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The Journey Towards Harnessing Frontier Technologies: Becoming a Digital Firm With Digital Capability and Dexterity
Abstract
As the digital era unveils, it has become a must for many business firms to redesign their existing business processes to utilize the frontier technologies to become competitive. However, “digital transformation” has received less attention in prior literature, and no clear pathway to a successful digital transformation has been provided. This chapter builds on 12 in-depth interviews with top-level decision-makers of Sri Lankan business firms to develop a digital transformation model. The findings reveal that the solid foundation of a digital business firm relies on a “digital-first” mindset and three success pillars reflecting unique organizational characteristics (e.g., digital business transformation strategy, workforce, and firm resources) that collectively enable digital capability and dexterity. This chapter further argues that digital capability and dexterity are the critical hallmarks of a truly digital firm in a digital economy where technologies continue to improve exponentially.
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