Study On The Influence Of Digital Transformation On Business Performance

The rapid development of information technology has led to the emergence of digital technologies such as cloud computing,big data,artificial intelligence,5G,AI,and the Internet of Things.These technologies are changing the world economy,driving the development and popularization of the digital economy.The digital economy is gradually becoming a new driving force and core of economic development,and countries around the world are actively promoting digital transformation and strengthening the construction of the digital economy.In this policy background and technological environment,digital transformation of enterprises in China has become a trend and a must-do task for business development.At the same time,in order to improve the international status and competitiveness of the manufacturing industry,and transform China from a manufacturing power to a manufacturing powerhouse,China has formulated and implemented the "Made in China 2025" strategic policy.Xi’an Shaangu Power Co.,Ltd.,as a leading enterprise in the turbine machinery industry,actively carries out digital transformation under the guidance and support of policies,using digitalization to empower the industry,enhance the company’s comprehensive strength and market competitiveness,improve its operational status,and provide strong impetus for enterprise development.In recent years,domestic and foreign scholars have focused on digital transformation,conducting ample empirical verification on the path,mechanism,and impact of digital transformation,but research on the specific contents and business performance after transformation is relatively lacking.Therefore,this article takes Xi’an Shaangu Power Co.,Ltd.as the research object,deeply explores the impact principles and effects of digital transformation from three perspectives: "path","impact mechanism" and "effect",and conducts specific analysis and research on the digital transformation path and business performance.Firstly,combining with the current policy background and industry trends of digital transformation,this article clarifies the specific purpose and significance of the research,reviews relevant literature,summarizes the theoretical basis and specific research ideas of the study,and based on this,analyzes the driving force behind Shangu Power’s transformation and the impact mechanism of its digital transformation on enterprise performance.Secondly,based on the analysis of the different dimensions and difficulties of current digital transformation,this article further analyzes the specific implementation process of Shangu Power’s digital transformation.Then,through financial performance analysis and non-financial performance analysis,the article compares and analyzes the changes in Shangu Power’s performance before and after digital transformation,and measures the effects of its digital transformation.Finally,through the case study of this article,it is believed that digital transformation can have a positive impact on Shangu Power’s profitability,debt repayment ability,operational ability,growth ability,and management ability,but it may bring certain financial risks.Based on the research results,this article proposes relevant suggestions for other enterprises in digital transformation: enterprises must understand national policies,industry trends,and other information before digital transformation,and establish a matching digital transformation framework based on their own development situation.Enterprises need to formulate specific digital transformation plans,pay attention to data-driven approaches,and establish a sound data collection and management mechanism.In addition,enterprises need to strengthen digital cultural construction,focus on the development of technological innovation capabilities,and promote the realization of digital transformation.