STIMULATING BUSINESS THROUGH THE PRISM OF DIGITAL TRANSFORMATION

Univerzitet u Novom Sadu, Ekonomski fakultet u Subotici, Srbija
Serbia

Univerzitet u Novom Sadu, Ekonomski fakultet u Subotici, Srbija
Serbia


Abstract

The digital transformation of business is a trend that has been the focus of both researchers from academia and the economy in recent years. Companies are exposed to continuous pressures caused by various changes in the environment, such as stronger market competition, which further complicates the continuous development of new and innovation of existing technologies. In response, companies must constantly search for new solutions and approaches in the way they do business in order to take advantage of all business opportunities, increase speed in performing tasks and improve efficiency and effectiveness. Companies that are unable to keep up with everyday changes and adapt to them will at some point be completely pushed out of the market, and for them, survival itself will become a major issue. The digital era, that we are currently in, is characterized by the everyday story of digitalization and digital business transformation. Due to their complexity, continuance, required resources, expertise, and the lack of a generally accepted implementation plan, SMEs often struggle to start their digital transformation process. The aim of this paper is to point out the importance of digital business transformation and its impact on stimulating and improving business in companies

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References


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