Strategic Digital Transformation in B2B Companies: Enhancing

Competitiveness Through Technological Innovation

Jingyi Wang

School of International and Public Affairs, Columbia University, New York, 10027, U.S.A.

Keywords: Digital Transformation, B2B Marketing, Emerging Technologies, Business Model Innovation.

Abstract: With the rapid development of information technology and the intensification of competition in the global

market, B2B companies face unprecedented pressure to transform. This study examines how B2B companies

can enhance their competitiveness through digital transformation in response to technological changes in the

business environment and increasing market competition. Through the literature, this study analyses the role

of data in B2B digital transformation, the impact of emerging digital technologies, changes in business models

and user experience, and the challenges of digital transformation. The study shows that effective use of data,

adoption of advanced digital technologies, and innovation in business models are essential for B2B companies

to achieve successful digital transformation. This study also points out that digital transformation is not just

about technological change but involves a complete reorientation of corporate culture, strategic positioning,

and internal structure. The study highlights the importance of cross-functional collaboration and discusses

strategies to ensure data security and privacy during digital transformation.

1 INTRODUCTION

Technological advancement and change in the

commercial environment have intensified industry

competition, compelling business-to-business (B2B)

companies to accelerate their transformation efforts

to adapt to the external environment by enhancing

their competitiveness. As a result, B2B marketing

faces increased pressures to engage in digital

transformation.

Digital transformation is generally understood as

the innovative process through which companies

adopt digital technologies for reshaping various

aspects of their business, ranging from vision and

strategy to organizational structure, processes,

capabilities, and culture to adapt to the highly

dynamic external environment (Warner & Wäger,

2019). The external factors influencing digital

transformation primarily include developing and

penetrating digital technologies, intensified

competitive environments, and changing user

demands. Through digital transformation, B2B

enterprises must also actively leverage innovative

technologies and digital tools, such as SaaS,

marketing automation, and artificial intelligence (AI).

https://orcid.org/0009-0008-9203-0114

These technologies are crucial for enhancing business

efficiency and reducing costs, thereby increasing

competitiveness. One of the transformation focuses

for B2B companies is the digitalization of marketing.

This literature review focuses on the digital

transformation of B2B companies, particularly in

marketing. The first section introduces digital

transformation for businesses and its role in strategic

management. The second section discusses the role of

data in digital transformation for B2B companies.

The third section examines emerging digital

technologies relevant to digital transformation, and

the following section focuses on the changes that

digital transformation brings to business models and

user experience. Lastly, the challenges of digital

transformation are identified.

2 DEFINING DIGITAL

TRANSFORMATION

The exploration of digital transformation of

companies began with the development of

informatization. According to Morton (1991),

Wang, J.

Strategic Digital Transformation in B2B Companies: Enhancing Competitiveness Through Technological Innovation.

DOI: 10.5220/0013228100004558

Paper published under CC license (CC BY-NC-ND 4.0)

In Proceedings of the 1st International Conference on Modern Logistics and Supply Chain Management (MLSCM 2024), pages 11-17

ISBN: 978-989-758-738-2

information technology has transcended the

limitations of time and space. For businesses,

effectively utilizing information technology to

address future economic changes requires

transforming their existing organizational structures.

The definitions of digital transformation in existing

literature in management are diverse. Fitzgerald et al.

(2014) define digital transformation as using digital

technologies of various types to achieve substantial

improvements. According to Vial (2021), digital

transformation can be defined as significant changes

in the properties of an organization triggered by

integrating information, computing, communication,

and connectivity technologies to improve

organizational processes. Digital transformation is

believed to reflect the inherent complexity found in

the external environment of the business as well as

the disruptive impacts brought forth by the adoption

of digital technologies on businesses and the broader

society.

Many scholarly attempts to define digital

transformation highlight its impacts beyond

improving operations and processes. Warner and

Wäger (2019) emphasize that digital transformation

can be considered a continuous strategic renewal

process, leveraging digital technological

advancements to renew or replace organizational

business models, collaboration methods, and culture.

