What Should Be Focused on When Digital Transformation Hits Industries? Literature Review of Business Management Adaptability
Patrick Sik-Wah Fong and
Daniel Yamoah Agyemang
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Yi Zhang: Department of Building and Real Estate, HK Polytechnic University, Hong Kong 999077, China
Patrick Sik-Wah Fong: Department of Building and Real Estate, HK Polytechnic University, Hong Kong 999077, China
Daniel Yamoah Agyemang: Department of Building and Real Estate, HK Polytechnic University, Hong Kong 999077, China
Sustainability, 2021, vol. 13, issue 23, 1-0
How traditional industries adapt to the digital economy to achieve sustainable development has attracted scholars and practitioners. Exploring the concept of BMA (business management adaptability) can not only theoretically explain adaptive micro-operation mechanisms but can provide practical guidance for enterprises to form adaptability. To date, although a lot of effort is being spent on detecting the adaptive construction elements, refining the BMA to specific management levels, a comprehensive review combines adaptability construction elements and specific levels have not yet been formed. In this trial, this paper innovatively utilizes a hybrid method that consists of a bibiometric and structural literature review to conduct a comprehensive theoretical study of relevant literatures from 1970 to 2020. By displaying current research conclusions and their defects, this study combines adaptability construction elements and innovatively forms a multi-level BMA framework. In this framework, this paper reveals the importance of setting up performance evaluation systems that focus on corporate profitability, probing and counterpoising relations between internal and external environments. Finally, this paper provides recommendations for practitioners about how to build their own competitive advantages when the digital economy hits the global world.
Keywords: business management adaptability; dynamic environment; digital economy; hybrid literature review; multi-level theoretical framework (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:13:y:2021:i:23:p:13447-:d:695313
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