Volume 8, Issue 4, April – 2023 International Journal of Innovative Science and Research Technology

ISSN No:-2456-2165

Shifting Priorities: The Move from Digital

Transformation to Digital Corporate Governance
Dr. S. Rajalakshmi
Associate Professor
Head of the Department
Department of Criminal Law and Criminal Justice Administration
School of Excellence in Law,
The Tamil Nadu Dr Ambedkar Law University

Abstract:- The Meta trend of "digitization" and the digital transformation. The goal of such efforts is to achieve
associated digital transformation of social and economic efficiency and effectiveness through the optimization of
structures and processes are one central challenge for structures and processes, resulting in accelerated work
corporate development. Fundamental changes in the processes, increased concentration, and complexity of work
structures and processes of service provision, different activities.
and new Service offerings and changing customer
relationships require a fundamental Extension of the The primary focus of value creation is on achieving
management perspective in the direction of "digital efficiency and effectiveness through optimization, which
corporate management". For their functional fields of usually involves accelerating work processes and increasing
action, a far-reaching and continuous increase in the the concentration and complexity of work activities. With
degree of digitization can be assumed for the future. The regard to the range of services, the intelligent linking of
contributions from the areas of leadership and technological possibilities enables the realization of
organization, Human Resource management, marketing economic opportunities through new products and services.
and finance are combined. They show the large design Customer relationships also benefit from new
spectrum of digital corporate management as examples communicative possibilities (online and multichannel
and give concrete tips for problem solving in corporate marketing) and data-based optimization of target group
practice. orientation and individualized service offers.

I. INTRODUCTION The current and impending digitization-related

upheavals in the business world and society necessitate an
The digitization of the economy and society constitutes expansion of leadership perspectives and strategic planning
a formidable phenomenon, arguably the most significant efforts. Digitization is penetrating all managerial and
global environmental change in the present era. It assumes functional areas of companies, necessitating an overhaul of
an increasingly relevant role in the strategic development of the way companies are managed. Flexibility,
companies, as it constitutes a meta trend that deeply impacts individualization, and complexity of value-added and
the corporate world, fundamentally changing underlying marketing processes necessitate the mastery of increasingly
leadership perspectives. The digitization of resources, complex technological solutions, coupled with the need to
processes, and products heralds a growing immaterialization generate simple solutions to customer and operational
of business operations and is often referred to as "digital problems. Pioneering development directions include
transformation." Such changes impact the entire value chain agilization, individualization, lateralization, and
within the economic context, and their causes can be holocratization of leadership relationships and systems, with
attributed to both direct and indirect technological effects on self-organized network organizations being the most
the economy's framework conditions and structures, as well advanced.
as the emergence of entirely novel product and service
offerings. With respect to functional areas of corporate
management, the degree of digitization of research and
The use of new digital technologies is causing serious development, procurement, production, marketing, finance,
changes in the business environment and can be subsumed and controlling is continuously increasing. Against this
under the term "digital transformation." This phenomenon backdrop, "digital company management" is a management
impacts the entire value chain, as it entails the integration of development perspective and a consequence of digital
novel product development techniques, production processes transformation, representing an entrepreneurial coping
(Industry 4.0), and marketing/customer interaction strategy for the digitization of the economy and society.
strategies. The use of sensors, mobile communication, big Various functional fields of action are presented in this text,
data analytics, cloud computing, machine learning, artificial with the first thematic block discussing selected frameworks
intelligence, virtual and augmented reality, and other and fundamental aspects of digital transformation, followed
technological innovations are all significant components of by contributions from the areas of leadership and

