Al ub, Yamin Abu; Sánchez-Cañiza es, Sand a Ma ía
A icle
Dynamic capabili ies and digi al ans o ma ion: Towa d
s a egic planning in he digi al age - E idence om
Pales ine
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Sugges ed Ci a ion: Al ub, Yamin Abu; Sánchez-Cañiza es, Sand a Ma ía (2025) : Dynamic capabili ies
and digi al ans o ma ion: Towa d s a egic planning in he digi al age - E idence om Pales ine,
Adminis a i e Sciences, ISSN 2076-3387, MDPI, Basel, Vol. 15, Iss. 1, pp. 1-28,
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Ci a ion: Al ub, Y. A., &
Sánchez-Cañiza es, S. M. (2025).
Dynamic Capabili ies and Digi al
T ans o ma ion: Towa d S a egic
Planning in he Digi al
Age—E idence om Pales ine.
Adminis a i e Sciences,15(1), 21.
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admsci15010021
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A icle
Dynamic Capabili ies and Digi al T ans o ma ion: Towa d
S a egic Planning in he Digi al Age—E idence om Pales ine
Yamin Abu Al ub and Sand a M. Sánchez-Cañiza es *
Business O ganiza ion Depa men , Uni e si y o Co doba, 14071 Co doba, Spain; yamen_abu [email p o ec ed]
o [email p o ec ed]
*Co espondence: [email p o ec ed]
Abs ac : The concep o digi al ma u i y has gained p ominence in he con ex o digi al
ans o ma ion. I e e s o an o ganiza ion’s abili y o e ec i ely adap o changing en-
i onmen s using digi al echnologies. A he same ime, he dynamic capabili ies o an
o ganiza ion play a c ucial ole in main aining a compe i i e ad an age. These capabili ies
allow o ganiza ions o in eg a e, build, and econ igu e compe encies in esponse o ma ke
dynamics. Despi e empi ical e idence suppo ing he impac o dynamic capabili ies on
compe i i e ad an age, he e emains a need o explo e he speci ic mechanisms d i ing
his ela ionship. Mo eo e , in adi ional indus ies expe iencing digi al dis up ion, unde -
s anding digi al ma u i y as an in e media e ou come becomes essen ial. This s udy ocuses
on he Pales inian inancial sec o and in es iga es he signi icance o digi al ma u i y in
he con ex o dynamic capabili ies. P ima y da a we e collec ed h ough an online ques-
ionnai e su ey, and a model was es ima ed h ough a SEM-PLS me hodology. The esul s
highligh a s ong ela ionship be ween dynamic capabili y and compe i i e ad an age.
Thus, digi al ma u i y plays a c ucial ole in enhancing s a egic planning e iciency h ough
he implemen a ion o dynamic capabili ies.
Keywo ds: dynamic capabili ies; digi al ma u i y; digi al ans o ma ion; s a egic plan-
ning; compe i i e ad an age
1. In oduc ion
The Sus ainable De elopmen Goals (SDGs) a e global benchma ks o p og ess o-
wa d a be e wo ld ha p omo e economic g ow h and enhance he e ec i eness and
quali y o essen ial se ices as na ions emb ace digi al ans o ma ion. This includes Pales-
ine. People, companies, and coun ies ha e ne e been mo e elian on echnology han
hey a e now. By add essing bo lenecks in go e nmen policy, he enabling en i onmen ,
and e-se ice adop ion and u iliza ion, he “Digi al Pales ine” e o seeks o expedi e Pales-
ine’s digi al ans o ma ion p ocess. The pu pose o sus ainable economic de elopmen
is o achie e many goals simul aneously. I hi s i s a ge s ac oss h ee ypes o sys ems,
economic, social, and biological, o sa is y p esen demands and p o ec he capaci y o
coming gene a ions o mee hei own needs (Abad-Segu a & González-Zama ,2021).
Se e al ac o s and s akeholde s om all socie al sec o s mus wo k oge he o pa e
he way o a Digi al Pales ine. The e o e, he Pales inian people a e cu en ly collabo-
a ing closely wi h pa ne s o de elop he no ion o “Digi al Pales ine” and ha e been
explo ing many di e en pa hs o p omo ing his digi al e olu ion. To acili a e a digi al
e olu ion ha bene i s all sec o s o socie y, he goal in ol es combining he di e se e o s
and expe iences o he public and co po a e sec o s, people, ci il socie y, and de elop-
men pa ne s. I should inco po a e all indus ies and concen a e on he beha io al
Adm. Sci. 2025,15, 21 h ps://doi.o g/10.3390/admsci15010021
Adm. Sci. 2025,15, 21 2 o 28
shi s ha come alongside digi iza ion, in addi ion o he echnology componen s, o all
pa ies in ol ed.
