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Digital Business Transformation Strategy Final Final

The document outlines a Digital Business Transformation Strategy emphasizing the necessity for businesses to adopt digital technologies to remain competitive and enhance operational efficiency. It discusses various digital business models, contemporary approaches like cloud computing and AI, and the importance of effective digital integration for improved customer experience and decision-making. The strategy aims to guide businesses, particularly Primark, in leveraging digital tools to optimize processes, reduce costs, and expand globally.
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0% found this document useful (0 votes)
11 views22 pages

Digital Business Transformation Strategy Final Final

The document outlines a Digital Business Transformation Strategy emphasizing the necessity for businesses to adopt digital technologies to remain competitive and enhance operational efficiency. It discusses various digital business models, contemporary approaches like cloud computing and AI, and the importance of effective digital integration for improved customer experience and decision-making. The strategy aims to guide businesses, particularly Primark, in leveraging digital tools to optimize processes, reduce costs, and expand globally.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Digital Business Transformation Strategy 1

DIGITAL BUSINESS TRANSFORMATION STRATEGY

by <Name>

Course

Professor

Institution of Learning

City/State

Date
Digital Business Transformation Strategy 2

Table of Contents

Introduction................................................................................................................................3

The Digital Business Environment............................................................................................3

Digital Business Models.................................................................................................6

Contemporary Approaches..............................................................................................8

Digital Technologies Usage to Achieve Business Objectives.................................................10

Digital Interaction....................................................................................................................14

B2C Interaction.............................................................................................................14

B2B Interaction.............................................................................................................14

Digital Technologies' Effectiveness on Business Objectives...................................................15

Conclusion................................................................................................................................16

Reference List..........................................................................................................................17
Digital Business Transformation Strategy 3

Introduction

Dynamics and convolutions associated with the globalized market have necessitated

digital transformation in multinational businesses. The situation means that businesses must

perform digital integration to remain competitive, profitable, and alive. The digitisation

process represents technological resource implementation in improving customer experience,

operations, business models, and competencies (Kraus et al., 2022). Successful digital

transformation allows businesses to enjoy benefits like improved collaboration, revenue

optimisation, improved operational efficiency, effective communication, enhanced consumer

experience, and improved productivity. Today, businesses can utilise diverse technologies in

automating organisational processes like distribution, production, marketing, and R&D.

Technological integration has also supported businesses in improving work processes through

enhanced intradepartmental and interdepartmental interactions (Plekhanov et al., 2022).

Nonetheless, digital transformation requires businesses to develop effective plans to avoid

failure related to incompatible and irrelevant systems adoption. Still, Primark can implement

evidence-based strategies to perform digital integration operations that meet modern business

standards.

The Digital Business Environment

The digital business environment refers to the business ecosystem developed through

the implementation of digital technologies The virtual environment enables businesses to

utilise different business technologies in improving their performance, resilience, and brand

visibility. The current technological development allows businesses to perform their diverse

operations within the digital environment (Luo et al., 2023). Technological resources that

support business operations within the digital environment are computer programs, cloud

computing platforms, servers, social media platforms, mobile applications, large-scale

analytics and digital-based devices like mobile devices and computers. The organisational
Digital Business Transformation Strategy 4

digital environment comprises elements like websites, CRM applications, web-based

applications, data servers, and accounting software programs (Kraus et al., 2022). The

technological resources support data sharing, marketing, and communication processes that

increase the efficiency of diverse business activities. Currently, successful businesses publish

comprehensive information on their websites to maintain working relationships with

stakeholders like customers, shareholders, and suppliers. Crucial details available on

corporate websites are corporate governance, company description, financial information,

stock options, and event plans.

Digital Businesses

Digital businesses utilise digital technologies in creating unique customer experiences

and improving operational efficiency. Businesses utilise diverse technologies in conducting

their diverse activities within the digital environment. The process involves integrating

different technological resources and capacities to drive business models, engage talent, and

transform processes (Markus & Soh, 2015). The concepts comprise traditional and digital-

only brands that utilise digital technologies in enhancing their operations. Various businesses

that have depended on digital transformation to improve their performance within their

specific industries are Uber, Netflix, and Amazon (Rogers et al., 2016). Uber uses a digital

platform that operates ride-sharing and delivery businesses with low capital assets. Netflix

utilises the digital business strategy of providing video streaming services to clients from

different locations globally. Amazon depends on the digital concept in providing different

services to clients, including digital streaming, digital marketing, video streaming, and e-

commerce. Markedly, these businesses depended on the digital transformation approach to

reduce the global expansion risk.


