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Lozić, J. & Fotova Čiković, K. (2024). Digital transformation: The fundamental concept of transformation of
business activities. 107th International Scientific Conference on Economic and Social Development – Economic
and Social Survival in Global Changes, Zagreb, pp. 326-337. ISSN 1849-7535.
DIGITAL TRANSFORMATION: THE FUNDAMENTAL CONCEPT OF
TRANSFORMATION OF BUSINESS ACTIVITIES
Joško Lozić
University North, Croatia
jlozic@unin.hr
Katerina Fotova Čiković
University North, Croatia
kcikovic@unin.hr
Abstract
The aim of this paper is to define the basic concept of the process of digital transformation of
the organization. The transformation process begins with the digitization of individual business
activities, and the final goal is the digital transformation of the entire business process. The
process of digitization of business activities is a continuous process that harmonizes business
processes in the organization with changes in the environment. Complete digital transformation
implies digitization of business activities at all levels and in all forms. Digital transformation is
always part of the managerial strategy, and all changes are exclusively the responsibility of the
management of organizations. Once the level of digital transformation of the organization has
been reached, it is the basis for further adjustments to changes in the environment. Digital
transformation is based on digital optimization of business processes, and digital optimization
is aimed at building competitive advantages of the organization.
Keywords: digitization, digitalisation, digital optimization, digital transformation, digital
environment.
1. INTRODUCE
Digital transformation has become a fundamental concept in the development of organizations
with a direct impact on changes in social communities. The development of technology has
opened up multiple opportunities for disruptive innovations that have created market niches for
financially uninteresting incumbents on the market. However, digitization alone would not
produce long-term financial results without the use of other management strategies. It follows
from this that man is always at the centre of every transformation, and only then is technology
building the infrastructure for change (Vial 2019). However, the changes that come with digital
transformation are sometimes so dramatic that they do not have enough understanding for the
human side of the perception of that process (Dąbrowska et.al. 2022). Some companies have
taken advantage of the digital transformation, such as Uber and Spotify, and some have lagged
behind: Kodak, Blockbuster, Nokia, Xerox and Tower Records. These examples show that as
the business environment changes, companies must adapt to these changes to ensure value
creation (Skog 2019). Danielly et. al. (2023) point out that technology is not a silver bullet that
solves all problems, and it can be added that without the use of correct management strategies,
the goals will not be fully met. Digital transformation was preceded by digitization processes,
and the fundamental goal of digital transformation is directed towards digital optimization. The
Lozić, J. & Fotova Čiković, K. (2024). Digital transformation: The fundamental concept of transformation of
business activities. 107th International Scientific Conference on Economic and Social Development – Economic
and Social Survival in Global Changes, Zagreb, pp. 326-337. ISSN 1849-7535.
paper analyses the process from the digitization of analog data to the establishment of digital
optimization, with an emphasis on digital transformation. Digitally transformed production
processes directly affect digital changes in the environment of organizations.
2. FROM DIGITIZATION TO DIGITAL TRANSFORMATION
Digital transformation as a business process, but also as a term used for the activities of
organizations related to the IT sector, has its roots in the middle of the last century. The
appearance and development of the first computers, and the transformation of analog data into
digital content, will turn the wheel of history in the segment of technological progress. The term
digitization first appeared in 1954, and defined the conversion of analog data into digital
content. Data has been transformed from records in physical form to digitized form. Boratyńska
(2019) points out that digitization is the process of representing information as '0' or '1' which
computers use to store, process and transmit as information. Digitization determines the change
of analogue to digital activities, that is, it can be conceptualized as the integration of IT into the
existing business process. Digitization directly affects the facilitation of the implementation of
existing activities and effectively affects resource costs (Verhoef et al. 2019; Khanra et.al.
2020). Digitization defines the process of converting information from analog to digital form,
which can result in changes in the existing business model in order to provide value to all
process stakeholders (Heilig et.al. 2017).
Figure 1 History of digital transformation
Source: Lozić, 2019.
