Abstract
The digital economy, as an economy primarily functioning via digital
technologies, has made its impact on the development of the digital transformation
concept. Such a form of business transformation requires the integration of digital
technologies in all industries. The paper underlines the importance of the essential
elements of transformation, regarding customer experience, operational processes,
business models, employee experience and digital platform, along with the key business
spheres relating to competition, innovation and value, which digitalization changes on
the way. The main goal of the paper, therefore, is to point to the impact of digital
transformation on the process of formulating new corporate strategic directions. With
this in mind, the paper's main aim is to stress prospective corporate strategic directions
of digital transformation under conditions of deep digital penetration. The paper is
based on the working hypothesis that despite the fact that existing businesses most
commonly start with market penetration, through developing a digital technology
strategy, as well as a digital market expansion strategy, further development of digital
transformation leads to the creation of digital platforms that are built by a mutual
collaboration of numerous stakeholders connected through joint value creation and its
delivery
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References
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