Warner and Wäger (2019) suggest that digital

transformation often begins with the strategic renewal

of existing business models and business model

changes, followed by broader corporate collaboration

methods, ultimately leading to deeper cultural

changes within the business if properly implemented.

Similarly, Furr and Shipilov (2019) highlight that

digital transformation involves adopting digital tools

to transform core functions and identifying and

capturing new opportunities brought by

digitalization.

The impacts of digital transformation on

organizational strategy are often highlighted.

Gurbaxani and Dunkle (2019) view digital

transformation as an innovative process through

which companies adopt digital technologies to make

large-scale organizational changes. This process

encompasses both technological and strategic aspects

of the business, requiring the company to reshape its

vision, strategy, organizational structure, etc., to

adapt to a rapidly changing digital environment.

Singh and Hess (2020) note that transformation

implies comprehensive action beyond functional

thinking. Hess et al. (2016) state that digital

transformation involves changing business models,

products, organizational structures, and strategy.

Research also agrees that digital transformation is an

organization-wide and highly complex endeavor that

requires strategic alignment (Li et al., 2016; Smith &

Beretta, 2021). Yoo et al. (2012) emphasized that the

success of digital transformation hinges on the

compatibility between organizational conditions and

the application of digital technologies, without which

value creation may be hindered.

3 ROLE OF DATA IN B2B

DIGITAL TRANSFORMATION

Data has become recognized as one of the crucial

factors of production in the current economy driven

by digital technologies, along with labor, capital,

technology, knowledge, and management (McAfee et

al., 2012). According to Vermesan and Bacquet

(2017), the digital transformation of businesses is also

largely facilitated by the generation and utilization of

data, most notably through creating digital traces with

various mobile digital devices and the operational

data generated by embedded digital devices.

Moreover, data has become a significant competitive

resource for companies, enhancing learning abilities

and dynamic capabilities (Ghasemaghaei & Calic,

2019). Through the processing and analysis of big

data, enterprises can engage in effective exploratory

learning to provide better services that meet the

growing needs of users. For example, Kane (2014)

studied data usability in the case of KLM Royal

Dutch Airlines, which interacts with users through

social media platforms. KLM analyzes the data

generated from these interactions and services to

understand the dynamic changes in user sentiments

and takes targeted actions to maintain user

satisfaction (Kane, 2014).

Loebbecke and Picot (2015) argue that integrating

digitalization and big data analytics enables new work

methods, communication, and collaboration. For B2B

companies, digital transformation involves adopting

data-driven operation mechanisms that acquire data

from internal and external sources, generate and

structure new information, and upgrade and refine

existing information (Troisi et al., 2020). These

mechanisms employ big data analytics to provide key

organizational resources for service innovation.

Companies engaged in digital innovation are better

positioned to manage market uncertainties and reduce

risks by combining user data with other data sources,

thus gaining an advantage in exploring unknown

territories.

MLSCM 2024 - International Conference on Modern Logistics and Supply Chain Management

Traditional businesses have the majority of their

data as dark data, which lacks a strategic application

and cannot generate commercial value. This data is

dispersed across multiple databases, and the lack of

comprehensive customer profiles puts these

businesses at a competitive disadvantage.

Additionally, traditional B2B companies face

fragmented customer acquisition funnels. Marketing

and sales departments fail to effectively consolidate

leads, making it difficult to identify high-quality

prospects and losing potential customers. Digital

marketing addresses these issues by creating a

flexible digital business platform within the company,

integrating business processes between marketing

and sales in real time and enabling more effective

business analysis (Pandey et al., 2020).

