Article metrics

  • citations in SCindeks: [1]
  • citations in CrossRef:[1]
  • citations in Google Scholar:[=>]
  • visits in previous 30 days:38
  • full-text downloads in 30 days:35
article: 1 from 1  
Ekonomija: teorija i praksa
2017, vol. 10, iss. 1, pp. 80-90
article language: Serbian
document type: Professional Paper
published on: 27/07/2017
doi: 10.5937/etp1701080S
Creative Commons License 4.0
Digital economy and business process transformation: Challenges and risks
Visoka poslovna škola strukovnih studija Leskovac, Leskovac

e-mail: stojanovic.dragan@vpsle.edu.rs

Abstract

Market conditions in the modern business environment change very dynamically, which sets the task before organizations to properly and quickly respond to new challenges. Information and communication technologies have not only changed the internal organization, but also the way potential clients and customers communicate, collaborate and coordinate their activities. With that in mind, there is not only a need but also the obligation of organizations to make their business more efficient and to follow the new requirements imposed. One can say with certainty that the business conditions are constantly becoming more complex. Any stagnation is not and will not be rewarded with success in the future. Past investments in information technology without complete overall analysis, design and development of a system have not brought adequate results. This paper will highlight the possibility of significantly increasing the efficiency of operations by relying on the experience gained in previous operations of companies and the positive experiences of those who successfully meet the new challenges by introducing innovations in business and applying new IT solutions in the era of digital economy. We will also observe examples of the use of modern IT in the transformation of business processes, analyzing the trends as well as potential risks that can be expected in future growth and business development.

Keywords

References

*** (1997) Business process reengineering assessment guide [microform]. Gaithersburg, Washington, D.C: United States General Accounting Office-Accounting and Information Management Division
Dsouza, C., Williams, D. (2017) The Digital Economy. Bank of Canada Review, 5
Hammer, M., Champy, J. (1993) Reengineering the corporation: A manifesto for business revolution. Business Horizons, 36(5): 90-91
Johnson, M.W., Christensen, C.M., Kagermann, H. (2008) Reinventing Your Business Model. (cover story). Harvard Business Review, 86(12); 50-59
Kagermann, H., Österle, H., Jordan, J.M. (2010) Business model innovation and IT: global lessons in transformation. Hoboken, NJ: Wiley
Kagermann, H., Osterle, H., Jordan, J.M. (2011) IT-driven business models: global case studies in transformation. Hoboken, NJ
Kehal, H., Singh, V. (2005) Digital economy: Impacts, influences and challenges. Idea Group Inc, dostupno na: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.466.5065&rep=rep1&type=pdf, (17 April 2017)
Kliem, R.L. (2000) Risk Management for Business Process Reengineering Projects. Information Systems Management, 17(4): 66-68
Levy, S. (2006) The perfect thing how the iPod shuffles commerce, culture, and coolness. New York: Simon & Schuster, Paperbacks. on Management of Engineering & Technology 2008
Page, S. (2016) 12.1 business process management. in: Power of Business Process Improvement: 10 Simple Steps to Increase Effectiveness, Efficiency, and Adaptability, AMACOM - Book Division of American Management Association, 2nd Edition
Varian, H. (2016) Intelligent technology: As digital applications encroach on various aspects of daily life, the impact on the economy will help us live smarter and better. Finance and Development, 53(3); 6-9
Wong, W.P., Tseng, M., Tan, K.H. (2014) A business process management capabilities perspective on organisation performance. Total Quality Management & Business Excellence, 25(5-6): 602-617
Xiang, Z., Magnini, V.P., Fesenmaier, D.R. (2015) Information technology and consumer behavior in travel and tourism: Insights from travel planning using the internet. Journal of Retailing and Consumer Services, 22: 244-249