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Volume 8, Issue 4, April – 2023 International Journal of Innovative Science and Research Technology
ISSN No:-2456-2165
organization, human resource management, marketing, and transformation, gamification is being used to influence the
finance. culture in a targeted manner. By using typical game
elements, incentives are created for employees to undertake
The digital transformation is a multifaceted certain actions. In this study, gamification measures
phenomenon that encompasses a range of complex changes. implemented by a company were digitally analysed, and the
One of the most salient aspects of this transformation is the perception and influence of work motivation were
growing availability of knowledge, particularly in the investigated. The findings of the study revealed that
domain of science. The second contribution, "Digital gamification was an effective culture-shaping tool for
Transformation and open access to research results in corporate management. The digital implementation acted as
Switzerland", delves into the issue of making research a uniform impetus and ensured transparency as a basis for
publications freely accessible in Switzerland through Open trust. By doing so, the desired culture of "eye-level" was
Access. The importance of basic and application-oriented developed, characterized by respect, tolerance, and co-
research cannot be overstated as it provides the impetus for determination. The positive impact of gamification measures
entrepreneurial innovations and serves as a cornerstone for was primarily observed in the intrinsic motivation and sense
prosperity in advanced economies. In this vein, the of togetherness of employees.
development tendencies observed in the digitization of the
research environment of Swiss companies are crucial signals The topic of cyber security has become increasingly
for future developments that will affect the university world. vital, especially in small and medium-sized enterprises, in
light of the digital transformation. The fifth contribution
Moreover, the market for research-based publications titled "Cyber security as a management task in Swiss SMEs.
and the business models for publishers active in this Challenges and opportunities in the course of digitization"
segment are currently undergoing fundamental changes due highlights this issue. Various studies have indicated that
to the impact of the digital transformation on working and SMEs recognize cyber security as a relevant field of action
communication methods of science. This transformation but do not sufficiently address it. The study defines this
facilitates extensive transparency and openness of research phenomenon as the "security paradox" and extensively
results, encapsulated by the terms "Open Science" and describes it through a multiple-case design study on Swiss
"Open Access", which stand for the opening of scientific SMEs. The study identifies its causes and provides practical
processes and making research results available. Swiss and recommendations for managers and decision-makers in
international programs and strategies that are supported by dealing with the challenge of cyber security brought about
funding institutions such as the Swiss National Science by digitization.
Foundation (SNSF) and scientific organizations such as
Swiss universities exist to promote Open Access for free The sixth contribution titled "Ambidextry – the
access to scientific publications. organizational tightrope act synergy between Exploration
and exploitation as a prerequisite for digital transformation"
Another fundamental aspect of the digital tackles the critical issue of organizational changeability,
transformation is the accelerated development towards the which is crucial for digital transformation. Rapidly changing
service society, which is highlighted by the three "Platform- conditions can render previously successful business models
based services: Services as a driver of social change". Peer- obsolete in just a few years. One of the causes of this
to-peer service platforms (P2P platforms) represent a situation is a lack of adaptability, which can be rooted in
distinct form of service platforms that enable current path dependency. Path dependency describes a situation
business models of the sharing economy. Given the current where past decisions strongly influence the effects of future
jungle of terms surrounding the sharing economy and decisions, leading to the possibility or necessity of new
service platforms, it is essential to clarify the necessary business models being unrecognized, missed, or their
terminology before discussing the aspects of social change. potential misjudged. To avoid path dependency, the concept
of organizational ambidexterity is crucial. Organizational
The emergence of P2P platforms is a consequence and ambidexterity refers to a company's ability to continuously
precondition of iterative interactions between social develop its core business while also exploring new avenues
structures and social actors, encompassing technical, social, of thinking and ensuring that changes in the surrounding
ecological, and economic aspects of social change. Based on system are recognized and opportunities utilized. This skill
this framework, opportunities and challenges are explored is essential for a company's survival, particularly in the
that P2P platforms present to society both currently and in context of digitization.
the future. It is important to note that many aspects of P2P
platforms present both opportunities and challenges that The gravity of the impact of digitization on work and
need to be evaluated and weighed accordingly. the people involved in it is a matter that necessitates prompt
attention and intervention from the realm of human resource
The fourth contribution titled "Gamification in management. This matter has been examined in article
companies. Influencing the corporate culture through game- seven, which delves into the transformation of work at the
typical elements" delves into the intriguing topic of the intersection of organizational structure and human resource
influence of gamification in shaping a company's values and management with a specific focus on administrative work
norms. As we all know, a robust corporate culture is vital for contexts. In light of this, companies and organizations are
a company's success. With the increasing trend of digital making changes to their existing work models and

