DIGITAL TRANSFORMATION IN THE NATURAL RESOURCES INDUSTRY: RETHINKING THE STRATEGIC APPROACHES
Abstract
This article examines digital transformation in the natural resources industry, focusing on strategic approaches, environmental sustainability, and production processes. The goal is to explore how digital technologies impact the sector, including energy, utilities, and mining, and to identify strategic approaches to digital transformation. Utilizing a comprehensive literature review and analysis of case studies, the article systematically examines existing research and industry practices to identify key concepts, successful strategies, and best practices. The main results highlight the importance of strategic planning, technology adoption, and change in organizational management in achieving digital transformation success. The article concludes that digital transformation offers significant opportunities for innovation and growth in the natural resources industry, while also presenting challenges related to strategic alignment and continuous improvement. The novelty of this work lies in its comprehensive analysis of digital transformation strategies, environmental impacts, and operational efficiencies, offering insights for industry practitioners and academics.
Keywords
Downloads
References
- Warner, K. S., & Wäger, M. (2019). Building dynamic capabilities for digital transformation: An ongoing process of strategic renewal. Long range planning, 52(3), 326-349.
- Zaernyuk, V. M., & Zhang, C. (2021). Digitalization as a new way to transform traditional production methods in the mineral resources complex. Financial Analytics: Problems and Solutions, 14(3), 244-262.
- Ghobakhloo, M., & Iranmanesh, M. (2021). Digital transformation success under Industry 4.0: A strategic guideline for manufacturing SMEs. Journal of Manufacturing Technology Management, 32(8), 1533-1556.
- Lazarenko, Y., Garafonova, O., Marhasova, V., & Tkalenko, N. (2021). Digital transformation in the mining sector: Exploring global technology trends and managerial issues. In E3S Web of Conferences (Vol. 315, p. 04006). EDP Sciences.
- Vial, G. (2021). Understanding digital transformation: A review and a research agenda. Managing digital transformation, 13-66.
- Chobitok, I. O. (2022). Strategic management of industrial enterprises in the context of digital transformation: a scientific and theoretical approach. Business Inform, (12), 120-126.
- Feroz, A. K., Zo, H., & Chiravuri, A. (2021). Digital transformation and environmental sustainability: A review and research agenda. Sustainability, 13(3), 1530.
- Ruan, T., Gu, Y., Li, X., & Qu, R. (2022). Research on the Practical Path of Resource-Based Enterprises to Improve Environmental Efficiency in Digital Transformation. Sustainability, 14(21), 13974.
- Nicolás-Agustín, Á., Jiménez-Jiménez, D., & Maeso-Fernandez, F. (2022). The role of human resource practices in the implementation of digital transformation. International Journal of Manpower, 43(2), 395-410.
- Digital transformation in energy: Achieving escape velocity. URL: https://www.mckinsey.com/industries/oil-and-gas/our-insights/digital-transformation-in-energy-achieving-escape-velocity
- Digital transformation in the energy and utilities industry. URL: https://blogs.sw.siemens.com/energy-utilities/2022/03/21/digital-transformation-in-the-energy-and-utilities-industry/
- Trend 8: Advancing the future of work. URL: https://www2.deloitte.com/xe/en/insights/industry/mining-and-metals/tracking-the-trends/2021/future-of-mining.html
- Learn how miners can deliver sustained outcomes, and the digital transformation path in the mining industry. URL: https://www.pwc.com/ca/en/industries/mining/new-digital-agenda-for-mining-companies.html