Digital transformation of business models: from concepts to implementation

Abstract

This study aims to build a roadmap for the digital transformation of business models, including the phases and the activities needed to create a new Digital Business Model (DBM).

To achieve this goal, an extensive literature review was conducted to under-stand the terminology, definitions, and concepts of Digital Transformation, Business models, and Business Model Innovation. The study also includes the most popular business model innovation and digital transformation approach-es presented in recently released books and scientific articles.

Semi-structured interviews were conducted with digital transformation experts and consultants to learn from their experiences while leading the digital trans-formation of business models’ projects; this presented the opportunity to un-derstand the approaches they adopt and the challenges they encounter in this process.

The final result of the study is a comprehensive roadmap that includes the phases and the activities that digital transformation leaders and executive managers should carry out to manage a digital transformation process for the company’s business model.