Corporate Sustainability Model Based on Digital Transformation, Strategic Renewal, and Value Creation

Document Type : مقاله مستخرج از پایان نامه

Authors

1 Master of Business Management, Faculty of Management and Economic, Tarbiat Modares University, Tehran, Iran

2 Assistant Professor, Faculty of Management and Economic, Tarbiat Modares University, Tehran, Iran

3 Professor, Faculty of Management and Economic, Tarbiat Modares University, Tehran, Iran

Abstract

Today, the emergence of the concept of digital transformation means making fundamental changes in the approaches to production and offering products and services, which has affected the survival and sustainability of businesses; On the other hand, due to the important role of companies as being responsible to the society, corporate sustainability has been much appreciated by researchers. This research aims to study the relationship between digital transformation and the sustainability of information technology companies by explaining the role of strategic renewal and value creation. This research is applied in terms of purpose and descriptive correlation in terms of nature. The statistical population of the research is knowledge-based manufacturing companies of type two in the field of information technology, and the statistical sample includes 247 companies selected by available sampling. The data collection tool is a questionnaire whose reliability has been confirmed with Cronbach's alpha of 0.766. Furthermore, to analyze the data, a quantitative method, structural equation modeling in the form of Smart PLS software have been used. The results indicate the impact of digital transformation at the 95% confidence level on the sustainability of companies in the information technology field, and the mediating role of strategic renewal and value creation was also confirmed at the 95% confidence level in the relationship between digital transformation and corporate sustainability. Strategic renewal also has a positive and significant impact on value creation.