The majo i y o co po a e execu i es ha e made he s a egic goal o digi al ans-
o ma ion hei p ime ocus. To wha do hey owe his p eoccupa ion? Inc easingly, his
ques ion has a s aigh o wa d answe ; he implemen a ion o digi al ans o ma ion has
eme ged as a nea ly impe a i e se o ini ia i es and a p ima y unc ional a ea o con-
ce n o many “business- o-consume ” and “business- o-business” execu i es (Singh e al.,
2020). The p ospec o bo h ad an ages and isks is boundless. Accele a ed en i onmen al
ola ili y, complexi y, and unp edic abili y a e a di ec esul o he p e alence o digi al
echnology (Loonam e al.,2018). E en hough many “digi al ans o ma ion” ini ia i es
do no succeed (Ba y Libe e al.,2016) and b ing he demise o mo e han hal o he
companies ha a emp i , expe s say digi al dis up ion is only jus beginning (Amini e al.,
2018). This age o ola ili y has led o enewed a en ion o one o managemen ’s mos
undamen al ques ions. Wha se s dis inguish success ul businesses om hose ha ail in
he mids o changing en i onmen s?
To exp ess how well businesses can adjus o oday’s as -changing wo ld, he e m
“digi al ma u i y” has ecen ly become a p e equisi e o esea ch on digi al ans o ma ion
(Kane,2019). Acco ding o Vial (2019), he s a egic ans o ma ion o capabili ies le s
leade ship g asp how digi al ma u i y allows companies o achie e a leg up in business
unde s anding ha is a compe i i e ad an age in oday’s en i onmen demands. This is
no jus a di e en se o esou ces a he disposal o companies bu also a undamen ally
di e en way o ende ing hem aluable (Teece e al.,1997). Acco ding o Manioudis and
Me am elio akis (2022), sus ainable de elopmen and digi al ans o ma ion a e inex ica-
bly in e wined. When o ganiza ions apply digi al echnologies, he esul is almos always
inc eased ope a ional e iciency, o en coupled wi h a su ge in inno a ion (many would say
“enabled” by digi al ech). And he e is mo e. G ea e anspa ency (a digi al byp oduc )
means a be e accoun abili y. Combine hese de elopmen s and you ha e a much mo e
sus ainable o ganiza ion, leading o he changed wo ld we wan o see. O ganiza ions can
na iga e he complexi ies o con empo a y p oblems and s ee owa d a sus ainable u u e
by emb acing digi al ans o ma ion s a egies ha pu sus ainabili y on and cen e .
The li e a u e o e s abundan ac ual e idence demons a ing ha capabili ies a e
essen ial o de elopmen and sus ainabili y (Dø ing & Goode ham,2008). This is pa -
icula ly alid in he con ex o high- equency ma ke condi ions (Jiao e al.,2013;Li &
Liu,2014). Despi e p e ious esea ch (Zhou e al.,2019) inding medium- e m ou comes,
a con inuing in e es exis s ega ding he mul iple ac o s a ec ing i m-le el capabili-
ies (Fang & Zou,2009;Pezeshkan e al.,2016). Coun less o ganiza ions lack capi al and
cu ing-edge echnology. This sho coming can, howe e , s imula e inno a ion, nudging
businesses owa d de eloping locally ele an solu ions ha a e also cos -e ec i e. Fo
ins ance, P ahalad and Ha (2005) desc ibe how some companies inno a e o se e he
poo while also se ing hei own bo om line. They allege ha poo people a e wo h
se ing and make a compelling case o why we should no w i e hem o . Typically,
i ms in de eloped na ions eap he bene i s o supe io in as uc u e, enhanced inancing
oppo uni ies, and cu ing-edge echnologies, all o which can be used o imp o e and g ow
exis ing capabili ies. Hel a and Pe e a (2003) desc ibe how he a ailabili y o esou ces can
ha e a powe ul e ec on he “dynamic capabili ies” ha i ms de elop and use. De eloped
and esou ce-limi ed coun ies di e in he ways hey app oach dynamic capabili ies. O
cou se, his is a e y gene al s a emen . Some big Wes e n companies a e no pa icula ly
good a being dynamic, while some small i ms in de eloping coun ies ha e mas e ed
he a and way o being dynamic in hei ma ke . And being dynamic is he only way o
su i e being esou ce-limi ed i you a e no a comple e minimalis . On he o he hand,
Adm. Sci. 2025,15, 21 3 o 28
companies in de eloped coun ies make be e use o esou ces, and hey ha e access o
ad anced echnologies and a skilled labo o ce. These asse s enable hem o cons uc
comp ehensi e dynamic capabili ies. In his con ex , dynamic capabili ies in ol e e ining
exis ing p ac ices and augmen ing ma ke esponsi eness. The e o e, dynamic capabili ies
a e being de eloped apidly in Pales ine’s inancial sec o . Howe e , his de elopmen
is happening in an essen ially unde de eloped con ex . Thus, a p esen , he inancial
inclusion ha dynamic capabili ies can p o ide is meaning ul. Bu hei impac can po en-
ially be much la ge because o hei powe o d i e e iciency, a ac in es men , p omo e
inno a ion, and enable much be e decisions.
