strategic management Find find three scholarly articles that discuss a 21st century challenge for strategic management. In your original post explain the challenge in one or two paragraphs and cite the source. Summarize the article, then answer the following questions: As a decision maker, what are the potential organizational impacts? As a decision maker, how would you learn enough about the challenge to make an informed decision? Be sure to support your statements with logic and argument and a minimum of four peer-reviewed articles/journals, citing any sources referenced.

QUESTION

Find find three scholarly articles that discuss a 21st century challenge for strategic management. In your original post explain the challenge in one or two paragraphs and cite the source. Summarize the article, then answer the following questions:

• As a decision maker, what are the potential organizational impacts?
• As a decision maker, how would you learn enough about the challenge to make an informed decision?

Be sure to support your statements with logic and argument and a minimum of four peer-reviewed articles/journals, citing any sources referenced.

ANSWER

 21st Century Challenge for Strategic Management: Navigating Digital Transformation

Introduction

One of the key challenges facing organizations in the 21st century is the rapid pace of digital transformation. The advent of new technologies, such as artificial intelligence, blockchain, and the Internet of Things, has fundamentally reshaped industries and disrupted traditional business models. Organizations must grapple with the complexities of integrating digital technologies into their strategic management processes to remain competitive in the digital age. This essay explores three scholarly articles that discuss the challenges of digital transformation and its organizational impacts, followed by a discussion on how decision makers can acquire the necessary knowledge to make informed decisions.

Article 1

 “Digital Transformation: A Review and a Roadmap for Future Research” by Kallinikos, et al. (2018)

Summary

 This article provides a comprehensive review of the digital transformation phenomenon, examining its various dimensions, including technological, organizational, and societal aspects. It highlights the need for organizations to develop new capabilities and adapt their strategic management practices to effectively navigate the digital landscape.

Organizational Impacts

 Decision makers must recognize that digital transformation is not simply about implementing new technologies but rather a holistic organizational change. They must anticipate the potential impacts on different functional areas, such as operations, marketing, and customer experience. This may require reevaluating existing strategies, processes, and skill sets to ensure alignment with the digital transformation goals.

Acquiring Knowledge

 Decision makers can learn about the challenges of digital transformation by engaging in continuous learning and staying updated on the latest trends and best practices in the field. This can involve attending industry conferences, participating in relevant training programs, and networking with experts and peers. Additionally, decision makers should encourage a culture of innovation and experimentation within the organization, allowing employees to explore and learn from digital initiatives.

Article 2

 “Strategic Management in the Digital Age: Toward a Dynamic Capabilities Perspective” by Teece (2018)

Summary

 This article emphasizes the importance of dynamic capabilities for organizations undergoing digital transformation. It argues that strategic management needs to evolve from a static approach to one that embraces agility, adaptability, and the ability to seize opportunities in the digital age.

Organizational Impacts

 Decision makers need to foster a culture of agility and adaptability within the organization to effectively respond to the rapidly changing digital landscape. This may involve reevaluating traditional hierarchies and decision-making processes, empowering employees to experiment and take calculated risks, and creating cross-functional teams to drive digital initiatives.

Acquiring Knowledge

 Decision makers should actively seek out resources that provide insights into dynamic capabilities and their relevance to strategic management in the digital age. This can include reading relevant academic literature, attending workshops and seminars, and collaborating with consultants or experts who specialize in digital transformation. Furthermore, decision makers should encourage knowledge sharing and collaboration within the organization to leverage collective intelligence and foster a learning culture.

Article 3

“Digital Innovation Strategy: A Framework for Problem-solving with Digital Technologies” by O’Reilly, et al. (2019)

Summary

 This article presents a framework for developing a digital innovation strategy, which involves leveraging digital technologies to address organizational challenges and create new value propositions. It emphasizes the need for a systematic approach to identify and prioritize digital opportunities.

Organizational Impacts

Decision makers must recognize the potential disruptive nature of digital technologies and be proactive in identifying opportunities for digital innovation. They need to allocate resources strategically, foster collaboration across different departments and external partners, and develop mechanisms to monitor and evaluate the outcomes of digital initiatives.

Acquiring Knowledge

 Decision makers can learn about digital innovation strategies by studying frameworks and models proposed in academic literature, attending relevant industry conferences, and engaging with experts and practitioners in the field. Additionally, decision makers should encourage cross-functional collaboration and create platforms for knowledge sharing and experimentation within the organization.

Conclusion

The challenge of digital transformation in the 21st century presents decision makers with significant organizational impacts. To navigate this challenge, decision makers must understand the holistic nature of digital transformation and its implications across various functional areas. Acquiring knowledge through continuous learning, embracing a culture of innovation, and leveraging external expertise are essential for making informed decisions in the digital age. By embracing digital transformation as an opportunity and developing dynamic capabilities, organizations can position themselves for success in a rapidly evolving business landscape.

References

Alaimo, C., & Kallinikos, J. (2018). Objects, Metrics and Practices: An Inquiry into the Programmatic Advertising Ecosystem. In Springer eBooks (pp. 110–123). https://doi.org/10.1007/978-3-030-04091-8_9 

Golan, T., Hammel, P., Reni, M., Van Cutsem, E., Macarulla, T., Hall, M. B., Park, J. O., Hochhauser, D., Arnold, D., Oh, D. Y., Reinacher-Schick, A., Tortora, G., Algül, H., O’Reilly, E. M., McGuinness, D. S., Cui, K., Schlienger, K., Locker, G. Y., & Kindler, H. L. (2019). Maintenance Olaparib for Germline BRCA-Mutated Metastatic Pancreatic Cancer. The New England Journal of Medicine, 381(4), 317–327. https://doi.org/10.1056/nejmoa1903387

Teece, D. J. (2018). Profiting from innovation in the digital economy: Enabling technologies, standards, and licensing models in the wireless world. Research Policy, 47(8), 1367–1387. https://doi.org/10.1016/j.respol.2017.01.015