Keywords


  1. El Hilali, W, & El Mansouar Smart companies: digital transformation as the new engine for reaching sustainability. In The Proceedings of the Third International Conference on Smart City Applications. Springer, Cham. 2018; 132-143.
  2. Horlacher A, & Hess T. What does a Chief Digital Officer do? Managerial tasks and roles of a new C-level position in the context of digital transformation. In 2016 49th Hawaii International Conference on System Sciences. IEEE. 2016; 5126-5135.
  3. Dyllick, T., & Muff, K. Clarifying the meaning of sustainable business: Introducing a typology from business-as-usual to true business sustainability. Organization & Environment, 2016; 29(2), 156-174.
  4. Dyllick, T., & Hockerts, K. Beyond the business case for corporate sustainability. Business strategy and the environment, 2002;11(2), 130-141.
  5. Agarwal R, Helfat CE. Strategic renewal of organizations. Organization science. 2009 Apr;20(2):281-93.
  6. Colabi, A. M., & Khajeheian, D. Strategic renewal in corporate entrepreneurship context: A multi-case study. In Competitiveness in Emerging Markets, Springer, Cham. 2018; 315-337.
  7. Mielcarek, P. The strategic renewal process–the challenge of creating and capturing value. Management Sciences. Nauki o Zarządzaniu, 2018;23(4), 28-34.
  8. Freudenreich B, Lüdeke-Freund F, Schaltegger S. A stakeholder theory perspective on business models: Value creation for sustainability. Journal of Business Ethics. 2020;166(1):3-18.
  9. توکلی، سیما؛ خدادادحسینی، سیدحمید، سهرابی، شهلا. تاثیر ویژگی‌های هوش‌تجاری بر رقابت‌پذیری شرکت‌ها با نقش میانجی کارآفرینی محوری، بازارمحوری و نوآوری در کسب‌وکار،  نشریه علمی راهبردهای بازرگانی ، 1399. 17(15):159-178.
  10. فلاح، محمدرضا؛ کاظمی، زهره؛ شناسایی پیشران‌های مؤثر بر موفقیت شرکت‌های دانش‌بنیان با تأکید بر نقش هوشمندی کسب‌وکار ،نشریه علمی راهبردهای بازرگانی،1399. 16(14):72-75.
  11. نوری‌، مژگان, شاه حسینی، محمدعلی، شامی زنجانی، مهدی، عابدین، بابک. طراحی چارچوب مفهومی رهبری تحول دیجیتال در سازمان‌های ایرانی،مدیریت و برنامه ریزی در نظام های آموزشی، 1398. 12(2):211-242.
  12. Hess T, Matt C, Benlian A, Wiesböck F. Options for formulating a digital transformation strategy. MIS Quarterly Executive. 2016;1;15(2).
  13. متاجی نیموری، فاطمه، حاج آخوندی، بابک، تاثیر فناوری دیجیتال بر جذابیت برند شرکت‌ها،فصلنامه رویکردهای پژوهشی نوین در مدیریت و حسابداری، 1400.  65(3):10-19.
  14. Capitani, G. CIO’s: Drivers or Followers of Digital Transformation? In CIOs and the Digital Transformation, Springer, Cham. 2018; 69-83.
  15. حسینی‌نسب، سیدمهدی؛ َشامی زنجانی، مهدی، قلی پور، آرین. ارائه چارچوب وظایف مدیر ارشد دیجیتال به‌عنوان حکمران تحول دیجیتال در سازمان. فصلنامۀ علمی مطالعات منابع انسانی، 11(1), 1-25.
  16. Garcia S, Cintra Y, Rita de Cássia SR, Lima FG. Corporate sustainability management: a proposed multi-criteria model to support balanced decision-making. Journal of Cleaner Production. 2016; 10;136: 181-96.
  17. Hostettler, Y., & Van Maurik, B. Gamification for Sustainability-An experts' perspective on the opportunities and challenges of gamification as a tool to foster sustainability practices within organisations. 2020.
  18. Kantabutra, S., & Ketprapakorn, N. Toward a theory of corporate sustainability: A theoretical integration and exploration. Journal of Cleaner Production, 2020 ;270, 122292.
  19. Ashrafi, M., Adams, M., Walker, T. R., & Magnan, G. How corporate social responsibility can be integrated into corporate sustainability: a theoretical review of their relationships. International Journal of Sustainable Development & World Ecology, 2018;25(8), 672-682.
  20. Hortovanyi, L., Szabo, R. Z., & Fuzes, P. Extension of the strategic renewal journey framework: The changing role of middle management. Technology in Society, 2021; 65, 101540.
  21. Albert, D., Kreutzer, M., & Lechner, C. Resolving the paradox of interdependency and strategic renewal in activity systems. Academy of Management Review, 2015;40(2), 210-234.
  22. کلابی امیرمحمد، کریمی راد سیمین. نوسازی استراتژیک کارآفرینانه در دوران پساکرونا؛ شرکت های فعال در صنعت گردشگری. مطالعات مدیریت گردشگری (مطالعات جهانگردی). 1399. 15(ویژه نامه):308-285.
  23. شراعی، فاطمه؛ کلابی، امیرمحمد؛ خدادادحسینی، سیدحمید.تاثیر جایگاه بازاریابی‌کارآفرینانه بر پایداری شرکت‌های دانش‌بنیان با تاکید بر نوسازی استراتژیک. توسعه کارآفرینی، 1399. 13(3). 421-440.
  24. Kähkönen AK, Lintukangas K. Key dimensions of value creation ability of supply management. International Journal of Operations & Production Management. 2018; 3(1): 1-23.
  25. Mehera, A. R. Shared value literature review: implications for future research from stakeholder and social perspective.  Mgmt. & Sustainability, 2017; 7, 98.
  26. خردیار، سینا؛ حقیقت شهرستانی، مهدی، حقیقت شهرستانی، مریم. خلق ارزش بر اساس سطوح فرصت های سرمایه گذاری. پژوهش های حسابداری مالی و حسابرسی (پژوهشنامه حسابداری مالی و حسابرسی), 1398 . 11(42 ), 179-201.
  27. Matt, C., Hess, T., & Benlian, A. Digital transformation strategies. Business & information systems engineering, 2015; 57(5), 339-343.
  28. Warner, K. S., & Wäger, M. Building dynamic capabilities for digital transformation: An ongoing process of strategic renewal. Long Range Planning, 2019; 52(3), 326-349.
  29. Phetphongphan, W., Ussahawanitchakit, P., & Pratoom, K. Strategic Renewal Capability and Firm Sustainability: An Empirical Investigation of Software Businesses in Thailand. Journal of Accountancy and Management, 2018; 10(3), 51-68.
  30. Boratynska, K. Impact of digital transformation on value creation in Fintech Services: An innovative approach. Journal of Promotion Management, 2019;25(5), 631-639.
  31. Matarazzo, M., Penco, L., Profumo, G., & Quaglia, R. Digital transformation and customer value creation in Made in Italy SMEs: A dynamic capabilities perspective. Journal of Business Research, 2020; 123, 642-656.
  32. Lampikoski, T., Westerlund, M., Rajala, R., & Möller, K. Green innovation games: Value-creation strategies for corporate sustainability. California Management Review, 2014; 57(1), 88-116.
  33. Dyduch W. Value creation and capture in entrepreneurial organizations. Problemy Zarządzania. 2016;14(3 (62)):11-23.
  34. Westerman, G., Bonnet, D., & McAfee, A. Leading digital: Turning technology into business transformation. Harvard Business Press.
  35. Khomba, J. K., & Vermaak, F. N. Towards corporate sustainability: Equitable wealth allocation to all participating stakeholders, African Journal of Business Management, 2013;6(9):3470-3481.
  36. Klammer, A., Gueldenberg, S., Kraus, S., & O’Dwyer, M. To change or not to change–antecedents and outcomes of strategic renewal in SMEs. International Entrepreneurship and Management Journal, 2017;13(3), 739-756.
  37. Larsson, L., Stahre, J., Warrol, C., & Rönnbäck, A. Ö. An assessment model for production innovation: The Program Production2030. Procedia Manufacturing, 2018; 25, 134-141.
  38. Fornell C, Larcker DF. Evaluating structural equation models with unobservable variables and measurement error. Journal of marketing research. 1981 Feb;18(1):39-50.