4 EMERGING DIGITAL

TECHNOLOGIES

In regard to digital technologies relevant to

organizational digital transformation, debates revolve

around which technologies qualify as

transformational. Disagreements primarily arise in

enterprise-focused research, divided into views on

transforming either business domains alone or the

entire organization with technologies. Westerman et

al. (2014) contend that businesses engage in digital

transformation to improve or restructure business

operations. In contrast, Heilig et al. (2017) believe

that emerging new technologies and technological

trends in the market are the key driving forces for

digital transformation. Legner et al. (2017) argue that

enterprise transformation through any information

technologies constitutes digital transformation.

Conversely, Hess et al. (2016) and Kane et al. (2015)

assert that digital transformation only refers to

organizational changes that involve the adoption of

next-generation digital technologies rather than

technologies new to the organization itself; however,

there is no consensus on the definition of the scope of

such technologies.

The scope of digital technologies that enable the

transformation of businesses remains one of the most

debated issues among scholars in this field.

Bharadwaj et al. (2013) suggest that digital

technologies combine information, computing,

communication, and connectivity technologies. A

widely accepted definition by Sebastian et al. (2020)

identifies next-generation digital technologies as

SMACIT: social, mobile, analytics, cloud, and

Internet of Things technologies, including big data,

cloud computing, blockchain, IoT, artificial

intelligence (AI), and virtual reality. However, some

scholars suggest that this specific set of definitions for

digitally transformational strategies limits the

inclusion of new emerging technologies that may

become adopted in the digitalization process of

companies (Fragapane et al., 2022).

Companies invest heavily in advanced digital

technologies to remain competitive in the constantly

changing market environment. These technologies

can disrupt production activities, often being cheaper,

simpler, more compact, and more convenient,

enabling faster access to computing resources

(Christensen, 2016). Upgrading software and

hardware is believed to be a fundamental

characteristic of digital transformation (Sturgeon,

2021). The emergence of broader computing

resources and new computing models necessitates

organizations to reassess their plans to invest

effectively and use these new technologies to suit

their strategic goals and existing capabilities

(Loebbecke & Picot, 2015). For instance,

organizations need to consider effectively deploying

scalable computing resources internally or through

the cloud to analyze better and manage the

continuously accumulating data (Yoshida, 2017).

For marketing, digital technology enables the

circumvention of intermediaries, allowing direct

communication participants in its value network, such

as business partners; this allows companies to achieve

disintermediation (Hansen & Sia, 2015). On the other

hand, it also strengthens the connections among

various value network participants, facilitating their

collaboration. Digital technology also empowers

users to act as co-creators of value within the value

network. Digitalization assists B2B companies in

establishing digital channels and expanding and

improving sales and communication avenues.

Companies use social media to create direct dialogue

channels with users, linking the digital and physical

worlds to support a multi-channel marketing strategy

(Hansen & Sia, 2015). Additionally, digital

technology enhances internal communication

channels, with digital algorithmic decision-making

coordinating internal activities (Newell & Marabelli,

2015).

B2B companies sell products or services to other

businesses, whose procurement processes often

involve multiple stakeholders. This results in long

and complex sales cycles, sometimes spanning

decades and involving hundreds of employees (Hutt

& Speh, 2021). This makes data-driven personalized

marketing technologies crucial in B2B marketing. For

example, account-based marketing (ABM) targets

Strategic Digital Transformation in B2B Companies: Enhancing Competitiveness Through Technological Innovation

specific key customers by understanding their needs,

preferences, and behaviors and developing tailored

marketing strategies (Bacon, 2021).

5 CHANGES IN BUSINESS

MODELS AND USER

EXPERIENCE

Digital technology has significantly disrupted long-

established processes and structures in traditional

companies (Mithas et al., 2013). The recombination

of products and technologies through digital means

has created new products and services (Mithas et al.,

2013). New business models, transaction methods,

collaboration modes, and competitive strategies have

also emerged (Mithas et al., 2013). Kahre et al. (2017)

suggest that digital technologies have been shifting

competition within industries from a physical to a

virtual realm, where information flows more freely;

in turn, businesses now compete in terms of their

effective access and utilization of information.

