| A new generation of digital technologies,represented by the Internet,is driving significant change across industries,bringing challenges and opportunities to businesses.According to PwC’s 2017 Digital Index survey,88%of companies have explicitly incorporated digital production into their strategies.Under this trend,digital transformation has become an inevitable trend for business development,and long-established companies that have been passed down from generation to generation are no exception.At present,many long-established enterprises in developed countries have already empowered their business development through digital transformation,such as Coca-Cola,which has effectively improved sales efficiency and saved business costs through the use of document robots.However,many long-established enterprises in China have not yet adapted to the development of the digital economy,leading to an increasing rate of decline.For example,Quanjude has failed to use the Internet to collect customer preferences and evaluations in a timely manner and make adjustments to its specialties and prices,leading to a sharp decline in consumer reputation and damage to corporate revenue.Therefore,the digital transformation of China’s long-established enterprises is urgent.Digital transformation is easily misunderstood as a way for companies to improve their performance by adopting emerging technologies,but in fact,more than half of the companies in China,after adopting new technologies to implement the transformation,have performed less well than before the transformation or even suffered a closure crisis,especially for long-established companies with both economic and cultural unique values.The reason is that such enterprises are unable to effectively distinguish whether their existing business needs to be improved in combination with digital technology,and it is also difficult to clarify the specific improvement path,which is the key to the success of digital transformation.This paper is based on enterprise case study research,supplemented by theoretical research and combined with specific cases.Firstly,the theories related to old-established enterprises,digital transformation and enterprise value creation are sorted out and elaborated,which provide certain theoretical basis and ideas for the following research.Secondly,combining the characteristics of old-established enterprises and digital transformation,the impact path of digital transformation on the value of old-established enterprises is introduced from three types of factors:digital infrastructure capability,digital governance capability and digital ability to cross the chasm and trap,and its evolution mechanism is analyzed and summarized from four aspects:data elements,information resources,user experience and corporate relationships.Finally,the paper takes Luzhou Laojiao as an example and analyzes the company’s development history and the evolution process of digital transformation.It also provides an in-depth analysis of its financial data and development,explains the impact of digital transformation on Luzhou Laojiao’s value creation capability,and concludes that:digital transformation is crucial to the survival and development of old-established enterprises;in the process of digital transformation of old-established enterprises,enterprises improve their digital capabilities in order to create corporate value;resolving the contradictory relationship between inheritance and innovation in an appropriate way is the old-established enterprises One of the most important elements to be considered in the digital transformation process.Through the above research,this paper summarizes the general experience of such long-established enterprises in the context of the successful case of Luzhou Laojiao,which plays an active role in guiding the business transformation of similar enterprises. |
PDF Full Text Request