Digitalization is a broader term than digitization, and it came into widespread use only a few
years after the term digitization. While digitization meant converting analog data into digital
content, digitalization introduced changes to existing production processes, i.e. business
activities. Digitization refers to the socio-technical method of adopting digitization techniques
to improve social and institutional contexts (Seth et al. 2020). Therefore, digitalization has not
only focused on cost savings, but also includes developing processes that improve citizen
experiences (Verhoef et. al. 2019). While digitization is the process of transforming analog
technology into a digital format, digitalization defines the impact of digital technology on the
existing process, that is, it defines the way in which it transforms the existing business process
(Verhoef 2021). Digitalization is the integration of digital technologies, platforms and services
and their consumption. The literal meaning of digitalization gives the obvious idea of a world
dependent on development and technology (Surender, Khan 2022). While digitalization is
aimed at changes in existing production and business activities, digital optimization is the
opposite process. Digitalization brings changes and new ways of using modern technologies,
Digitization
1954
Digitalization
1959
Digital
Optimization
Digital
Transformation
Value added:
Reducing paper
processing;
Starting with
transformation
from analog to
digital
processing
Value added:
Transformation of
business process
to bottom;
Production of
digital content
Value added:
Reducing
business cost;
Better use of
existing
resources
Value added:
Management
strategy oriented
process;
Supporting
business strategy
focus
Lozić, J. & Fotova Čiković, K. (2024). Digital transformation: The fundamental concept of transformation of
business activities. 107th International Scientific Conference on Economic and Social Development – Economic
and Social Survival in Global Changes, Zagreb, pp. 326-337. ISSN 1849-7535.
and digital optimization is moderated to stabilize the system, reduce production costs, better
use existing resources, and build long-term competitive advantages. Once the digital
optimization of the system has been achieved and the optimization of the use of existing
resources is the basis for the digital transformation of the entire model of business activity. The
principles and processes of digital optimization and digital transformation are described in more
detail in the following chapters. The process that encompasses the transformation from
digitization to digital transformation is shown in Figure 1.
3. DIGITAL OPTIMIZATION
Digitalization of production processes is an introduction to digital optimization of production.
Production organizations that were under pressure from changes in the environment were the
first to come under attack. Optimization requirements came as a result of requirements for
sustainable business, changing consumer habits, and unstable environments that were
increasingly under pressure from socio-economic crises (Abiodun et.al. 2022). The process of
digital transformation implies a connection between the development of technology, that is,
new technological solutions in the business process and the development of the market. The
relationship between the development of technology and the growth and development of the
market, i.e. the increase in the number of users of the organization's products and services, is
shown in Figure 2.
Figure 2 Stages of digital optimization
Source: Own illustration
The process is divided according to growth stages, and each subsequent stage provides a new
level of digital optimization. Digital transformation is the basis of digital optimization of the
business process, which is the basis of future digital transformations. It can be concluded that
digital optimization is a direct result of digital transformation that ensures the business stability
of the organization, that is, builds the foundations of competitive advantage in a particular phase
of the organization's development. In the first phase of development, the digitalization of the
production process achieves the initial level of digital optimization. In Figure 2, it is shown in
area 1.1. Digital optimizations from phase 1.1. is the basis of digital transformation for level
2.2. One part of the business process is digitally transformed and moves to stage 2.2, while part
Digital
optimization
Digital
transformation
Digital
optimization
Digital
optimization
Digital
optimization
Digital
optimization
Business
optimization
Digital
optimization
Digital
optimization
Business
optimization
DT
DT
Business
optimization
Technology
Market
1
2
3
4
1
2
3
4
Lozić, J. & Fotova Čiković, K. (2024). Digital transformation: The fundamental concept of transformation of
business activities. 107th International Scientific Conference on Economic and Social Development – Economic
and Social Survival in Global Changes, Zagreb, pp. 326-337. ISSN 1849-7535.
of the business process has stabilized and has sustainable competitive advantages in stage 2.1.