Digitalization also promotes industrial

specialization by reducing search and contract costs

(Cirillo & Molero Zayas, 2019). At the same time,

digitalization reduces information asymmetry,

providing more basis for contract formation and

decreasing the likelihood of opportunistic behavior or

partner non-performance (Cirillo & Molero Zayas,

2019). Scholars generally agree that digitalization

positively impacts various aspects of business

performance, enhancing overall industrial flexibility,

improving product quality, increasing production

efficiency, and reducing production costs, thereby

optimizing industries. For instance, production

planning optimization software can enhance

industrial flexibility, and simulation tools can reduce

design and development costs (Fragapane et al.,

2022). Tan et al. (2015) state that digital technology

has significantly transformed how companies create

value, most notably through platforms and

ecosystems utilized by companies like Google and

Apple. Traditional physical product manufacturers

now focus on services and software as core value

creators, incorporating data collection and exchange

capabilities in their next-generation products (Porter

& Heppelmann, 2014).

The digital revolution has profoundly affected

consumer behavior. Digital technology empowers

consumers with extensive information access and

social capabilities, such as using mobile devices for

social engagement with others or obtaining

information from different online communication

platforms, including interactions with companies.

This shift has changed consumers' perceptions; they

now see themselves as active participants in corporate

activities, with higher expectations for products and

services (Lucas Jr. et al., 2013). Consequently,

markets demand higher dynamic capabilities from

enterprises, requiring accurate anticipation and timely

responses to consumer needs. For example,

advertising companies develop algorithms to

understand consumer preference changes in real-

time, enabling dynamic placement of advertisements

and frequent consumer interactions.

Existing literature shows a growing interest in the

digital transformation process, with fragmented

research beginning to explore the coordination

processes of implementing digital transformation in

companies. Digital transformation in companies is a

continuous strategic renewal process involving

updating business models, collaboration methods,

and culture. The formulation of a digital

transformation strategy is believed to be a dynamic

process, iterating and improving through

experimentation and learning (Furr & Shipilov,

2019). Furr and Shipilov (2019) emphasize that the

successful outcomes of digital transformation are the

results of adapting the business to the technological

environment rather than reinventing the organization

based on available technologies. Based on interviews

with over 60 companies and their executives, Furr and

Shipilov (2019) assert that for most companies,

digital transformation involves delivering core value

propositions through incremental changes leveraging

new technologies identified as suitable for the

company rather than radical disruption. Key aspects

of digital transformation include focusing on user

needs, organizational flexibility, and respecting

gradual changes to seize opportunities presented by

digital technologies. Using grounded theory, Vial

(2021) reviews relevant literature and constructs a

framework for the digital transformation process,

suggesting that the creative destruction caused by

digital technology triggers organizational strategic

responses.

6 CHALLENGES OF DIGITAL

TRANSFORMATION

The digital transformation of companies is not a

change confined to a single department; it is a process

involving a series of continuous and long-term

activities. As previously noted, successful

transformation requires coordinated efforts across all

MLSCM 2024 - International Conference on Modern Logistics and Supply Chain Management

departments and comprehensive business operations.

Consequently, during digital transformation, changes

in products and business, business models,

organizational structures, and corporate strategies

may occur simultaneously, sequentially, or in an

overlapping manner, depending on the specific

circumstances of different industries and companies

(Brown et al., 2014). In scope and depth, the

progression typically follows from the digitalization

of products and business to business model

digitalization, organizational structure digitalization,

and corporate strategy digitalization. Businesses

continually generate new business models through

integration with digital technologies, while some

traditional business models gradually become

obsolete.

