicated cross-functional teams are active at the
development stage of transformation initiatives 51% of the time, but are only
active 29% of the time during implementation (Altimeter).
5. Risk and unwillingness
Business leaders and highly placed executives will often speak at length about
the necessity of innovation in a highly competitive marketplace, but often their
actions will speak to a deeply rooted resistance to organizational learning and
innovation. There is a fundamental disconnect between what business leaders
say they value and the values they exhibit through their actions. The truth is
that most organizational leaders will tell you that learning comes from failure,
while their organization is structured to punish failure for any reason; therefore
they do not want to take risk to change.
6. Lack of tained workforce
For a successful digital transformation, it is mandatory to have trained
manpower; efficient in working on digital platform. There is a need for both
digital training and business training. Such training is needed in both entry
level and more senior parts of the industry. At the same time, leaders must
develop an acceptable level of trust in their employees and other managers who
have specific knowledge regarding this type of change so that creativity and
innovation can thrive in this setting. It is imperative that organizations have
workforce who can adapt to change effectively, can support adiverse
organizational culture, and have the patience and where withal to withstand
disruptions and other challenges during the implementation phase.
7. Financing
Additional capital is needed to finance investments in training, digital tools,
innovation and experimentation. A separate budget must be allocated to digital
transformation activities and others.
viii) Right selection of technology which is Flexibility and Agility
The reduced time to market requires software systems to be flexible enough to
consider new requirements afterwards. Furthermore, the high competitive
pressure requires replacing originally planned features by other ones. Thus
development process has to be agile to react on changing requirements.
Wherever useful, software developers and companies have to avoid waterfall

146
development models and work in an agile way to be flexible enough to
consider new and just needed functionality.
8. Weak Infrastructure
Modern infrastructure like buildings, hardware, networks, network speed etc.
retains a significant value for successful implementation of digital
transformation.
Apart from above discussion on challenges, there may be other challenges like
software related challenges, internet stronger connectivity, changes in
customer‘s habits / behavior due to frequent changes in new devices and
technologies used by customer like mobile devices, virtual reality glasses,
smart watches, intelligent in-ear headphones, and all the intelligent devices in a
smart home etc.
4. Findings
Digital transformation practices require an organization to prepare for
significant disruptions to their routine activities and processes, typically for a
period of months to years, and these practices involve large-scale migration
to data-driven technology-based systems, the acquisition of value for key
stakeholders and customers, and a design which can effectively streamline
processes, improve efficiency, and support sustainable activities to achieve
growth and stability (Dahlstrom, Desmet, & Singer, 2017). The following are
the findings:-
• The digital transformation of industry is also driving a radical structural
transition in economies. New data, connectivity, automation and the
digital customer interface are challenging existing value chains.
Companies must take a long, hard look at their products and skill sets.
And they have to improve their digital maturity if they are to recognize
new opportunities, develop suitable offerings and get them to market
quickly.
• It is found that data, information, technology and a strategic digital
business model are the four fundamental requirements to drive the digital
transformation. The digital transformation of industry demands concerted
action. The regulatory framework must be harmonized, with a new
weighting given to relevant issues. At the same time, a powerful, no-gaps
information and communications infrastructure is needed if industry is to
remain competitive.

147
 • Digital is better, stronger and faster. Therefore every company has a very
good chance of benefiting from the digital transformation provided they
are able to manage this digital transformation. To do so, however, they
must put a plan of activities in place and keep the tempo up for this
change. This finding is supported by Dahlstrom et al. (2017), where
authors also emphasized on the following elements towards digitization
transformation:-
1. Identification of the future direction of the business;
2. Identification of leaders to direct the transformation;
3. Convincing key stakeholders that the transformation is a good idea;
4. Determining how the organization can be in a competitive position
within the digital era; Determining how decisions should be made
during the transformation; obtaining funding to accomplish the
goals of the transformation;
5. Identifying areas where the organization can succeed with this effort
and accomplish its goals effectively.
Three steps framework, to get companies in shape for the digital future, is
worked out in Fig.7.

Fig. 7: Three Steps Framework towards Digitization

[Source: Reframed from R. Berger, 2015]

148
There must be digital culture in company means talk digitally, work digitally,
and think digitally. Company must have a strategy for achieving digital
transformation and top management must drive it to bottom of the level. People
at the front level must take this change as an opportunity to adapt any
challenges. Core team of digital transformation should foster a digital culture
and pay more attention to the incremental and disruptive possibilities opened
up by digital developments. This finding is also supported by Kasemsap
[2015],where he emphasized that cultural dynamics play a critical role in the
success of a digital transformation and provide a framework for change;
therefore, change management strategies must be aligned with these priorities
and the practices currently taking place and those which will be
desirable in the future. A digital transformation requires significant human,
financial, and technological capital, all of which must be aligned to facilitate
successful results and must employ leaders who are capable of directing this
change and allow their knowledge and experience to influence the process
(Dahlstrom et al., 2017).
Owing to the Internet, digital transformations range from consumer behavior to
new business models. Like never before, all stakeholders in a business can
participate in the creation of new value in business, innovations in products &
services, exchanges of knowledge, technology, experiences and social
interaction on the global level. The Internet has now become anessential part of
everyday life and has given birth to a new generation having different
expectations than the previous one. The new development of the Internet has
enabled interactivity and participation. It is now the ―Internet of everythingǁ
which enables companies to radically change their interaction with all
stakeholders.
Digital disruption is happening everywhere – and changing everything. It‘s
driving new business models, new ways of working, and new ways of
collaborating and communicating. Technology innovations like machine
learning, artificial intelligence, and the Internet of Things (IoT) are turning our
hyperconnected world into a huge information system where business value no
longer lies in traditional assets, but in information about those assets. For
enterprises that are willing to think big, embrace change, move quickly, and
organize differently, there are countless opportunities to reap the rewards of the
digital economy.
Top leadership participation is necessary to driver digital transformation. But
more importantly, digital change must be managed and understood by all tiers
of the organization.

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Conclusion
We found from this in progress exploratory study that digital transformation
involved more or less profound changes in the business model of the company,
which may occur on processes, resources, operational methods or culture. This
is why the choice of how to initiate the digital transformation is long-term
structuring for the company. It represents a crucial strategic decision.
Digital transformation will lead to big digital revolution. Organizations which
undergo a digital transformation must have a digital framework before start, the
tools available to implement this large-scale change, including the technical
knowledge to ensure that its outcomes are successful. All the challenges, as
discussed must be placed in the digital framework for proactive roadmap for
their solutions.
The digital transformation of our life changes the way we work, learn,
communicate, and collaborate. Enterprises are presently transforming their
strategy, culture, processes, and their information systems to become digital.
The digital transformation deeply disrupts existing enterprises and economies.
Organizational leaders must demonstrate a critical understanding of this
process and be willing to embrace change, along with understanding that when
they align their leadership characteristics with the change management strategy.
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