The Impact of Digital Transformation on Strategic Decision-Making Processes - Empirical Evidence from Listed Companies
Abstract
This study explores the impact of digital transformation on the strategic decision-making processes in listed companies, utilizing a mixed-methods approach to gather comprehensive insights. The quantitative phase involved structured surveys administered to 100 executives and key decision-makers, analyzing variables such as digital technology adoption, strategic decision outcomes, and organizational performance. The qualitative phase included semi-structured interviews and case studies to provide deeper contextual understanding. Regression analysis indicated that demographic factors like marital status, gender, qualification, and age had minimal impact on strategic decision-making. However, the qualitative data highlighted the significance of digital literacy, technological integration, and organizational culture in enhancing decision-making processes. The findings revealed that all identified challenges associated with digital transformation are significant, with respondents consistently recognizing their importance. Key challenges include technological adoption, organizational culture, and strategic alignment. The study emphasizes the need for comprehensive digital literacy and training programs for executives, integration of advanced data analytics and AI technologies, and fostering a culture of innovation and adaptability. Additionally, robust cybersecurity measures are recommended to protect sensitive data and ensure the integrity of digital processes. The conclusions drawn from this study suggest that while digital transformation poses several challenges, it also offers substantial opportunities for improving strategic decision-making. By addressing these challenges through targeted strategies and leveraging the potential of digital tools, listed companies can enhance their strategic capabilities and maintain a competitive edge. This research contributes to the understanding of digital transformation’s impact on strategic decision-making and provides actionable insights for practitioners and policymakers.
Keywords
Digital Transformation, Strategic Decision-Making, Listed Companies, MixedMethods, Organizational Performance