Abstract

Digital transformation, which is an inseparable initiative of our digital age, and digital readiness are closely intertwined concepts that underpin the evolution of digital businesses. Digital transformation refers to the integration of digital technology across all aspects of a business, ranging from products and services to processes and business models, fundamentally altering how a digital business operates and proposes value to its stakeholders. However, the success of such transformation efforts heavily depends on the digital readiness of the organization. Digital readiness encompasses the organization's ability to adapt to and leverage digital technologies effectively, including its infrastructure, processes, workforce skills, and cultural mindset.
A digitally ready business not only possesses the necessary technological infrastructure (or tries to gain them) but also cultivates a culture of innovation, transformation and agility. It empowers its workforce with different skills, knowledge and competencies required to navigate the digital landscape and embrace emerging technologies. Furthermore, digital readiness entails the capacity to anticipate and respond to changing business ecosystem, market dynamics and customer expectations swiftly. Ultimately, businesses that prioritize digital readiness are better positioned to capitalize on the opportunities presented by digital transformation, driving growth, efficiency, and competitiveness in today's fast-paced digital age.