WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 16, 2019
Modelling R&D Strategy to Fulfil Customer Demands through Digital Transformation
Authors: , ,
Abstract: Digital transformation enables companies to build their innovation strategies for implementing various digitalization tools in their processes to meet current and future customer demands. Today’s market is fed by several customer trends such as personalization of products, environmental awareness through product design, responsiveness and proactivity of the brand. These customer demands create challenges for companies. Digital transformation offers advantageous tools to fulfil the challenges. This study proposes a framework for investigating optimum innovation strategy decisions of companies among available digitalization tools. Further in this work, a decision model is developed, and an illustrative example is given with current customer demand which is gathered by a survey with sales specialist. The decision model clarifies the strategic decision of digitalization investments of the companies, the case study is conducted in automotive industry. The decision model could be applied for any other sector which demands to conduct customer-driven innovation through digital transformation
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Pages: 525-531
WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 16, 2019, Art. #59