DIGITALIZATION IN TRADITIONAL BUSINESS
Authors:
- Purva Joshi- 021330024526
- Isha Parekh- 021330924013
- Harshal Gaikwad- 021330124001
Introduction:
Digitalization is fundamentally transforming traditional businesses by integrating digital technologies into their operations, which enhances efficiency, improves customer engagement, and fosters innovation. This shift allows companies to automate processes, streamline workflows, and provide personalized experiences to customers.
Objective:
To assess the extent of digital adoption and identify barriers to implementation, enabling targeted strategies for improvement and growth.
Reference:
(Bhattacharya, S. A.-S.)
This chapter proposes a conceptual framework for a digitalized ecosystem based on service-dominant logic and interorganizational governance, highlighting how sustainable governance models can enhance value co-creation among stakeholders. It suggests that increased network density will foster shared culture, relational benefits, innovation, and adaptability in a dynamic business environment.
(Ritter, 2020)
The article explores the evolution of digitization and digitalization in B2B companies, defining terms and presenting a model to understand digitization capacity. It emphasizes the impact on business strategies and suggests future research for better comprehension of digital transformation.
Data Collection:
We collected data through a survey distributed via Google Forms, targeting the impact of digitalization in traditional businesses. The survey utilized a Likert scale to assess respondents’ perceptions and experiences. A total of 100 individuals participated in the survey, ensuring a diverse range of insights. The survey comprised following questions:
- I improved my productivity through digitalization
- I found online shopping more convenient
- Me using online resources enhance my learning
- I was concerned about digital security threats
- I noticed digitalization improved customer services
Data Analysis:
|
Q1 |
Q2 |
Q3 |
Q4 |
Q5 |
|
|
mean |
4.02173913 |
3.347826 |
3.804348 |
3.782609 |
3.804348 |
|
standard deviation |
0.147441956 |
1.058666 |
0.884925 |
0.867001 |
0.884925 |
|
standard error |
0.216 |
0.1543 |
0.1289 |
0.1264 |
0.1289 |
|
Z |
4.730273752 |
2.25422 |
6.240092 |
6.191524 |
6.240092 |
|
RESULT |
Agree |
Disagree |
Strongly Agree |
Strongly Agree |
Strongly Agree |
Conclusion:
From our survey we have concluded the following,
- Students improved their productivity through digitalization.
- Students could not found online more convenient.
- Students Vigorously enhance their learning by online resources.
- Students were very concerned about digital security threats.
- Students confirmed that digitalization improved customer services.
References:
Bhattacharya, S. A.-S. (2017, may 18). Where Digitalization Meets Sustainability: Opportunities and Challenges. Springer Link, 11.
Ritter, T. (2020, April). Digitization capability and the digitalization of business models in business-to-business firms: Past, present, and future. Industrial Marketing Management, 86, 10.