In the next phase of development, digital transformation is the basis for digital optimization in
phase 3.1. Part of the business process has sustainable competitive advantages that it transfers
to area 3.2. while part of the business process is stabilized and does not require further
transformation and optimization processes. In the picture it is part of Business optimization in
phase 3.1. Part of the business process in phase 3.1. introduces incremental innovations to
remain viable but lacks significant market growth. The business process at that stage is
stabilized, the profits are lower, but they are continuous, and there are no longer significant
investment costs in that part of the business process. With each further process of digital
transformation, the development, growth and division of business activities are repeated into
the part that is the result of digital transformation, which is digitally optimized, the part that is
transferred with minimal interventions of digital transformation, and the part that is further
managed as Business optimization. The global music industry is one of the first industries to
undergo this process. The initial stages of digitization involved recording music content in
digital format on memory discs. Music was still distributed on physical audio carriers, but the
content was recorded in digital format. This phase could be shown in the figure as area 1.1. The
product is digitized in a digitized production model, and the distribution and use of the product
is in the phase of digital optimization in the same model and market size. With the digital
transformation of the content, from the physical sound carrier, to MP3 format, the transition to
phase 2.2 is made. The process has been digitally transformed and a new demand and a new
market has been created. Digital transformation enabled a model of income generation by
selling digitized content on the Internet, which until then only came from "brick-and-mortar"
stores. One part of the market, for physical audio carriers, remains in area 2.1, that is, in the
area of the same level of market development. Digital transformation enables the transition to
phase 3.3. that is, the development of technology enabled the use of streaming platforms, which
directly influenced the development of the new market. Streaming platforms very quickly
reached the level of digital optimization of business activity and assumed complete dominance
in terms of income compared to other monetization models (Lozić, Čiković 2023). Phase 4.4.
it implies the digital transformation of the process and the building of income from
Synchronization. In phase 4.3. the streaming model is transferred as part of already existing
digital optimization, while the other processes are transferred as Business optimization. The
process evolves with each new digital transformation process that is the basis of digital
optimization.
4. DIGITAL TRANSFORMATION
Digital transformation is the process of increasing productivity, value creation and social well-
being by adopting disruptive technologies. It changes organizations by digitizing business
processes using information systems (Imran et.al. 2021). Digital transformation is a process that
completely changes the model of business activity, creates a new way of monetizing products
and services, significantly affects long-term savings in production, and precedes the process of
digital optimization. Once achieved, the degree of digital optimization is the basis for future
digital process transformations. Digital transformation should be about building a competitive
advantage through the continuous implementation of large-scale technologies, with the ultimate
goal of improving user experience and reducing costs (Lamarre 2023). Digital transformation
implies the incorporation and use of new technological improvements in the organization's
products, processes and strategies. In unstable organizational environments, operational
efficiency and cost optimization are one of the goals of digital transformation (Moor 2023).
Technological advances often make it easier to combine existing products and services to create
Lozić, J. & Fotova Čiković, K. (2024). Digital transformation: The fundamental concept of transformation of
business activities. 107th International Scientific Conference on Economic and Social Development – Economic
and Social Survival in Global Changes, Zagreb, pp. 326-337. ISSN 1849-7535.
new digital offerings. While these changes bring new opportunities, they also create
uncertainty. High levels of technical uncertainty mean that digitally transformed projects must
immediately adapt their activities to cope with more complex and new technologies (Xu,
Youngyuan 2018). Digital transformation focuses on increased efficiency and greater agility,
and as the ultimate goal is aimed at creating new value for employees, users and shareholders
(Accenture 2023). It includes the use of new technologies such as artificial intelligence and
cloud computing to drive growth, streamline operations and increase competitive edge (Marr
2023).
Table 1 Digital transformation
Xu &
Yongyuan
2018.
Technological advances often make it easier to combine existing products
and services to create new digital offerings. While these changes bring new
opportunities, they also create uncertainty. High levels of technical
uncertainty mean that DT projects must immediately adapt their activities to
cope with more complex and new technologies.
Matt et.al.
2015.
One of the key factors for realizing long-term benefits is managing multiple
DT projects to achieve the desired results and transformation
Gilli et.al.
