Abstract:

Changes in demands and expectations of a customer, revaluation of products and services, shifts in the cooperation, communication and collaboration approach are some of the factors pushing organizations from almost every industry to engage in the process of development and execution of digital transformation strategy. The concept of digital transformation is often interpreted as the process of improving and transforming business processes with the help of emerging technologies. However, the concept of digitalization is much broader and is not necessarily associated solely with enhancement of organization’s existing operations. In fact, new innovative business models powered by the latest technological advances have completely changed balance of power in some industries. Uber in public transportation and Airbnb in hotel industry are the most striking and discussed examples.