Introduction
DB FPX 8620 Assessment 2 There are two parts to this assignment. The first will compare outcomes from a scholar and practitioner view regarding the strengths and weaknesses of leaders undergoing digital transformation.
Part two will contain a draft proposal for the Harvard Business Review on leadership in digital transformation in retail. The proposal will address the central message, the necessity of the proposed solution, and its implication on current retail business operations. An updated literature review matrix will be included in this assessment submission as a separate document.
Leading Digital Transformation in Retail
It means adopting digital technologies in the operations and strategy of a company. Examples include moving from office to virtual environments, employing automated customer service, employee performance management, and the application of artificial intelligence to improve efficiency.
Positive Aspects of Leaders and Digital Transformation
Belka (2021) posits that digital transformation can aid in creating positive employee experiences and work culture. Turner (2019) holds the view that engaged employees lead to above-average productivity and drive team performance. Positive work culture and engaged workers enhance business performance through improved productivity across all departments and minimal staff turnover, having a positive impact on the bottom line. Transformation leaders, though, can retain a positive work environment for all employees despite embracing digital transformation. This leads to improved business performance.
Negative Aspects of Leaders and Digital Transformation
As per Sannapureddy (2018), digital transformation is rewiring processes, products, and strategies through available technologies. Change-resistant may be a negative side leader can face at this stage which may damage the business. Empirical evidence of research conducted by Bateh et al. (2013) shows that leaders should be trained in managing resistance and being informed of combating it. The disadvantages of staff resistance to change are a drop in productivity, negative workforce attitude, and impaired business relationships. Ingram (2017) postulates that even though changes tend to be company-benefiting, their outcomes are uncertain.
How are Leaders Adapting to Change
Leaders need training in adapting to change. Stichler (2011) believes that change is one of a leader’s most basic yet challenging tasks. As change occurs, leaders are required to take into account the implementers as well as recipients of the change. Leaders may best facilitate work place change through flexibility in accommodating priority and goals adjustment and implementing strategic planning.
Leadership and Business Model Innovation
Denning (2021) suggests that a new kind of leadership is required to navigate the digital age. An example of this is most major retailers and fast-food operations moving from in-person ordering to mobile applications and contactless delivery options. The COVID-19 pandemic forced businesses to rethink traditional models and incorporate digital strategies to stay competitive. Leaders are dealing with these changes by giving autonomy and freedom to make decisions and requesting employees to provide ideas and viewpoints to achieve common organizational goals. Dubey (2019) suggests that in the modern digital era, leaders ought to provide freedom and autonomy to make decisions and request team members to provide ideas and opinions to achieve common organizational goals.
Leadership Strategies in the Digital Age and Their Effectiveness
Li et al. (2016) discuss in a study about the fundamental concerns faced by medium and small businesses during the time of digital technology. The technology revolution due to digital technology forced the leaders to align business strategy with digital technology for long sustenance and growth. Proper digital transformation relies upon a sound rapport between the leadership and information system function. Hirt and Willmott (2014) suggest that businesses must conform to a plug-and-play approach to business if they are to remain competitive. Such an approach allows businesses to integrate new and existing models into their value chains, a case in point being the way the travel industry adapted positively. With more specialty providers on new digital platforms, competition grows.
Harvard Business Review Proposal
Central Message
The upcoming article, “Leading Digital Transformation in Retail,” explains the impact of the COVID-19 pandemic on business operations. The traditional business model was severely affected, necessitating an immediate shift to a digital approach for survival. The article will explain how digital approaches can be integrated with traditional bricks-and-mortar shops. The gap in practice is with certain retailers relying solely on traditional models, which can significantly impact revenue without integrating digital innovation.
Why is Digital Transformation Strategy Important?
This article is essential because businesses are contemplating the next step during the downturn in the pandemic. Business owners are asking whether they should return to old models or go for digital innovations with ease. This article will explore these contemplations by emphasizing the importance of a digital strategy to remain competitive. Their roles as managers of this new digital business landscape also need to be comprehended together with the way their day-to-day activities alter. Those leaders accustomed to traditional business models require training in digital strategy as well as management.
Management Considerations
If a new digital plan is implemented, managers will need to review financial reports to determine its impact. Favorable results, such as steady or increased revenues, can lead to a long-term digital plan. Unfavorable results will need to be reviewed again when in-person transactions resume. This is a relevant subject to modern business decisions.