Digital Business Transformation Strategy 5

Digital Business (Digitize01, 2024)

Digital transformation refers to a foundation shift that supports businesses in

digitising their different operations. Important concepts guiding digital transformation in

modern businesses are quality optimisation, culture, scalability, and flexibility. The flexibility

concept revolves around the knowledge of constant changes in modern businesses. Market

dynamics imply that businesses must utilise digital technologies in adapting swiftly to

dynamics in consumer preferences and work processes. For instance, businesses utilised the

digital approach in supporting work-from-home and online selling initiatives during the peak

pandemic period (Verhoef et al., 2021). The scalability concept represents the need to deal

with constant fluctuation in workload in markets featuring constant demand fluctuations.

During these situations, digital technologies help businesses scale down or up to meet

specific market demands. Digital transformation also enables companies to perform

restricting procedures that support them in dealing with cultural shifts. Additionally,

digitising operations supports enables businesses to implement strategies for improving

product/service quality.

Digital businesses offer investors benefits like reduced operational costs, improved

decision-making, innovation, productivity enhancement, quality optimisation, and improved


Digital Business Transformation Strategy 6

governance. Digital platforms support businesses in developing innovative products to meet

specific consumer demands and needs (Plekhanov et al., 2022). Successful companies

capitalise on the consistency and innovation related to automation in offering high-quality

and differentiated products (Yucel, 2018; Chaffey, 2019). Automating production enables

businesses to increase output, cut operational costs and improve product quality (Westerman

& Bonnet, 2015). Businesses depend on the tactic of minimising huge risks, delays, and costs

associated with manual labour. Multinational companies apply advanced technologies in

facilitating governance and streamline operations in their different outlets (Palfreyman &

Morton, 2022). Digital transformation offers companies an opportunity to make informed

decisions through enhanced information analysis and transfer. Professionals in different

departments and outlets depend on the shared information in making informed decisions.

Digital Business Models

The digital transformation process requires companies to implement digital business

models that suit their systems, plans, and needs. The models define how businesses capture,

deliver, and create value in the digital business environment. Hence, these models can utilise

multiple digital technologies in offering services and products that suit clients’ needs. Popular

digital business models in the global market are the e-commerce model, freemium model,

free model, marketplace model, and digital ecosystem model (Chan, 2015). The free digital

model relies on ads from platforms like Facebook and Google in providing free services to

users. The cost-free service delivery tactic for this model helps in transforming users into end

products. The freemium model allows clients to access the basic version of a specific

production without incurring financial costs (Georgieva et al., 2015). In this model,

companies fix specific prices for the premium version of a specific product, which enables

clients to access additional features (Gebauer et al., 2020). The on-demand model represents
Digital Business Transformation Strategy 7

virtual services like Apple TV and Amazon Prime Video where users pay based on product

size and duration.

Digital Business Models (SlideSalad, 2024)

The e-commerce model enables businesses and individuals to sell products online

through e-commerce websites like Amazon. Business organisations like Primark can establish

e-commerce websites to sell products online, which prevents their dependence on physical

stores (Chaffey, 2019). Most businesses realised that creating these platforms can support

their profit optimisation agenda by attracting online shoppers. Unlike the e-commerce model,

the marketplace model allows buyers and sellers to apply third-party platforms in trading

services and goods (Balaraman & Kosalram, 2012). The design means that businesses can

generate income by regulating and facilitating interaction between sellers and buyers in the

market. Popular businesses that utilise the model in serving clients are product-based Etsy,

product-based eBay, and service-based Uber. Finally, the digital ecosystems model creates a

vendor lock-in effect that enables businesses to exploit clients across multiple platforms

(Gebauer et al., 2020). In this model, adequate information about clients allows ecosystem
Digital Business Transformation Strategy 8

drivers like Tesla, Google, Apple, Amazon, and Alibaba to sell products across digital

ecosystems.

Contemporary Approaches

The digital transformation process requires businesses to comprehend contemporary

approaches related to the digitisation process. Notably, contemporary approaches in the

digital business environment are cloud computing, IoT (Internet of Things), teleconferencing,

cybersecurity, remote work, and artificial intelligence (Aceto et al., 2020). For instance,

companies have embraced cloud computing operations in managing, analysing, and sharing

data (Bocij et al., 2018). Cloud computing refers to a model that facilitates network access to

various computing resources, including services, servers, applications, storage, and networks.

Essential features of the current cloud computing model are measured service, broad network

access, rapid elasticity, on-demand self-service, and resource pooling (Aithal, 2023).