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Volume 8, Issue 4, April – 2023 International Journal of Innovative Science and Research Technology
ISSN No:-2456-2165
introducing novel forms of digital collaboration. Such sentiments had significant predictive power for the stock
changes encompass a variety of aspects, such as working prices of both companies, allowing Twitter sentiments to
time models, employee organization, cooperative practices, predict stock market prices with a 13-hour lead time.
management strategies, and office space design. To gain
further insight into this phenomenon, a comparative case In the financial sector, cryptocurrencies have emerged
study was conducted on two prominent Swiss companies as a formidable challenge, compelling entrepreneurial
and one administrative unit within the federal government. newcomers to explore new market segments in an industry
The study involved an analysis of the current work models that has hitherto been elusive to them. The authors of the
utilized in office work contexts, with a view to exploring tenth post, "Cryptocurrencies. An Empirical-Qualitative
potential developmental trajectories. Among the key Analysis of Cryptocurrencies vs traditional currency
findings was that the current amalgam of traditional and system," attribute the advent of cryptocurrencies to the
agile working models is likely to evolve more toward financial crisis and the digital revolution. Cryptocurrencies
greater agility in a company-specific manner within the are designed to be an alternative to the traditional monetary
digital context. system, while also streamlining payment transactions. The
comparison between cryptocurrencies and the traditional
In the eighth contribution, "Digital Transformation and monetary system is centred on Bitcoin and Switzerland as a
Human Resource Management: Trends and Perspectives of business location. Empirical investigations were conducted
Future-oriented HR Work in Large Swiss Companies," the through qualitative surveys involving expert interviews in
field of human resource management in the digital landscape the area of monetary systems and payment transactions. The
is examined in its entirety, both as a subject and a catalyst of analysis focuses on trust, resilience, and simplification of
digital transformation. This encompasses strategically payment transactions.
significant changes, such as cloud computing, big data and
social media management, and mobility trends, which have Furthermore, the eleventh article, "The potential of
both indirect and direct effects on the operational design of Smart Contracts using an example from the Financial Sector
personnel work. This contribution adopts a theoretical and - Smart Rating," explores the potential of smart contracts
empirical approach to explore the significance and and block chain technology in assessing creditworthiness.
consequences of digitization for personnel management The article presents the principles of rating procedures,
within large Swiss companies. The primary focus is on which are based on smart contracts and block chain
presenting the results of a qualitative survey conducted technology. The authors also highlight how the financial
among sixteen HR managers from major Swiss companies industry can benefit from this technology by discussing the
spanning diverse economic sectors, as well as a global technological basics of block chain and smart contracts.
market-leading eHR software provider. This survey Traditional rating procedures and their actors are examined,
involved the development of a maturity model aimed at and possible solutions to overcome problems are presented.
delineating digitization based on eight dimensions of digital This use case, which is outside of traditional banking
change. Based on the findings of the survey, the Swiss services, demonstrates the potential of block chain
corporate landscape appears to be in a phase of development technology in opening up new business models that can
in relation to digitization, including the implementation fundamentally alter established processes and serve as
status of digital HRM approaches. However, it is critical for another mosaic for the disruption of the financial sector.
human resources departments not to remain complacent and
instead adapt to the digitization trend proactively, playing a In article twelve, "Success Factors for customer
more active role in the implementation of digitization acquisition with digital marketing using the example of the
strategies in the future. online marketing tool Google AdWords," the question of
efficient marketing is addressed. The overarching goal is to
For stock corporations and capital markets, stock increase sales, and digitization offers new opportunities for
market prices are a crucial financial parameter. Article nine, online marketing activities. Google AdWords is an
"Big Data Analytics: Analysis of Predictive Ability of important tool in digital marketing that enables companies to
Twitter Sentiments on the Development of the Share Price make their products and services visible to potential
of Technology Companies," brings together two crucial customers when they search on Google's search engine. The
aspects of the digitization trend, namely "big data" and identification of success factors when working with Google
"social media," with the issue of predictability of stock AdWords is a challenging task due to the fast pace of the
exchange prices. The study explores the extent to which topic and the complexity of the AdWords auction system.
social media data can predict changes in stock prices. To reveal possible success factors at the measure level, a
Specifically, the study focuses on the predictive ability of case study analysis was conducted involving experienced
Twitter messages related to a technology company and its experts in companies and other professionals who were
stock market price, based on two use cases, Facebook and asked about Google AdWords marketing.
Amazon. The analysis involves a sentiment analysis of
Twitter users' moods and their relationship to changes in the In today's digital era, a website that is not only modern
stock exchange price. The results of the study reveal a and user-friendly but also provides relevant content and
positive correlation between Twitter sentiment and the stock maintains a high relevance between keyword, ad, and
price of both companies. Moreover, with the help of landing page is a prerequisite for successful Google
Granger analysis, it was determined that the Twitter AdWords campaigns. The thirteenth article titled