Digital transformation is challenging, with many

companies either abandoning it midway or failing to

achieve the desired outcomes. Research indicates that

the lack of flexibility is one of the primary barriers to

digital transformation. Svahn et al. (2017) argued that

the rigidity found in the current resources and

capabilities of the organization is the most significant

obstacle to the transformation process; particularly,

companies are commonly deeply entrenched in their

networks of customers and suppliers, as well as in

their optimized business processes established

through experience. Furthermore, entrenched

corporate culture can be a significant hindrance to

transformation. Haffke et al. (2017) found that there

is separation between digital technologies and

business functions in many established companies,

even becoming part of the corporate values. Hess et

al. (2016) studied the digital transformation processes

of three German media companies and found that

each faced issues with traditional financial systems

incompatible with digital technologies. Hess et al.

(2016) emphasized that companies must carefully

design organizational changes to better leverage

digital technologies. Sia et al. (2016) suggested

creating an independent department to drive the

digital transformation strategy, maintaining a degree

of autonomy to foster innovation.

Feher and Varga (2017) proposed that companies

should conduct small-scale pilot projects before fully

rolling out a digital transformation strategy to foster a

willingness to transform and take risks within the

organization, laying the foundation for broader

implementation. This iterative approach enables

learning and continuous adjustment based on pilot

results, ultimately achieving long-term digital

transformation goals. Maedche (2016) noted that

successful digital transformation requires strong

cross-functional collaboration, necessitating

integrating the organizational structure with the

digital transformation strategy. This integration is

challenging and involves overcoming numerous

obstacles related to professional skills and

communication.

Digital disruption has also introduced new issues,

particularly in terms of security and privacy. In the

context of big data, digitalization inevitably involves

consumer information, which companies can use for

product customization and targeted marketing to

enhance consumer utility. However, this also poses

risks of price discrimination and privacy breaches for

consumers. In the study of digitalization in the

automobile industry Piccinini et al. (2015) found

significant data and privacy breaches. Piccinini et al.

(2015) suggest that many data and privacy breaches

have not been adequately addressed after their

identification by the companies for a long period of

time, up to several years. Another study by Newell

and Marabelli (2015) highlighted that algorithmic

decision-making poses substantial security risks.

These processes risk breaching privacy without

sufficient supervision, affecting society and

individuals. Newell and Marabelli (2015) further

suggest that a key issue to insufficient data and

privacy protection is not technical but the reluctance

of relevant institutions and personnel. Many

companies and their management are unwilling to

acknowledge and invest in addressing these problems

related to adopting new technologies. Thus, it is

suggested that security and privacy should be a focus

for relevant government regulators, companies, and

professionals involved.

7 CONCLUSIONS

This study comprehensively examines the key

elements and challenges for B2B companies in digital

transformation. The study reveals that data-driven

operational mechanisms, investment in advanced

digital technologies, and changes to business models

and user experience drive this transformation. Digital

transformation enhances efficiency and reduces costs

through technologies like SaaS and AI. It also

improves customer engagement by enabling

personalized marketing through data analytics.

Additionally, it allows businesses to adapt quickly to

market changes and fosters better collaboration

across departments.

However, organizational resistance to change and

entrenched corporate cultures can hinder digital

transformation efforts. Data security and privacy

concerns increase with the reliance on digital

Strategic Digital Transformation in B2B Companies: Enhancing Competitiveness Through Technological Innovation

technologies, and ensuring robust security measures

can be complex and costly. The initial

implementation costs can be substantial, and there is

a dependency on continuous technology upgrades to

avoid operational disruptions. Enterprises need to

adopt a comprehensive strategy, including cross-

functional collaboration and small-scale pilot

projects, to overcome these obstacles and achieve

their long-term digital transformation goals. Future

research should focus on enhancing cross-functional

collaboration during digital transformation initiatives

and investigating effective change management

practices. Developing comprehensive data security

frameworks and conducting longitudinal studies on

the long-term impacts of digital transformation are

also important. Additionally, exploring the latest

technological advancements and their applications in

B2B marketing can provide valuable insights for

businesses.