Businesses can utilise deployment models like hybrid cloud, public cloud, community cloud,

and private cloud in supporting their cloud computing operations. Important technologies that

facilitate cloud computing operations are high-performance virtualisation, server computers,

and fast wide-area networks. Current improvement strategies on cloud computing platforms

have focused on addressing security issues to enhance users’ safety.

Artificial intelligence (AI) and teleconferencing tools have gained popularity in

business organisations globally. Investment in AI tools has helped in improving business

processes while reducing operating costs for businesses (Wodecki, 2018). Today, current

studies showcase numerous use cases of this technology in reducing workforce size while

streamlining tasks in companies (Verma et al., 2023; Tegmark, 2018).). For instance, some

businesses utilise generative AI in improving work efficiency through a reduction of the total

time people take to learn concepts, generate ideas, and develop outlines. Software developers

have developed smart chatbots that handle simple questions in customer care departments,
Digital Business Transformation Strategy 9

which lowers the burden exerted on customer service representatives (Suduc & Bizoi, 2022).

Conversely, teleconferencing tools have revolutionised work processes by allowing

employees to interact remotely (Donald, 2019) Leading and Managing Change in the Age of

Disruption and Artificial Intelligence. Numerous businesses, organisations, and agencies

utilised the technology in enabling board and regular corporate meetings during the peak

pandemic period. Today, businesses utilise the technology avoiding huge costs and

inconveniences associated with conventional meetings.

The IoT technology has increased tremendously in companies operating in different

nations globally. The IoT represents the networking process that facilitates communication

and increases the interconnectedness of digital technologies (Rath & Roy, 2024). The

internetworking approach enables technological devices to gather and share data from

different locations. The technology allows users to control and sense objects remotely within

an existing network infrastructure. Internetworking creates an opportunity for integrating

physical activities into the digital world, which creates outcomes like economic benefits,

increased accuracy, and improved efficiency. IoT adoption reduces the dependence on human

intervention, which supports businesses in minimising labour costs. However, the derived

interconnectivity makes this digital technology highly vulnerable to cyberattacks. The

security threat has forced providers to implement measures required to improve IoT security

and protect users (Feng et al., 2020). Security assurance has led to the continued usage of this

digital technology in modern companies, including multinational ones.

Modern businesses depend on teleconferencing and cloud computing in supporting

remote work initiatives. Remote work gained major popularity during the COVID-19

pandemic period since it helped businesses continue operating while protecting their clients.

Afterwards, businesses recognised the remote work initiative’s effectiveness in strengthening

their HRM programs. Some businesses implemented fully remote or hybrid workplaces to
Digital Business Transformation Strategy 10

provide work-life balance while sourcing talent from different nations globally. Implementing

the work-from-home initiative required these businesses to rethink monitoring and workflow

streamlining to problems like absenteeism and disruptions. However, the digital

transformation has necessitated cybersecurity measures adoption to protect confidential data

and crucial resources. Experts observe that increased digital technology usage exposes

businesses to cyberattack threats like hacking, denial-of-service attacks, phishing attacks, and

malware attacks. Software engineers have focused on developing proper cybersecurity

measures to protect corporate and individual users from different cyberattack threats.

Contemporary approaches to digital business impact can impact on meeting Primak’s

KPIs like revenue growth, profit margin, customer experience, productivity, and cost.

Teleconferencing tools allow businesses to improve employee experience through the remote

work strategy (Marr, 2012). Current studies indicate that the remote work initiative offers

employees a life-work balance that leads to their general welfare (Parmenter, 2015). The AI

technology provides features that support businesses in providing effective customer support

services, including intelligent virtual assistants, and voice recognition. The process defines a

customer-centred approach that creates revenue maximization opportunities for companies

like Primark. Cloud computing platforms also provide multiple functions with positive

effects on employee performance in organisational workplaces. For instance, digital

technology can enable Primark’s employees to analyse, organise, and interpret big data.

Sharing data across the company can support these professionals in making sound decisions

and avoiding computational errors. Automating different workplace activities offers the

company an opportunity to reduce operating costs and optimise its profitability.

Digital Technologies Usage to Achieve Business Objectives

The digital transformation process would enable Primark to utilise technological

resources, systems, and devices to improve different processes. In this case, the company can
Digital Business Transformation Strategy 11

implement digital technologies in marketing, customer care, work process improvement,

management, knowledge management, and budgeting. Advanced technological resources can

support the company in creating effective but low-cost marketing programs. The process

would involve using technology to create engaging and customized marketing campaigns for

different markets (Pascucci et al., 2023). For instance, the company can utilise social media

platforms like YouTube, Twitter, Facebook, and Instagram in marketing its brand (Arora et

al., 2019). The focus on social marketing can support Primark in avoiding the huge costs

associated with marketing products and brands using conventional media platforms

(Olotewo, 2016). Digital marketing can help in creating highly targeted and interconnected

ecosystems for Primark’s marketers. The company can depend on this approach in creating a

huge loyal customer base using effective attraction and retention tactics.

