A market management approach to transformative business operations

Abstract

How are new-age technologies transforming business operations? Why does it matter? The article suggests that a market management approach is conducive to understanding how new-age technologies can transform business operations. In this regard, the article defines market management approach as a holistic framework for managing transformative business operations that emphasizes the integration of emerging technologies with an organization’s operational processes. In this regard, the concept of transformative business operations is introduced and defined as the transformation of organizational systems, resources, and processes using new-age technologies to improve business functions that can generate superior value offerings to all stakeholders . The proposed transformative business operations approach identifies three triggers—the tension of uncertainty, adaptive capabilities, and operational elasticity—that drive the unique and synergistic impacts of these technologies. These triggers result in transformative changes through (a) foundational shifts in organizations, (b) strategy design, execution, and optimization, (c) unified ecosystem creation, and (d) pioneering business operations solutions. The actual transformation is observed in hyper-automation, augmented decision-making, and decentralized supply chains . The article also highlights barriers to adopting these technologies - cultural and workforce adjustments, data security and privacy concerns, and interoperability issues -, which moderate their potential impact, and guide organizations navigating these challenges. Finally, it outlines a market management agenda for exploring the implications of these developments.

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