BUSINESS TRANSFORMATION: ACCELERATING BUSINESS GROWTH IN THE DIGITAL AGE

Abstract

This paper explores and analyzes some of the crucial points of business transformation in the fast-paced digital age, emphasizing the focus on its role in how it can help accelerate business growth during this technological era. With the current innovation continuing to evolve rapidly and the accelerating market growth, organizations shifted toward surviving mode by any means possible. Companies face unprecedented challenges and opportunities, and many organizations are increasingly turning to business transformation strategies to adapt, innovate, and thrive in the ever-changing digital landscape. The COVID-19 pandemic has also significantly transformed the landscape of commerce in retail business, with approximately 70-80% of decision-makers now favoring remote or self-service methods for making purchases (Mattila, Yrjölä, & Hautamäki, 2021), which led to many changes and adaptations for companies for them to grow. This paper particularly underscores the significance of the business transformation concept, with a focus on two factors; the first is an agile and adaptive organizational culture, and the second is effective change management and leadership, which these two can drive accelerated growth and sustainable success for traditional retail business. This thematic paper uses a qualitative research methodology and examines a case study of Decathlon, a traditional French sports retailer who was recently has undergone a business transformation and continues to grow its business. The paper also draws insights from a wide range of scholarly literature. The insights garnered from this research can serve as a valuable guide for business leaders looking to drive their organizations toward increased growth and competitiveness in the digital era.