Digital technologies can improve data collection, sharing, and analysis in Primark’s

workplace, which can improve the decision-making process. Data availability means that the

management team can make informed decisions regarding the company’s operation.

Essentially, cloud computing technology can allow management to make effective and quick

decisions when exposed to abrupt and serious problems (Dwivedi et al., 2020). In this regard,

professionals observe that technological tools like cloud computing platforms enable

individuals to obtain up-to-date data swiftly (Berikol & Killi, 2021). The data creates an

evidence base that guides employees in performing in-depth evaluations and judgments of the

seriousness of a specific organisational issue. Sharing collected data using social media

platforms and email can enable management to streamline activities across Primak’s branches

and departments. Hence, Primark’s management should digital transformation focus on

employing digital technologies in addressing external and internal obstacles to performance

enhancement and profit optimisation.


Digital Business Transformation Strategy 12

The digital transformation can improve Primark’s capacity to provide satisfactory

customer support services in the future. Specifically, digital technology is expected to

improve customer gratification in multiple ways, including price reduction, quality

maximisation, secure transactions, self-service, personalised service, and online selling.

Analysis suggests that Primark can reduce product prices by embracing automation, which

would minimise its operating costs (Mariia et al., 2020). The company can improve consumer

shopping experience using AI tools, chatbots, machine learning and real-time messaging. In

this regard, machine learning and AI can support the business in creating personalised

services for its diverse customer populations (Omri & Mribah, 2022). The company can

accomplish real-time communication through customer service delivery via website and

social media platforms. Embracing blockchain technology can support the company in

providing secure payment options for products offered through its e-commerce platform. The

advanced technology can help the business in protecting its clients from different cyberattack

threats like hacking.

Digitising operations can allow Primark’s managers to control and regulate operations

in its outlets globally. Efficient management linked to digitisation can enable the company to

expand beyond the US and Europe. The statement means that digital technology can improve

Primark’s capacity to manage its 432 stores located in the US and 11 European countries.

Improved management suggests that the company can open and effectively manage new

outlets in South American, African, and Asian countries. In this case, digital technologies like

social media, videoconferencing, and mobile communication can help in improving

management in this multinational company (Nadire & Daniel, 2021). For example,

videoconferencing tools like Zoom, Cisco Webex, GoToMeeting, and Google Meet can

support senior managers in holding virtual meetings with managers in different outlets

(Suduc & Bizoi, 2022). The interactive procedure can allow this business to reduce
Digital Business Transformation Strategy 13

management expenses while synchronising activities across its branches (Ahmadsimab et al.,

2023; Yuwono et al., 2023). Online interaction can further enable senior management to

engage subordinate managers in crucial decision-making processes.

The digital transformation can enable Primark to implement an open communication

strategy and collaborative processes in its workplace. The process aligns with the need to

maintain cross-functional workplaces in modern companies. The strategy offers businesses

benefits like enhanced innovation, improved content management, team member motivation,

and enhanced information sharing (Imran et al., 2021). Digital technology adoption implies

that collaborative processes in workplaces are not limited to physical workplaces. Rather, a

collaborative process can involve remotely working individuals in problem-solving

operations for the company. A teamwork strategy can enhance innovation in the company

through enhanced knowledge sharing in the workplace. The process offers businesses an

opportunity to solve complex problems within short durations and generate innovative ideas.

Hence, Primark can utilise digital technologies in transforming its workforce into a crucial

resource for competitiveness in the global fashion industry. Creating innovative workplace

teams can further support the business in expanding its market share and optimising its

profitability.

Additionally, digital transformation can create tremendous improvement in financial

and performance management in the multinational company. Primark’s management should

focus on implementing accounting systems and management information systems to improve

its performance (Berikol & Killi, 2021). The company’s professional team can utilise these

accounting tools to in making transactions highly convenient, efficient and appropriate (Pan

& Lee, 2020). Technological tools like SPSS and cloud computing platforms can support

accounting tools in performing accounting tasks efficiently and swiftly. The accounting team

can capitalise on automated reporting and analytic solutions in making informed decisions
Digital Business Transformation Strategy 14

about organisational growth and competitiveness. Using these tools can enable the business to

improve its data monitoring operations to ensure timely problem detection in the business.