REFERENCES

Moore, R., Lopes, J., 1999. Paper templates. In

TEMPLATE’06, 1st International Conference on

Template Production. SCITEPRESS.

Warner, K. S., & Wäger, M., 2019. Building dynamic

capabilities for digital transformation. Long range

planning, 52(3), 326-349.

Morton, M. S. S., 1991. The corporation of the 1990s:

Information technology and organizational

transformation (Vol. 9). Oxford University Press, USA.

Fragapane, G., Ivanov, D., Peron, M., Sgarbossa, F., &

Strandhagen, J. O., 2022. Increasing flexibility and

productivity in Industry 4.0 production networks.

Annals of Operations Research, 308(1), 125-143.

Vial, G., 2021. Understanding digital transformation: A

review and a research agenda. Managing digital

transformation, 13-66.

Furr, N., & Shipilov, A., 2019. Digital doesn't have to be

disruptive. Harvard Business Review, 97(4), 94-104.

Gurbaxani, V., & Dunkle, D., 2019. Gearing up for

successful digital transformation. MIS Q. Executive,

18(3), 6.

Singh, A., & Hess, T., 2020. How chief digital officers

promote the digital transformation of their companies.

In Strategic information management (pp. 202-220).

Routledge.

Hess, T., Matt, C., Benlian, A., & Wiesböck, F., 2016.

Options for formulating a digital transformation

strategy. MIS Quarterly Executive, 15(2).

Li, W., Liu, K., Belitski, M., Ghobadian, A., & O'Regan, N.,

2016. e-Leadership through strategic alignment.

Journal of Information Technology, 31, 185-206.

Smith, P., & Beretta, M., 2021. The gordian knot of

practicing digital transformation. Journal of Product

Innovation Management, 38(1), 166-191.

Yoo, Y., Boland Jr, R. J., Lyytinen, K., & Majchrzak, A.,

2012. Organizing for innovation in the digitized world.

Organization Science, 23(5), 1398-1408.

McAfee, A., Brynjolfsson, E., Davenport, T. H., Patil, D. J.,

& Barton, D., 2012. Big data: the management

revolution. Harvard Business Review, 90(10), 60-68.

Vermesan, O., & Bacquet, J., 2017). Cognitive

Hyperconnected Digital Transformation: Internet of

Things Intelligence Evolution. River Publishers.

Ghasemaghaei, M., & Calic, G., 2019. Can big data

improve firm decision quality?. Decision Support

Systems, 120, 38-49.

Kane, G. C., 2014. Reimagining customer service at KLM

using Facebook and Twitter. MIT Sloan Management

Review, 55(4), 1-6.

Kane, G. C., Palmer, D., Phillips, A. N., Kiron, D., &

Buckley, N., 2015. Strategy, not technology, drives

digital transformation. MIT Sloan Management Review.

Loebbecke, C., & Picot, A., 2015. Reflections on societal

and business model transformation from digitization

and big data analytics. The journal of strategic

information systems, 24(3), 149-157.

Troisi, O., Maione, G., Grimaldi, M., & Loia, F., 2020.

Growth hacking: Insights on data-driven decision-

making from three firms. Industrial Marketing

Management, 90, 538-557.

Pandey, N., & Pal, A., 2020. Impact of digital surge during

Covid-19 pandemic: A viewpoint on research and

practice. International journal of information

management, 55, 102171.

Westerman, G., Bonnet, D., & McAfee, A., 2014. Leading

digital. Harvard Business Press.

Heilig, L., Lalla-Ruiz, E., & Voß, S., 2017. Digital

transformation in maritime ports: analysis and a game

theoretic framework. Netnomics, 18(2), 227-254.

Legner, C., Eymann, T., Hess, T., Matt, C., Böhmann, T.,

Drews, P., ... & Ahlemann, F., 2017. Digitalization:

opportunity and challenge for the business and

information systems engineering community. Business

& information systems engineering, 59, 301-308.

