Decoding Digital Business Strategies: Insights From Five Years of Research

Abstract

The contemporary business environment is characterized by its dynamic nature, driven by rapid technological advancements, necessitating enterprises to adapt their operational frameworks continually to sustain competitiveness and relevance. Consequently, the formulation of a robust digital business strategy becomes imperative, serving as a strategic necessity to effectively navigate the intricacies of the digital era. Given the swift pace of digital metamorphosis and the accelerated proliferation of emerging technologies, notably artificial intelligence, a systematic examination of scholarly literature on digital business strategies is indispensable to discern current trends and inform decision-makers promptly. This investigation endeavors to delineate prominent research clusters and influential figures within the realm of digital business strategy, elucidate fundamental concepts underpinning digital business strategies, and thereby construct a comprehensive framework encapsulating the foundational principles of this domain. This study conducts a comprehensive bibliometric analysis of Web of Science publications pertaining to Digital Business Strategy within the Business and Management disciplines, focusing on works indexed over the preceding five years utilizing the Biblioshiny application. The findings underscore a burgeoning interest in this subject, a proliferation of research collaboration, and a significant internationalization of the research landscape. Noteworthy contributions emanating from countries such as China, the United Arab Emirates, Italy, Jordan, and the United Kingdom underscore the ascent of new frontrunners in the contemporary business arena and highlight the transformative influence of digital technologies in reshaping global business competitiveness. Central themes in contemporary research on digital business strategies include business implementation (performance), recognition of the innovative essence of changes and the imperative for innovation, the pivotal role of marketing, and opportunities for SMEs. Fundamentally, these inquiries are anchored in technology, innovation, impact assessment, and understanding the imperative for flexibility in management practices. The key components of a successful digital business strategy include a focus on innovation and management alongside considerations of performance and impact. Digital business strategies are intimately intertwined with digital technologies, marketing methodologies, social media platforms, business model innovations, and the optimization of supply chain operations. The insights gleaned from this research endeavor could serve to guide business decision-makers in navigating the intricacies of contemporary digital strategy formulation and offer valuable direction for future research inquiries within this domain.