2017.
is characterized by velocity and a holistic nature
Mitki et al.
2019.
As digital transformation is driven by advanced digital and hyper-connected
technologies, it requires a rethinking of how people and technology interact
within the organization.
Bockshecker
et.al. 2018.
Researchers and practitioners use both terminologies, i.e. digital
transformation and digitization, when talking about the same phenomenon;
however, some researchers have tried to distinguish the meaning of both
terms.
Bohnsack
et.a. 2018.;
Strohmeier
2020.; Vial
2019.
Digital transformation affects not only the product and service offerings of
organizations, but also their organizational processes, systems, and
operations.
Vial 2019.
Therefore, we define the success of the digital transformation of the project
as the scope of benefits for the digitally transformed project teams and the
achievement of the strategic goals of the digital transformation. Digital
transformation must consider how digital technological advances can change
business models, organizational structures and processes.
Vial 2019.
defined as “a process that aims to improve an entity by triggering significant
changes to its properties through combinations of information, computing,
communication, and connectivity technologies
Vial 2019.
"Digital transformation" is defined as a process in which companies face
changes in their business and economic environment by adopting
technologies to improve their performance.
Rueckel et al.
2020.
Transformational change initiatives require a lot of time and expertise across
multiple business units. Complex DT requires holistic planning, clear
realization of benefits and continuous monitoring of multiple projects.
Barthel &
Hess 2020.
Digital transformation is driven by significant streams of digital innovation
that can cause a significant shift in organizational value.
Lozić, J. & Fotova Čiković, K. (2024). Digital transformation: The fundamental concept of transformation of
business activities. 107th International Scientific Conference on Economic and Social Development – Economic
and Social Survival in Global Changes, Zagreb, pp. 326-337. ISSN 1849-7535.
Singh et al.
2019.
The digital transformation of sales can also be defined as "the application of
digitization and AI technologies to company assets as a means of improving
competencies and rethinking the company's value proposition".
Imran et.al.
2021.
However, digital transformation requires a holistic approach that can address
the entire organization to implement technology-driven change. Therefore,
sociotechnical theory is considered.
Du, X., &
Jiang 2022.
According to Du and Jiang (2022), there are three main determinants that
lead companies towards the digital transformation process, namely changes
in the macro environment, a high level of competitive intensity (Kohli &
Melville 2019) and changing customer requirements (Verhoef et al. 2021).
Abiodun
et.al. 2022.
Digital transformation is the process of increasing productivity, value
creation and social well-being through the adoption of disruptive
technologies. It changes organizations by digitizing business processes using
information systems.
Butollo et.al.
2022.
By choosing the term 'digital transformation', we do not focus on the analysis
of technologies as such, but on the economic and social consequences of
technological changes, which are always socially mediated.
Tsai et.al.
2022.
In measuring the performance of multiple projects, they should take into
account the achievement of business objectives and the degree to which the
objectives have been established to ensure the expected benefits.
Source: Own illustration
Digital transformation refers to a “process that aims to improve an entity by triggering
significant changes to its properties through combinations of information, computing,
communication, and technologies” connectivity (Vial 2019). Digitalization and digital
transformation are very often used in the context of the same meaning. Digital transformation
is a broader term than digitalization, that is, digitalization is a part of digital transformation,
which led scientists to study these two terms in order to determine the differences in meanings
(Bockshecker 2018). Digitalization is the process of introducing digital forms and technologies
into business activities. Digital transformation is driven by significant flows of digital
innovation that can cause a significant shift in organizational value (Barthel & Hess 2020;
Demlehner & Laumer 2020; Wessel et al. 2021). As digital transformation is driven by
advanced digital and hyper-connected technologies, it requires rethinking the interaction of
people and technology within the organization (Mitki et al. 2019). Digital sales transformation
can also be defined as "the application of digitization and AI technologies to a company's assets
as a means to improve competencies and rethink the company's value proposition" (Sing et.al.
