Value propositions in a digitally transformed world

Taylor, Steven A.; Hunter, Gary L.; Zadeh, Arash H.; Delpechitre, Duleep; Lim, Joon Ho

doi:10.1016/j.indmarman.2019.10.004

Cited by 42 publications

(33 citation statements)

References 78 publications

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“…[67] dispute that it is important to reconsider the role of IT strategy. Instead of being viewed as a functional level and, in several situations, guided by a corporate strategy, the IT strategy should be incorporated into the organizational strategy in a systematic way named digital business strategy (or digital strategy), which comprises a corporate strategy developed and applied to leverage digital assets to achieve differential value [8,54]. This context of the merger of IT strategy with organizational strategy is often supported by other scholars, who claim that a complex alignment between IT and organization should take place to obtain a competitive advantage [13,64,65].…”

Section: Aligning Ai Tools and It With Business Strategymentioning

confidence: 99%

“…Taking into consideration the competitive environment of businesses and with vast amounts of data, scarce assets, hence the requirements for velocity in decision-making, several companies have been inspired to implement AI tools, primarily due to their expected implications exhibited by leading digital enterprises [8][9][10][11][12]. Recognizing that the process of transformation involves a review of the corporate strategy, various leading companies are reconsidering the strategic plans for integration of AI tools [13].…”

Section: Introductionmentioning

confidence: 99%

“…Recognizing that the process of transformation involves a review of the corporate strategy, various leading companies are reconsidering the strategic plans for integration of AI tools [13]. Although, researchers argued that further investigation is required to evaluate the magnitude of AI in the organizational planning and implementation of business strategy [14], since, as of yet, there are limited theoretical and empirical findings about the creation of value propositions through AI technologies [3,8,[14][15][16][17][18]. The objective of companies is to establish sustainable performance and sustainable competitive advantage by integrating technology into the decision-making process with corporate strategy.…”

Section: Introductionmentioning

confidence: 99%

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Artificial Intelligence and Business Strategy towards Digital Transformation: A Research Agenda

2021

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In the past decade, current literature and businesses have drawn attention to Artificial Intelligence (AI) tools and in particular to the advances in machine learning techniques. Nevertheless, while the AI technology offers great potential to solve difficulties, challenges remain implicated in practical implementation and lack of expertise in the strategic usage of AI to create business value. This paper aims to implement a systematic literature review analyzing convergence of the AI and corporate strategy and develop a theoretical model incorporating issues based on the existing research in this field. Eighty-one peer-reviewed articles were discussed on the basis of research methodology from Webster and Watson (2002). In addition to gaps in future research, a theoretical model is developed, discussing the four sources of value creation: AI and Machine Learning in organizations; alignment of AI tools and Information Technology (IT) with organizational strategy; AI, knowledge management and decision-making process; and AI, service innovation and value. These outcomes lead to both theoretical and managerial viewpoints, with extensive possibilities to generate new methods and types of management practices.

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Section: Aligning Ai Tools and It With Business Strategymentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Artificial Intelligence and Business Strategy towards Digital Transformation: A Research Agenda

2021

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“…White goods companies have started digital transformation processes, leading them to create new value offers, which to a large extent have focused on operational efficiency [ 31 ]. This praxis proves that these companies have shied away from offering digital solutions directly to the final consumer.…”

Section: Iot Home Market Evolutionmentioning

confidence: 99%

Discovering the Value Creation System in IoT Ecosystems

López

Castillo

Corchado

2021

Sensors

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Internet of Things (IoT) should not be seen only as a cost reduction mechanism for manufacturing companies; instead, it should be seen as the basis for transition to a new business model that monetizes the data from an intelligent ecosystem. In this regard, deciphering the operation of the value creation system and finding the balance between the digital strategy and the deployment of technological platforms, are the main motivations behind this research. To achieve the proposed objectives, systems theory has been adopted in the conceptualization stage, later, fuzzy logic has been used to structure a subsystem for the evaluation of input parameters. Subsequently, system dynamics have been used to build a computational representation and later, through dynamic simulation, the model has been adjusted according to iterations and the identified limits of the system. Finally, with the obtained set of results, different value creation and capture behaviors have been identified. The simulation model, based on the conceptualization of the system and the mathematical representation of the value function, allows to establish a frame of reference for the evaluation of the behaviour of IoT ecosystems in the context of the connected home.

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“…org/10.15405/epsbs.2020.10.03.139 Corresponding Author: Selection and peer-review under responsibility of the Organizing Committee of the conference eISSN: 2357-1330 1221 Figure 01. Co-creation model of value (based on Taylor et al, 2019) An example of such interaction is the modern form of a business model related to sharingjoint usage of resources (Zemskova, 2019). For example, registering a client in a new car-sharing service (hourly use of a car without purchasing it through mobile applications) in the region.…”

mentioning

confidence: 99%