One aspec ha de ines he cu en co po a e en i onmen is he eme gence o digi al
echnologies. Looking a e ec i e digi al ans o ma ion, he success ul aspec s o digi al
change in he success ul pa s o you o ganiza ion, and he agile capabili ies ha a e
necessa y o su i al du ing a digi al uphea al p obably leads o he clea e concep ion o
his p ocess. This is in pa because digi al ans o ma ion means su i ing a adical swing
in how uphea al a ec s he way a company conduc s business and se es i s cus ome s.
A company wi h digi al ma u i y can success ully execu e digi al ans o ma ion. Buil
in o his amewo k is an unde s anding o he dynamics o capabili y. Fo a company
o achie e digi al ma u i y, i mus ha e some o he in e media e ou comes o a digi al
ans o ma ion. And ye , despi e i s g ea academic and manage ial signi icance, he e has
been li le schola ly ocus on he digi al ma u i y sca old in he amewo k o he se ice
sec o expe iencing dis up ion, wi h mos esea ch concen a ing on adi ional indus ies.
Coun less o ganiza ions lack capi al and cu ing-edge echnology. Dynamic capabili ies
a e s a egic op ions o enew ope a ional capabili ies in unce ain en i onmen s, hey
enable i ms o gain a compe i i e edge by sensing and seizing changes and oppo uni ies,
an ea ly inding om ou wo k is ha dynamic capabili ies enhance cus ome demand
esponsi eness and ope a ional lexibili y (He e al.,2023). Bo h “dynamic capabili ies”
and “digi al ma u i y” signi ican ly in luence “compe i i e ad an age” in a a o able
di ec ion. We ound ha digi al ma u i y signi ican ly in luences how much e ec dynamic
capabili ies ha e on compe i i e ad an age. In ano he sense, we also ound ha digi al
ma u i y signi ican ly in luences how much digi al dynamics and hei impac on he
indus y con ex can deg ade he pe o mance o dynamic capabili ies. This sho coming
can, howe e , s imula e inno a ion, nudging businesses owa d de eloping locally ele an
solu ions ha a e also cos -e ec i e. Fo ins ance, P ahalad and Ha (2005), desc ibes
how some companies inno a e o se e he poo while also se ing hei own bo om line.
He alleges ha poo people a e wo h se ing and makes a compelling case o why we
shouldn’ w i e hem o . Typically, i ms in de eloped na ions eap he bene i s o supe io
in as uc u e, enhanced inancing oppo uni ies, and cu ing-edge echnologies, all o
which can be used o imp o e and g ow exis ing capabili ies. Hel a and Pe e a (2003)
desc ibe how he a ailabili y o esou ces can ha e a powe ul ac ion on he “dynamic
capabili ies” ha i ms de elop, use. The de eloped and esou ce-limi ed coun ies di e in
hei ways o app oaching dynamic capabili ies. O cou se, his is a e y gene al s a emen .
Some big Wes e n companies a e no pa icula ly good a being dynamic, while some small
i ms in de eloping coun ies ha e mas e ed he a and way o being dynamic in hei
ma ke . And being dynamic is he only way o su i e being esou ce-limi ed i you a e no
a comple e minimalis . On he o he hand, companies in de eloped coun ies make be e
use o esou ces, and hey ha e access o ad anced echnologies and a skilled labo o ce.
These asse s enable hem o cons uc comp ehensi e dynamic capabili ies. In his con ex ,
dynamic capabili ies a e ocused on e ining exis ing p ac ices and augmen ing ma ke
esponsi eness. The e o e, dynamic capabili ies a e being de eloped apidly in Pales ine’s
inancial sec o . Ye , his de elopmen is happening in an essen ially unde de eloped
Adm. Sci. 2025,15, 21 4 o 28
con ex . Thus, a p esen , he inancial inclusion ha dynamic capabili ies can p o ide is
meaning ul. Bu hei impac can po en ially be much la ge because o hei powe o
d i e e iciency, a ac in es men , p omo e inno a ion, and enable much be e decisions.