2019). For digital transformation to be successful, a program of change at the level of the entire
organization is needed, which includes all influencing factors from new strategic initiatives to
detailed human resource management measures such as personnel selection, incentives or
specialized training (Gilli et.al. 2022). The key task of digital transformation manifests itself as
a thorough change in the monetization model of the business model. Bosch and Olsson (2020)
break down the fundamental stages of the transformation of the revenue monetization model,
analyzing the automotive industry. The digital transformation process is shown in Figure 3. The
initial phase of customer relations is based on transaction theories, that is, sellers try to sell as
many products as possible to customers. In Figure 2, it is phase 1.1. in which organizations
strive to introduce digitization of production processes and optimize business activities. By
digitizing the business process, organizations strive to create a deeper and continuous
relationship with consumers instead of the classic relationship between the seller and the buyer
of a physical product. The next phase involves starting to provide services in areas that have
Lozić, J. & Fotova Čiković, K. (2024). Digital transformation: The fundamental concept of transformation of
business activities. 107th International Scientific Conference on Economic and Social Development – Economic
and Social Survival in Global Changes, Zagreb, pp. 326-337. ISSN 1849-7535.
traditionally been sold as products. At this stage, the organization begins to develop
relationships that diversify and develop monetization models such as subscription or usage-
based fees. The advantage of this model is that it complements the service, that is, the process
of cannibalization of income does not occur. The development of the product as a service has
been brought to an end in the streaming platform model. What used to be sold as a physical
carrier of sound or images is now monetized on the platform as digital content. The two largest
platforms for music and video content in the subscription model are Netflix and Spotify (Lozić
2020). In the third phase, the organization develops complementary services that complement
the core product. The basic product is enriched with added services, but there is a risk of non-
acceptance of these services and the deterioration of the basic product. The development of
completed products can also be connected with the development of additional projects of digital
transformation of the production process. Tsai et.al (2022) point out that performance measures
of multiple projects should take into account the achievement of business goals and the degree
to which goals are established to ensure expected benefits. One of the key factors for realizing
long-term benefits is managing multiple digital projects to achieve the desired results and
transformation (Matt et al. 2015).
Figure 3 Evolution from a traditional to a digital company: The product upgrade dimension
Source: Bosch, Olsson, 2020.
The fourth phase implies the transition to the use of customer KPIs as target results. In this
phase, KPIs determine how well the product meets the needs that the customer considers to be
key. In addition, digital transformation affects not only the product and service offerings of
organizations, but also their organizational processes, systems and operations (e.g. Bohnsack et
al., 2018; Strohmeier, 2020; Vial, 2019). In the fifth stage, the organization uses technological
capabilities to develop secondary databases that it offers to the primary group of customers for
a certain fee. Revenues are generated from activities related to the core business, but a
completely new model of revenue generation is being developed. This phase implies the
development of a business activity or one major part of a business activity to the platform
100% product sale
20% product sale
Time
Product revenue
Service revenue
Secondary customer base
Lozić, J. & Fotova Čiković, K. (2024). Digital transformation: The fundamental concept of transformation of
business activities. 107th International Scientific Conference on Economic and Social Development – Economic
and Social Survival in Global Changes, Zagreb, pp. 326-337. ISSN 1849-7535.
economy model (Parker et.al. 2016, Moazed, Johnson 2016). Digital transformation requires a
holistic approach that can address the entire organization to implement technology-driven
change (Imran 2021). Therefore, we define the success of a DT project as the extent of benefits
for the DT project teams and the achievement of the strategic goals of the DT. Digital
transformation must consider how digital technological advances can change business models,
organizational structures and processes (Vial, 2019).
5. DIGITAL TRANSFORMATION OF THE ENVIRONMENT
Processes related to digital transformation take place in business activities, and are supported
by the development of information technologies. At the same time, as Butollo (2022)
emphasizes, digital transformation processes do not only affect the development of
technologies, but also economic and social processes directly caused by technological changes.