Crucial details that the accounting team can obtain from the financial statement are the

company’s stability, competitiveness, performance, and creditworthiness (Martínez-Peláez et

al., 2023). Currently, this information can support the management in making effective plans

for Primark’s international expansion and competitiveness.

Digital Interaction

B2C Interaction

Digital technology is expected to revolutionise how Primark interacts with customers

in the global fashion market. In particular, the business can utilise advanced digital

technologies in improving its business-to-customer (B2C) interaction in the future.

Technological resources like social media platforms can support the business in popularising

its brand among social media users. Social media platforms offer businesses multiple

benefits, including increased revenue, targeted sales, augmented web traffic, and increased

brand awareness (Iankova et al., 2019). The process involves marketing its brand across

social media platforms with huge user populations to maximise market reach (Bouwman et

al., 2019). Effective marketing procedures can support the multinational company in

changing clients’ perspectives of Primark’s brands and products. The company can utilise

digital technologies to streamline operations in the customer care department. Automating

customer interactions can enable the company to optimise its engagement in decision-making

processes. Primark customer service employees can utilise technological tools like the

configurable customer support app to provide a personalised customer experience. Interacting

with individuals via these platforms can help the business in increasing its revenues and

maintain competitive brands.


Digital Business Transformation Strategy 15

B2B Interaction

Business-to-business (B2B) provides a focused interaction process using the ABM

(account-based marketing) strategy. ABM features a messaging procedure that focuses on

capturing attention of key decision-makers serving in target client companies. Primark can

utilise digital technologies in improving B2B interaction in the market (Kraus et al., 2022).

The company can accomplish this objective through digital tools implementation in

facilitating digital advertising and improving brand transparency. Account-based digital

marketing can support Primark in popularising its brand among its corporate customers. The

company can also utilise digital technologies in providing details like addons for products,

past purchases, regularly ordered products, and stock levels through e-commerce platforms.

Primark can further utilise digital technologies in supporting digital advertising concepts and

improving brand transparency, which can improve its relationship with different corporate

clients (Bridges et al., 2005). In this case, social media marketing can play a crucial role in

improving the company’s relationship with these clients. Other corporate functions that

require businesses to perform digital transformation are multi-channel penetration, tactical

advertising, target account identification, and account portfolio management.

Digital Technologies' Effectiveness on Business Objectives

Generally, digital technologies can enable Primark to accomplish objectives like

continuous growth, profit maximisation, and competitiveness. Investing in digital

technologies offers the company an opportunity to reduce costs related to global market

expansion. Creating an e-commerce website can protect the company from huge costs related

to physical store setup. The digital transformation can help the company in reducing the

dependence on brick-and-mortar stores, which are rigid and expensive. Digital integration

offers Primark a chance to exploit opportunities created by the growing demand for e-

commerce services (Chaffey, 2019). Hence, digital transformation aligns with the company’s
Digital Business Transformation Strategy 16

need to cope with the constant shift in consumer shopping behaviour in the globalised

market. Satisfying consumer demands can enable the multinational company to increase its

income and market share (Growjo, 2024). The digital transformation process can allow the

company to overcome competitive pressure from dominant fashion companies like Sports

Direct, Zara, JD Sports, Uniqlo, H&M, Gucci, Marks & Spencer, and Chanel. Addressing

pressure from these competitors can enable Primark to grow its market share while avoiding

huge marketing costs. Inability to cope with this pressure can expose the business to

problems like reduced profitability, loyal customer base shrinkage, market share decline, and

collapse.

Conclusion

Digital transformation is an important operation that enables businesses to remain

competitive, relevant, and profitable in the globalised market. Particularly, the digital

integration procedure can support Primark in exploiting opportunities available in the

globalised fashion industry. Various benefits that the multinational company can accrue

through digitisation are improved governance, reduced operational costs, innovation,

productivity enhancement, improved decision-making, and quality optimisation. Digital

business models that support digital transformation in modern businesses are the digital

ecosystem model, e-commerce model, freemium model, marketplace model and free model.

Contemporary approaches in the digital business environment are remote work, cloud

computing, artificial intelligence, IoT, teleconferencing, and cybersecurity. Digital

technologies can be utilised to improve different activities in the multinational company,

namely customer care, management, budgeting, knowledge management, marketing, and the

workplace. Therefore, digital transformation can enable Primark to achieve its

competitiveness, profitability, and continuous growth objectives.


Digital Business Transformation Strategy 17

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