Source of Authority
Stackpole (2021) describes how information technology teams rapidly rolled out initiatives for remote work and digital operations. Overby (2021) documents that business models based on face-to-face interactions successfully adjusted to digital delivery. Papagiannidis et al. (2020) suggest that companies survived the pandemic impacts through fast adoption of digital transformation initiatives. Hai et al. (2021) determine that digital transformation is reshaping business models, processes, services, and relations. Papagiannidis (2020) refers to how augmented reality was used in retail web environments, allowing clients to visualize purchases.
Experience
My personal and professional experience with digital transformation during the pandemic is having to adjust from office work to home work, boosting productivity. I have embraced online shopping for groceries and other products, and I will continue doing the same after the pandemic for convenience.
References
Bateh, J., Castaneda, M. E., & Farah, J. E. (2013). Employee resistance to organizational change. International Journal of Management & Information Systems (IJMIS), 17(2), 113. https://doi.org/10.19030/ijmis.v17i2.7715
Belka, A. (2021, October 30). 5 digital transformation examples. What is it & benefits. Digital Product Design and Development Company Boldare.https://www.boldare.com/blog/5-examples-of-digital-transformation/
Denning, S. (2021, March 15). How new leadership succeeds in the digital age. Forbes.https://www.forbes.com/sites/stevedenning/2021/03/14/how-new-leadership-succeeds-in-the-digital-age/?sh=40d35a0050a1
Dubey, A. (2020, February 8). This is what great leadership looks like in the digital age. World Economic Forum.https://www.weforum.org/agenda/2019/04/leadership-digital-age-leader/
Hai, T. N., Van, Q. N., & Thi Tuyet, M. N. (2021). Digital transformation: Opportunities and challenges for leaders in the emerging countries in response to Covid-19 pandemic. Emerging Science Journal, 5, 21–36.https://doi.org/10.28991/esj-2021-sper-03
Hirt, M., & Willmott, P. (2019, July 17). Strategic principles for competing in the digital age. McKinsey & Company.https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/strategic-principles-for-competing-in-the-digital-age
Ingram, D. (2017, November 21). What are the pros and cons of change in a business? Small Business – Chron.Com.https://smallbusiness.chron.com/pros-cons-change-business-433.html
Li, W. (2016, June 15). e-Leadership through strategic alignment: An empirical study of small- and medium-sized enterprises in the digital age. SpringerLink.https://link.springer.com/article/10.1057/jit.2016.10?error=cookies_not_supported&code=9f64e5b0-d14c-4951-b265-685dadc0fc72
Overby, S. (August 16, 2021). 9 digital transformation truths that the pandemic rewrote. The Enterprisers Project.https://enterprisersproject.com/article/2021/8/digital-transformation-9-truths-post-pandemic
DB FPX 8620 Assessment 2 Harvard Business Review Article Proposal
Papagiannidis, H. (2020). How AR is redefining retail in the pandemic. Harvard Business Review.https://ismguide.com/wp-content/uploads/2022/03/How-AR-is-Redefining-Retail.pdf
Papagiannidis, S., Harris, J., & Morton, D. (2020). WHO led the digital transformation of your company? A reflection of IT related challenges during the pandemic. International Journal of Information Management, 55, 102166. https://doi.org/10.1016/j.ijinfomgt.2020.102166
Sannapureddy, B. R. (2018, November 20). What is digital transformation (DX)? Pros and cons and challenges and how to face them? LinkedIn.https://www.linkedin.com/pulse/what-digital-transformation-dx-pros-cons-challenges-how-sannapureddy/?trk=related_article_What%20is%20Digital%20Transformation%20(DX)?%20Pros%20and%20Cons%20and%20Challenges%20and%20How%20to%20face%20them?_article-card_title
Stackpole, B. (2021, July 27). Digital transformation after the pandemic. MIT Sloan.https://mitsloan.mit.edu/ideas-made-to-matter/digital
-transformation-after-pandemic
Stichler, J. F. (2011). Adapting to change. HERD: Health Environments Research & Design Journal, 4(4), 8–11. https://doi.org/10.1177/193758671100400402
Turner, P. (2019). Employee engagement and the employee experience. Employee Engagement in Contemporary Organizations, 1–26.https://doi.org/10.1007/978-3-030-36387-1_1
