Digital transformation as a business development strategy

Abstract

Purpose This study investigates the strategic dimensions of digital transformation in business, focusing on the development and implementation of a digital strategy. It explores the evolution of digital services, highlights key steps in digital transformation, and introduces the Hoshin Kanri model as a tool for structuring digital transformation strategies. The aim is to equip organizations with frameworks to enhance competitiveness and adapt to technological advancements. Design/methodology/approach The study employs bibliometric analysis using Scopus and VOSviewer to examine global research trends in digital transformation strategy. The Hoshin Kanri methodology is adapted to design a strategic framework for digital business transformation. A combination of systemic, synergistic, and critical evaluative approaches underpins the analysis, alongside a review of literature spanning business management, digital ecosystems, and strategic planning. Findings Key findings include the identification of five steps in digital transformation strategy development, ranging from vision formation to digital acceleration. The Hoshin Kanri model is presented as a novel adaptation for digital strategy, integrating technology, human resources, customer orientation, processes, and financial planning. The analysis underscores the role of integrated approaches in mitigating risks and enhancing the efficacy of digital transformations. Originality/value This study is the first to adapt the Hoshin Kanri model specifically for digital business transformation. It provides a comprehensive strategy roadmap that aligns digital transformation with corporate objectives, organizational culture, and stakeholder needs, offering practical insights for businesses navigating the Web 4.0 era.

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