Strategies, Capabilities, and Business Models in the Digital Landscape

Purpose: This doctoral dissertation comprises four interrelated papers that collectively explore various facets of contemporary business challenges in the context of digital transformation, including strategies, dynamic capabilities, digital business models, and managerial cognition. This work aims to offer insights into the complex landscape of business dynamics in the contemporary digital era. To accomplish such a purpose, this doctoral dissertation analyzes different factors related to the external environment (e.g., the shaping nature of hostile competitive environments) and the firm’s internal environment (e.g., strategic orientation, managerial cognition, and digital technology implementation and application). Methodology: The research encompasses different methodologies, including a single case study based on field observations and quantitative analyses (e.g., structural equation models, regression analyses, and necessary condition analysis). These methodological approaches and underlying techniques are applied to different samples of manufacturing firms, data-driven SMEs, and multinational large-size enterprises. Findings: The findings underscore the complexity of change at the intersection of digital transformation and strategy. While an external focus on digital technologies is crucial for competitiveness, innovation processes necessitate integrating advanced tools like big data analytics into strategic practices. Furthermore, digital alignment, which involves the coordinated application of digital technologies to provide strategic decision-making and operational support, significantly enhances business model efficiency, especially when coupled with strategic flexibility. Additionally, the research demonstrates that firms fostering entrepreneurial orientation are better positioned to maximize the impact of big data analytics capabilities on their strategic capabilities. At a more granular level, orchestrating managers play a crucial role in effectively driving digital transformation while preserving intergenerational balance within their organizations. Originality: This dissertation contributes to the scholarly discourse about digital transformation by addressing contemporary business challenges and opportunities in the digital age. The papers collectively bridge gaps in different literature streams by considering strategies, business models, disruptive technologies, external environments, dynamic capabilities, and managerial cognition in the context of digital transformation.