Introduction

In the context of the rapid digitalization of the global economy, traditional companies are faced with the need to reshape their business processes and strategies in order to remain competitive. In recent years, digital transformation has become not only an important tool for optimizing operations but also a key factor for sustainable business development and growth. Digital transformation refers to the integration of modern digital technologies into the operational, managerial, and strategic processes of an organization to enhance its flexibility and adaptability to changing market conditions.

Traditional companies, whose approaches and infrastructures were established before the digital economy era, face particular challenges when adapting to new demands. They often lack digital maturity, experience with big data, and struggle with cultural and organizational changes. In this context, innovative business strategies aimed at improving customer orientation, integrating modern technologies, and enhancing operational flexibility become critical for successful adaptation.

The aim of this study is to analyze the adaptation strategies employed by traditional companies in the context of the digital economy and to identify the key success factors for their transformation. The research includes a comparative analysis of innovative approaches and digitalization strategies, as well as an examination of the barriers and factors influencing the success of business digital adaptation.

Main part. Stages of digital transformation and its impact on traditional companies

Before delving into a detailed analysis of digital strategies, it is important to consider the various levels of digital maturity that companies go through during their transformation process. These levels represent a sequential shift from simple digitization of tasks to comprehensive changes in the entire business model. The table 1 provides a structured overview of these stages – digitization, digitalization, and digital transformation.

Table 1

Strategic Imperatives according to phases of digital transformation [1]

Digital transformation is a comprehensive process of integrating information technologies, restructuring organizational frameworks, and changing work methods to enhance efficiency and competitiveness. It goes beyond the adoption of new technologies, involving a transformation of internal corporate culture, processes, and business models, which, in turn, requires the company to adapt to new conditions. For traditional companies, digital transformation is a necessary step to avoid falling behind more competitive and agile digital players in the market.

A critical phase in the digital transformation process involves the integration and influence of advanced technologies on operational workflows. The implementation of technologies such as Big Data, robotic process automation (RPA), artificial intelligence (AI), and cloud computing enables companies to improve business operation efficiency, optimize supply chains, and forecast demand fluctuations (fig. 1).

Figure 1. Technologies with the greatest potential to attract investments within the framework of digital business transformation (coefficient) [2].

For companies, using big data analytics allows more accurate forecasting of customer needs, enabling businesses to adapt their offerings and services accordingly. The most significant changes occur in process automation and improving customer interactions. At the same time, digital transformation also demands changes in organizational structure and corporate culture. To successfully integrate technologies, companies must overcome resistance to change, related to established workflows, and implement a culture of continuous learning and experimentation. Developing flexibility and adaptability within the organization becomes a crucial component of successful digital transformation. This involves revisiting traditional management approaches, increasing the role of agile teams, and ensuring quick responses to changes in the external environment. In this context, corporate support for innovation and initiatives from company leadership is of paramount importance [3].

A fundamental shift for traditional companies is transitioning from a traditional business model to a digital platform model. Whereas companies once centered their businesses around production capacities and physical goods, the focus in the digital economy shifts to creating platforms that integrate a variety of services and partners. Platform models allow companies to expand their business boundaries, access new markets, and create additional revenue streams through partner networks and ecosystems.

Digital transformation also leads to significant changes in how companies interact with customers. In the digital age, companies are leveraging various communication channels with customers, such as mobile apps, social media, and chatbots, greatly enhancing user experience and customer satisfaction. Traditional companies, needing to adapt to this trend, must implement tools for analyzing user preferences, automate customer service, and offer personalized solutions. An important aspect is increasing customer orientation through the integration of new digital solutions.

Equally important is the issue of the sustainability of digital transformations. The process of digitalization may face various risks, including technical challenges (such as insufficient data security, difficulties in integrating new technologies) and human factors (resistance to change, lack of skilled specialists). To successfully overcome these risks, it is necessary not only to use modern technologies but also to have a clear change management strategy that ensures a smooth transition to new working methods.

Overview of innovative business strategies in the digital economy

The digital economy opens up new opportunities for businesses while presenting demands for innovative management and strategy approaches. For traditional companies, successful adaptation to the digital environment largely depends on the proper selection and implementation of new business strategies.

One of the most popular innovative strategies is the hybrid model. In the context of digital transformation, many traditional companies are forced to combine their classic operational processes with new digital solutions. The hybrid model allows companies to leverage the best aspects of both traditional and digital business models. This involves using online channels to expand the market while maintaining physical points of customer interaction, satisfying the needs of various audience segments. For instance, large retailers like Walmart combine online sales with the option to pick up goods in stores, providing customers with convenience while retaining the importance of offline presence [4]. Hybrid strategies are especially relevant in the service and retail sectors, where effectively combining digital and physical interactions with customers is essential.

