The Role of Digital Transformation in Modern Business Management: Opportunities and Challenges

Abstract

The current study engages with the topic of digital transformation and business management in the current digital age. As technology changes and adapts at a rapid pace, businesses in nearly all industries have to think about how they can and want to change. This article examines several opportunities and challenges presented to organizations due to their digital transformation inside their business. Based on current literature and descriptive methodology, it discusses opportunities organizations should take advantage of as they implement digital tools in their business for increased efficiencies, improvements to customer data, engagement and satisfaction, and development of innovations. Furthermore, the article highlights some challenges that organizations face in digital transformation such as knowing where to start, embracing change, maintaining a strategy shift, risks of cyber security, and user training with regard to the digital skill gap. The conversations presented in the article about the challenges or points of consideration, will have implications for managers and other stakeholders. Lastly, the article provides suggestions and recommendations that organizations may consider implementing as they start integrating digital into their organizations.