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

<p>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.</p>

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Publication Details

Journal
НОВИ ЕКОНОМИСТ
Published
2024-12-30
DOI
https://doi.org/10.69781/noek202436041
Primary Topic
Economic and Technological Systems Analysis
Type
article
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article

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

Živko Erceg, Nataša Đalić
НОВИ ЕКОНОМИСТ
Economic and Technological Systems Analysis
article

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

Živko Erceg, Nataša Đalić
article en

Abstract

<p>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.</p>

НОВИ ЕКОНОМИСТVol. 18(36)
University of East Sarajevo (BA)
Openalex Percentile: Top 58%
Economic and Technological Systems Analysis
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