Another important strategy is data orientation. In the digital economy, data becomes an invaluable resource, and its effective use allows companies to make informed strategic decisions, optimize processes, and better understand customer needs. The core of this strategy is the collection, processing, and analysis of Big Data. By using analytical tools and machine learning algorithms, companies can predict changes in consumer preferences, identify new market trends, and make data-driven decisions. For traditional companies, transitioning to a data-driven strategy requires significant investments in analytical technologies and employee training, making the implementation of such strategies a challenging yet highly beneficial long-term step [5].

Platform business models represent another key strategy in the digital economy, widely adopted across industries. Platform models involve creating ecosystems where participants (suppliers, buyers, partners) can interact and share resources through a shared digital platform. These platforms not only provide access to goods and services but also create new business channels that can expand a company’s market presence. Traditional companies in logistics or finance, for example, can adopt this model to build ecosystems that expand their partner networks and increase their market share.

An additional innovative strategy is the integration of AI and automation. These technologies not only enhance internal company processes but also significantly improve customer service quality. AI is used for marketing personalization, improving forecasting accuracy, and automating routine tasks. Process automation helps reduce costs, speed up operations, and minimize human errors [6].

Equally important is differentiation through innovative sales and marketing channels. The digital economy offers companies a unique opportunity to interact with customers through various channels, such as mobile apps, social media, and web platforms. This approach allows businesses to create personalized offers, enhance the customer experience, and actively engage new audiences. For instance, companies can use social media to promote products and engage with customers in real time through chatbots or targeted advertising campaigns, greatly increasing reach and improving customer engagement. This is a crucial success factor in a highly competitive market.

Factors of success and barriers in the adaptation of traditional companies

Adapting traditional companies to the digital economy involves numerous factors that can influence the success or failure of transformation. The implementation of innovative business strategies requires changes at all levels, from corporate culture to operational processes and technological infrastructure. However, there are both enabling factors for successful adaptation and barriers that may slow down or even derail the process.

One of the most critical success factors of digital transformation is the active role of leadership. Leaders must not only participate in the change process but also clearly formulate a digital adaptation strategy, motivate employees, and ensure organizational flexibility. Successful companies often have leadership that understands the importance of digital transformation and actively invests in technology development. For example, the CEO of Goldman Sachs is actively involved in the development and implementation of the firm’s strategic vision, including digital transformation and technology investments [7]. It is important for leadership to support this strategy at all levels, integrating it into corporate culture rather than treating it as a one-off project.

Equally important for successful adaptation is employee training and development, as well as the creation of a culture capable of embracing digital innovations. Overcoming resistance to change at the employee level is a key task when implementing digital technologies. Companies must invest in developing their employees’ skills by teaching them new digital tools and methods. It is important not only to bring in external specialists but also to nurture internal talent.

A key success factor is having modern technological infrastructure capable of integrating new solutions. Digital transformation requires companies to not only update their IT systems but also create a flexible architecture that allows for quick adaptation of new technologies. The use of cloud solutions, AI, and data analytics requires modern data storage systems, processing and analytics platforms, as well as secure communication channels. Traditional companies that have relied on outdated IT solutions for years may encounter difficulties when integrating new technologies, increasing the cost and duration of transformation. Companies like General Electric have overcome this barrier by upgrading their technological infrastructure and building platforms for big data processing, significantly improving manufacturing processes and customer interaction [8].

Despite the success factors, several serious barriers can hinder the digital adaptation process. One of the main barriers is resistance to change from employees and management, which is often linked to deeply rooted traditions and established business processes. Traditional companies that have long operated under a proven model may perceive digital transformation as a threat to their established practices. This conservatism, especially in large organizations, often leads to delays in decision-making, prolonged technology implementation processes, and ultimately low effectiveness in transformations.

Another significant barrier is the lack of skilled personnel. Digital transformation requires experts with competencies in new technologies such as AI, big data, and cybersecurity. In the face of fierce competition for highly qualified talent, traditional companies may struggle to attract the necessary specialists. This is also related to the fact that traditional industries often lack sufficient qualifications among existing employees, requiring additional efforts in training and developing human resources.

Conclusion

Digital transformation is not just a technological update, but a strategic shift that changes fundamental aspects of doing business. For traditional companies accustomed to stable business processes and structures, this transformation represents both a challenge and a significant opportunity for growth and enhancing competitiveness.
The key factor for successful digital transformation is a company’s ability to combine technological innovations with cultural and organizational changes. The integration of modern technologies such as AI, big data, and automation enables companies to optimize operational processes, improve customer interactions, and create new business models. However, this process requires clear leadership strategies, investment in employee development, and decision-making flexibility.

The future of traditional companies in the digital economy depends on their ability to adapt and leverage the benefits of new technologies. Digital transformation is not a temporary phenomenon, but a key element of long-term success.