Digital Transformation: Examining the Role of Digital Technologies in Transforming Traditional Business Models and Exploring the Benefits and Challenges of Digital Transformation.

Abstract

Digital transformation has become an increasingly important topic in the realm of business management. This paper seeks to examine the role of digital technologies in transforming traditional business models, and to explore the benefits and challenges associated with this transformation. By conducting a thorough review of the relevant literature, the paper will identify key drivers of digital transformation, as well as common strategies and approaches for implementing digital technologies in a business context. Additionally, the paper will explore the potential benefits of digital transformation, such as increased efficiency, improved customer experience, and enhanced competitive advantage, as well as the challenges that can arise during the transformation process, such as resistance to change and the need for new skill sets. Ultimately, the paper aims to provide insights into how businesses can effectively navigate the digital transformation journey and realize the full potential of digital technologies.