Bharadwaj, A., El Sawy, O. A., Pavlou, P. A., &

Venkatraman, N. V., 2013. Digital business strategy.

MIS Quarterly, 471-482.

Sebastian, I. M., Ross, J. W., Beath, C., Mocker, M.,

Moloney, K. G., & Fonstad, N. O., 2020. How big old

companies navigate digital transformation. In Strategic

information management (pp. 133-150). Routledge.

Christensen, J., 2016. Digital economics: The digital

transformation of global business. BoD –

Books on

Demand.

Sturgeon, T. J., 2021. Upgrading strategies for the digital

economy. Global Strategy Journal, 11(1), 34-57.

Yoshida, K., 2017. Development and promotion of

application technologies for digital business platforms.

Fujitsu Sci. Tech. J, 53(1), 67-70.

Hansen, R., & Sia, S. K., 2015. Hummel's digital

transformation toward omnichannel retailing. MIS

Quarterly Executive, 14(2).

MLSCM 2024 - International Conference on Modern Logistics and Supply Chain Management

Newell, S., & Marabelli, M., 2015. Strategic opportunities

(and challenges) of algorithmic decision-making. The

Journal of Strategic Information Systems, 24(1), 3-14.

Hutt, M. D., & Speh, T. W., 2021. Business marketing

management: B2B. South-Western, Cengage Learning.

Bacon, A., 2021. Strategic account-based marketing: How

to tame this beast. In B2B Marketing (pp. 419-435).

Cham: Springer International Publishing.

Mithas, S., Tafti, A., & Mitchell, W., 2013. How a firm's

competitive environment and digital strategic posture

influence digital business strategy. MIS Quarterly, 511-

536.

Kahre, C., Hoffmann, D., & Ahlemann, F., 2017. Beyond

business-IT alignment-digital business strategies as a

paradigmatic shift: a review and research agenda.

Cirillo, V., & Molero Zayas, J., 2019. Digitalizing industry?

Labor, technology and work organization. Journal of

Industrial and Business Economics, 46(3), 313-321.

Tan, B., Pan, S. L., Lu, X., & Huang, L., 2015. The role of

IS capabilities in the development of multi-sided

platforms. Journal of the Association for Information

Systems, 16(4), 2.

Porter, M. E., & Heppelmann, J. E., 2014. How smart,

connected products are transforming

competition. Harvard Business Review, 92(11), 64-88.

Lucas Jr, H., Agarwal, R., Clemons, E. K., El Sawy, O. A.,

& Weber, B., 2013. Impactful research on

transformational information technology. Mis

Quarterly, 371-382.

Brown, A., Fishenden, J., Thompson, M., Brown, A.,

Fishenden, J., & Thompson, M., 2014. Organizational

structures and digital transformation. Digitizing

Government, 165-183.

Svahn, F., Mathiassen, L., & Lindgren, R., 2017.

Embracing digital innovation in incumbent firms. MIS

Quarterly, 41(1), 239-254.

Haffke, I., Kalgovas, B., & Benlian, A., 2017. Options for

Transforming the IT Function Using Bimodal IT. MIS

Quarterly Executive, 16(2).

Sia, S. K., Soh, C., & Weill, P., 2016. How DBS bank

pursued a digital business strategy. MIS Quarterly

Executive, 15(2).

Fehér, P., & Varga, K., 2017. Using design thinking to

identify banking digitization opportunities–snapshot of

the Hungarian banking system.

Maedche, A., 2016. Interview with Michael Nilles on

“What Makes Leaders Successful in the Age of the

Digital Transformation?” . Business & Information

Systems Engineering, 58(4), 287-289.

Piccinini, E., Hanelt, A., Gregory, R., & Kolbe, L., 2015.

Transforming industrial business: The impact of digital

transformation on automotive organizations.

Strategic Digital Transformation in B2B Companies: Enhancing Competitiveness Through Technological Innovation