Assessing the Potential for Digital Transformation

Tatiana Corejova and Roman Chinoracky
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Tatiana Corejova: CEE Institute, Ningbo University of Technology, Ningbo 315211, China
Roman Chinoracky: The Faculty of Operation and Economics of Transport and Communications, University of Zilina, Univerzitna 8215, 010 26 Zilina, Slovakia

Sustainability, 2021, vol. 13, issue 19, 1-15

Abstract: Historically, new technologies have always increased the efficiency of production processes. Production process efficiency increases productivity. With the growth of productivity, there is usually an increase in sales and profit. Today’s world is mainly influenced by digital technologies. The digitization of production processes leads to the digital transformation of the business and natural economy sectors. If, like other technologies in the past, the effects of digital technologies are associated with a growth in efficiency, productivity and thus also revenues and profits, the aim of this article is to propose a model to assess the potential of a digital transformation from a macroeconomic perspective. The proposed model, which was based on a composite indicator expressing the potential for digital transformation, was quantified for a certain period and for a selected sample of countries. The potential for digital transformation can occur in any country, regardless of the purchasing power of its population and GDP per capita. We can assume that the economic benefits of digital technologies are obvious. Businesses operating in any country innovate and are driven by digital technologies. This is also reflected in employment. New workers who know how to work with digital technologies are needed. Therefore, the results of the assessments and the proposal itself serve as a basis for national policy makers to create national strategies for digital transformation.

Keywords: digital technologies; digitization; digitalization; digital transformation; digital economy; potential of digital transformation (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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