Exploring Digital Strategy as a Business Management and Transformation Tool in Developing Countries: The Nigerian Experience

Abstract

Despite valuable business opportunities and solutions that digital technologies offer, studies show that many business leaders have yet to explore the potential of digital solutions to manage and transform their businesses to capture more value. Through a semi-structured interview with business leaders and managers in Lagos, Nigeria, and content analysis, this paper explored how business leaders may leverage the potency of digital strategies to manage and transform business operations in developing nations like Nigeria to obtain more value. The result provided a distinctive insight into the dynamics around digital strategy adoption in business and the inclusive effects, evidencing that managing and transforming business operations in developing nations is achievable by adopting soft and hardware digital solutions at all levels of the business process. This paper advances the discussion on digital strategy adoption in business and recommends a paradigm shift of businesses in developing countries to a digitally evolved business construct to streamline processes, unlock new opportunities, and benefit from the potency of digital solutions. The paper underscores the government and other stakeholders' roles in driving digital strategy adoption in developing nations' businesses. The recommendation in this paper could be rewarding to influencing change in the process and management of business operations in developing nations, creating an opportunity for theoretical expansion and implementation of digital strategies for business management and transformation to achieve operational efficiency and sustainability objectives.