×
Home Current Archive Editorial board
News Contact
Review

THE IMPORTANCE OF DIGITAL TRANSFORMATION FOR BUSINESS DECISION-MAKING IN ORGANIZATIONS

By
Živko Erceg Orcid logo ,
Živko Erceg

University of East Sarajevo, Faculty of transport and traffic engineering Doboj , Doboj , Bosnia and Herzegovina

Nataša Đalić Orcid logo
Nataša Đalić

University of East Sarajevo, Faculty of transport and traffic engineering Doboj , Doboj , Bosnia and Herzegovina

Abstract

In today's rapidly changing business environment, digital transformation is emerging as a key success factor for organizations of various sizes and organizational structures. This paper explores how digital transformation affects the business decision-making process within organizations, highlighting its importance for improving efficiency, accuracy and speed in decision-making. Through an analysis of existing literature and case studies, the paper examines in detail various aspects of digital transformation, including the integration of advanced technologies, as well as the changes these technologies bring to organizational structures and cultures. The research focuses on concrete examples of how technological innovations enable leaders and managers to make reliable and timely decisions, while increasing transparency and employee engagement. The paper also highlights how digital transformation contributes to the development of agile and adaptable organizational models, which enables organizations to respond more effectively to market changes and challenges. Through the synthesis of research findings, the paper concludes that digital transformation is not only imperative for maintaining competitiveness, but also a key aspect for making innovative business decisions. The ultimate goal of this research is to provide insight into how organizations can strategically approach digital transformation in order to maximize their potential for making better business decisions, while simultaneously increasing their efficiency and competitiveness in the market.

References

1.
Anthony Jnr B. Managing digital transformation of smart cities through enterprise architecture–a review and research agenda”. Enterprise Information Systems, Taylor & Francis. 2021;15(3):299–331.
2.
Bouwman H, Nikou S, Molina-Castillo F, Reuver M. The impact of digitalization on business models. Digital Policy, Regulation and Governance. 2018;20(2):105–24.
3.
Čelik P. Bezbednosne implikacije digitalnog poslovanja, Ekonomija- teorija i praksa, godina XII, broj 4. 2019;61–81.
4.
Dokić A, Stojković D. Elektronska nabavka kao poslovni koncept sa strateškim i operativnim implikacijama po trgovinsko poslovanje. Ekonomske ideje i praksa. 2020;36:31–51.
5.
Erceg Ž, Đalić I, Đalić N. Važnost širenja znanja u procesu digitalizacije društvenog preduzetništva.Univerzitet u Istočnom Sarajevu, Saobraćajni fakultet i Saobraćajni inženjering, BiH. 2023;
6.
Imamović-Čizmić K. Digitalna ekonomija, novi koncepti takmičenja privrednih subjekata i izazovi za pravo i politiku konkurencije, Godišnjak Pravnog fakulteta u. 2020;157–81.
7.
Janićijević N. Organizaciona kultura i menadžment, Beograd, Ekonomski fakultet. 2013;
8.
Krmpotić G. Digitalna transformacija, Obrt za poslovno savjetovanje. 2022;
9.
Krsmanović B. Izazovi digitalne ekonomije, VIII Međunarodni Simpozijum i korporativnom upravljanju, Banja Vrućica. 2013;
10.
Marković B. CONTROLLING U DOBA DIGITALNE TRANSFORMACIJE. 2019.
11.
Nayyar S. How can we ensure a safe and equitable digital transformation? Business leaders explain, SAD. 2022;
12.
Petković S. Preduzetništvo i inovacije u digitalnoj eri [Entrepreneurship and Innovation in the Digital Age. Banja Luka. 2021;
13.
Rauschenberger J. Digital transformation: 3 strategies to manage change. 2017;
14.
Shallmo D, Williams C. Digital Transformation of Business Models - best practice, enablers and roadmap. International Journal of Innovation Management. 2017;21(8):1–17.
15.
Shallmo D, Williams C. Digital Transformation of Business Models - best practice, enablers and roadmap. International Journal of Innovation Management. 2017;21(8):1–17.

Citation

Article metrics

Google scholar: See link

The statements, opinions and data contained in the journal are solely those of the individual authors and contributors and not of the publisher and the editor(s). We stay neutral with regard to jurisdictional claims in published maps and institutional affiliations.