Change, Transformation and Strategy
We talked about change and transformation in our previous article. So what are they? Digitalization, change, transformation, strategies… What is the role of strategic management in digitalization?
Strategic management plays an important role in change management, especially in the digital age. Digital transformation affects companies in every sense. The emerging competitive environment forces a strategic plan. Technological developments require the need of information technologies. It reveals new business models and business processes. It pushes companies to new structures, new ideas, in short, innovation.
In such an environment, change management has become more important than ever. So How Does Strategy Drive Change in the Digital World?
Digital transformation, one of the biggest trends in today's economy, defines technological change initiatives. We've seen some of the drivers of digital change before, such as competitive pressure and market opportunity. For these reasons, it is very important for companies to recognize the critical importance of the best way to manage digital change.
Companies must make digital transformation a strategic priority, then devote time, resources, and effort to this strategic imperative. So what is the solution?
Today, all changes are digital, so companies can no longer afford to wait for the economy to settle. The only difference that will occur in this process is that the rate of change is only accelerating. To survive, organizations must adapt. They must adapt their strategies, modernize their change management functions, and adopt digital business practices. Those who do will have a better chance of developing in the years to come.