It can be concluded that changes in the technological structure and the development of
technological solutions directly affect social changes and the cultures of societies. According
to Jiang and Du (2022), there are three main factors that lead companies towards the digital
transformation process, namely changes in the macro environment, a high level of competitive
intensity (Kohli & Melville, 2019) and changing customer demands (Verhoef et al., 2021) . It
is the changes in the macro environment that are both the cause and the consequence of the
digital transformation of organizations. Digital transformation, in addition to directly leading
to sociotechnical changes, indirectly leads to broader socioeconomic changes (Ekbia et al.,
2015). Changes refer to organizations, but also to individuals in organizations and the
environment of organizations that adopt new technologies and changing the culture of societies.
We define digital transformation as a socioeconomic change that encompasses individuals,
organizations, ecosystems and societies, and is shaped by the adoption and use of digital
technologies (Dabrowska et.al. 2022). Imran (2021) highlights the results of scientific research
that proved that digital transformation encourages the purchase of products that customers
previously did not show interest in or considered unnecessary. On the one hand, digital
transformation opens up new markets for complementary products, and on the other hand, it
directly affects changes in habits and the sale of more and more services that go with the core
product. Social changes caused by digital transformation prove a strong connection between
the development of complementary products in the form of services and the demand of digitally
transformed societies for such products and services. Figure 3 shows the transformation of
organizations' income. At the beginning of the process, the only income comes from the sale of
physical products, and at the end of the process, that income would only make up one fifth of
the income. The digital transformation of business processes directly affects radical innovations
and the construction of entirely new industries. An example of this is the exponential growth of
the OnlyFans platform, where revenues in the last four years have grown at an average annual
rate of 369% (Lozić 2023). Digital transformation changes the culture of the organization, but
also society and the environment of the organization, which directly affects the models of value
creation. The development it encourages is in the direction of the development of new services
(servitization) (Kryvinska, Bickel 2020), which are directly related to the development of new
competitive advantages (Linde et.al. 2021). The wider adoption process at the industry level
proves the easier acceptance of changes in the industries and environments of creative industries
compared to old industries (Sivarman 2020). Digital transformation processes bring with them
some negative consequences for organizations and society, and the most significant impact is
on employees who are affected by the loss of jobs due to the digitization of processes. Such
processes are immanent in technological development and occurred in all phases of
Lozić, J. & Fotova Čiković, K. (2024). Digital transformation: The fundamental concept of transformation of
business activities. 107th International Scientific Conference on Economic and Social Development – Economic
and Social Survival in Global Changes, Zagreb, pp. 326-337. ISSN 1849-7535.
technological progress. Employees are worried about losing their jobs because digitization
leads to cost reduction and automation of production processes (Rampersad 2020, Cortellazzo
et.al. 2019), and all this leads to fatigue and problems with the mental health of employees
(Nadkarni, Prügl 2021). Digital transformation is a continuous process that leads to greater
business efficiency using advanced IT technologies.
6. CONCLUSION
Digital transformation is a process that has affected all types of production systems as well as
all pores of society and social relations. The development of cybernetics in the middle of the
last century opened a new horizon of industrial and social development. That what was a
possibility then, is now an inevitability, and there is no alternative to the digital transformation
of the process. Research and analysis of changes related to digital transformation processes are
divided into analysis of the transformation of technical systems and analysis of the
transformation of social systems. Regardless of which of these two processes scientists put more
emphasis on, today they are inseparable and interpenetrate each other. The process of digital
transformation, as a complete change of the management paradigm and income generation
model, is preceded by the stages of digitization and digital optimization. Digital optimization
is precisely the target point at which the organization achieves competitive advantages and tries
to maintain that position in relation to competitors for as long as possible in order to take
advantage of all the possibilities of cost optimization, i.e. the cost structure of the process. With
the digital transformation of the process and once established digital optimizations, they move
to a new business phase in which one part of the process is digitally transformed with all the
attributes that follow the digital transformation of the process, and other parts are transferred as
digital optimization from the previous phase. One of the ultimate goals of digital transformation
is the creation of new forms of monetization and the predominance of income from services
over income from the sale of physical products.
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