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Volume 8, Issue 4, April – 2023 International Journal of Innovative Science and Research Technology
ISSN No:-2456-2165
"Augmented Reality as a decision-making aid when buying II. CONCLUSION AND SUGGESTION
furniture" explores the impact of Augmented Reality (AR)
on customers' purchasing decision-making process when Increased automation, data-driven decision-making,
buying furniture. The research aims to provide practical and and improved openness and responsibility are likely to
scientifically-based insights into an important driver of characterise the future of digital transition to digital
digital transformation. To achieve this, the study focuses on corporate governance. There will be a greater need for
examining the influence of an AR app in the furniture digital governance frameworks to help handle the
industry. The findings reveal that the AR app provides complexity of the digital world as companies continue to
valuable support to users in their purchasing decision- adopt digital transformation. Utilizing technology and data
making process. However, it is important to note that the analytics will improve corporate decision-making and
app is not an independent channel and only unleashes its supervision while ensuring that organisations adhere to
benefits in interaction with other channels and tools. In pertinent laws and regulations. The growing adoption of
particular, the exchange with third parties presents artificial intelligence (AI) and machine learning (ML)
significant development potential and opportunities to technologies will be one of the main forces behind digital
enhance the customer experience. A cross-dealer approach business governance. Many governance procedures,
would provide clear customer added value for the AR app. including risk management, compliance monitoring, and
Nevertheless, further research is necessary due to the performance tracking, will be automated by these
feedback effects between changing customer interaction and technologies for companies. The use of blockchain
technology development. technology to increase transparency and accountability will
be a key component of digital business administration.
In the fourteenth article, "Online subscription Block chain technology can be used to produce immutable
marketing. Successful Marketing Mix for the Subscription logs of business choices and activities that can be audited
Marketing of Consumer Goods," the focus is on the and confirmed in real time by stakeholders. Overall, moving
marketing of online subscriptions for consumer goods, to digital corporate governance will probably make
which is considered a lucrative niche market in e-commerce. company processes more effective, efficient, and
Despite the development of new concepts for this market by transparent. However, in order to successfully manage the
established companies and start-ups, the success factors complicated and quickly changing digital environment,
have remained unclear. This article aims to identify the key businesses will also need to make investments in new tools
factors of the curated online subscription market that as well as acquire new knowledge and skills.
promote sales success. By exploring the marketing mix
approach, a qualitative inventory based on four case studies Businesses should think about putting the following
is conducted to provide insights into the key factors for recommendations into practise to improve digital transition
successful subscription marketing. The results offer relevant to digital corporate governance: First and foremost, they
information for other online subscription providers. need to create a transparent digital governance strategy that
explains their goals, top priorities, and execution schedule.
The fifteenth article, "Social Influencer. An analysis of This plan should take regulatory and compliance standards
selected visual and auditory styles of successful social into account and be in line with the general company
influencers on YouTube," examines the relatively new field strategy. Second, putting money into digital governance
of social influencing in online marketing. Visual tools like AI, ML, block chains, and data analytics can help
communication has become increasingly important in the automate governance processes, enhance decision-making,
era of digitization, and social influencers have taken and increase openness and responsibility. Thirdly,
advantage of this to build a large community. The article companies should create a governance culture that
investigates the factors that lead to social influencers encourages moral conduct, openness, and responsibility
building "communities" of several thousand to millions of through stakeholder involvement, training, and
people, who view them as role models and opinion leaders, communication. Fourth, encouraging cooperation and
and ultimately lead to the formation of a relationship. The communication between IT, legal, compliance, and other
results reveal that social influencers promote "interaction" pertinent areas can aid in ensuring that digital governance is
by activating what is said, and they utilize self-revealing and implemented successfully. Last but not least, companies
appreciative effects to realize storytelling that increases should routinely audit, analyse, and review their governance
authenticity and credibility and promotes the formation of a procedures in order to make the required improvements to
relationship. Factors such as gestures, increased speaking their digital governance structure. By putting these
volume, fast speaking rate, and facial expression "joy" are recommendations into practice, companies can strengthen
crucial to achieving a competent and credible appearance of their structure for digital administration, which will improve
social influencers while triggering feelings of happiness in decision-making, compliance, and stakeholder faith.
the addressee. The findings provide qualitative-exploratory
insights into the styles of social influencers and their The studies presented in the context of digital
implementation on the social media channel YouTube, transformation demonstrate the vast potential for designing
offering a deeper understanding of the relationship between digital corporate management fields. Empirical primary
YouTubers and their community. surveys form the basis of the analyses that aim to derive
design-related information. The field of digital company
management offers significant development potential for

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Volume 8, Issue 4, April – 2023 International Journal of Innovative Science and Research Technology
ISSN No:-2456-2165
future research activities and implementation in business
practice, especially given the development dynamics of the
underlying digitization topic.

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