Digital Transformation and Change Management: Challenges and Opportunities
Authors-DR.G.S.Anusha, Vani.N
Keyword-Digital Transformation, Change Management, Organizational Change, Employee Adoption, Leadership Commitment, Digital Maturity, Transformation Failure
Digital Transformation has been increasingly recognized as a key strategic priority among organizations across the globe. However, most of these digital transformation initiatives tend to fail because of insufficient considerations made in change management. In this regard, the current study will be centered on discussing the issues and opportunities involved in digital transformation, emphasizing the human aspect of organizational change. The analysis conducted based on several studies and industrial reports indicates that 70% of digital transformations fail to achieve their goals, resulting in about $2.3 trillion of annual global financial loss to organizations. The study highlights some major findings concerning five different industries including Retail, Manufacturing, Finance, Technology, and Healthcare. According to the analysis performed, it has been revealed that the Technology and Finance industries have the best success rates for transformation initiatives mainly due to effective leadership and adaptive culture. In this study, a combined approach of change management, consisting of both planned and emergent change models, is proposed using quantitative analysis of 20% and 28% improvement in project completion rate and risk reduction respectively.
Doi-[https:/doi.org/10.5281/zenodo.20828003]