This s udy aims o del e in o and dissec a esea ch scena io ha is speci ically appli-
cable o he Pales inian inancial sec o . This esea ch employs an empi ical design based
on su eys o explo e he ollowing esea ch ques ion: Why is digi al ma u i y signi ican
o es ablishing a linkage wi h dynamic capabili ies, compe i i e ad an age, and he inan-
cial sec o ? These ques ions a e wha his in es iga ion in o he ma e seeks o esol e,
con ibu ing o he cu en body o wo k ega ding digi al ans o ma ion and dynamic
capabili ies; mo eo e , ou wo k o e s impo an insigh s o manage s in inancial se ices.
We endea o o u nish hese insigh s o help indus y leade s unde s and and na iga e he
linkage among digi al ma u i y, dynamic capabili ies, and compe i i e ad an age wi hin
hei o ganiza ions.
2. Theo e ical F amewo k
In line wi h Teece e al. (1997), “a company’s can be ou lined wi h dynamic capabili y
as i s capaci y o e icien ly combine, augmen , and mold in e nal and ex e nal p o iciencies
o eac o swi ly e ol ing si ua ions”. Seen h ough he lens o pa h dependence and
ma ke posi ioning, dynamic capabili ies sugges an o ganiza ion may be able o de elop a
new so o compe i i e edge (Ba e o,2010). The idea o dynamic capabili ies has been
used o e alua e i ms wo king in a ious sec o s (Neill e al.,2007;Teece e al.,1997) and
i ms’ a emp s o in e na ionalize (Wang & Ahmed,2007); u he esea ch has examined
i s applicabili y o indus y associa ions. This s udy aims o answe some impo an ques-
ions a ising om in o ma ion de iciencies. How do di e en s akeholde s in an indus y
iew s a egic plans o he indus y’s u u e? Is i possible o heo e ical p inciples o
use dynamic capabili ies o manage he g ow h o a sus ainable indus ial s uc u e? We
belie e ha de eloping a dynamic pic u e o an indus ial o ganiza ion can inc ease he
possibili y o c ea ing a aluable heo e ical ounda ion ha can assis p ac i ione s in
building long- e m indus ial o ganiza ions. The iew ha is based on esou ces is mos
o en acknowledged as he mos salien explana o y amewo k o unde s anding he
o igins o i ms’ compe i i e ad an age. Unde s anding he dynamic capabili y pe spec-
i e, which concen a es on how con ex ac o s in luence wha a i m does and how i
achie es i s objec i es, may lead one o see i as ep esen ing a mo e alid, i no mo e
powe ul, explana o y cons uc o wha de e mines a i m’s o unes a mo e lexible and
less s ingen a ian o he esou ce-based model, as i in oduces mo e leeway in he
a ionali y and balance assump ions (Schilke e al.,2018) based on e olu iona y p inciples
o economics (Hel a & Win e ,2011). I s main ocus is on how ou ine and ope a ional
capabili ies (including dynamic ones) a e go e ned by high-le el ou ine p ocesses (such as
alliance, p oduc and p ocess inno a ion, and s a egic planning) o c ea e and ans o m
o ganiza ional asse s. This pe spec i e began o challenge he dynamics o s a egy bu
ocused p ima ily on he con en o s a egy and a oided examining he speci ic p ocesses
and ac i i ies ha gene a e capabili ies, ocusing ins ead on how hey a e used and ex-
ploi ed a he o ganiza ional le el. To unde s and he o igin, de elopmen , and unde lying
social (and po en ially causal) p ocesses and mechanisms o any hing, o ganiza ional-le el
capabili ies mus be linked o ac i i ies and in e ac ions a bo h pe sonal and collec i e
le els. This is essen ial o any analysis o he dynamics o s a egy.
The e a e some common cha ac e is ics be ween digi al ans o ma ion me hods. The
sha ed cha ac e is ics can be classi ied in o ou g oups as ollows: echnological imple-
men a ion, alue-deli e y al e a ions, s uc u al modi ica ions, and inancial ma e s. A
company’s echnological mindse di ec ly in luences how success ully i inco po a es new
Adm. Sci. 2025,15, 21 5 o 28
echnologies as well as how hey use hem in e e yday ope a ions. Essen ially, i de ails
he s a egic alue o IT o he business and he company’s echnological aspi a ions o
he u u e. A company mus decide whe he i aims o become a ma ke leade by us-
ing ad anced echnologies and se ing whe he i is es ablishing i s own echnological
s anda ds o elying on es ablished ones. The conso ium plays a c i ical pa in judging
compliance and o e seeing he adop ion o hese s anda ds wi h ega d o elying on
exis ing s anda ds and iewing echnology as a ool ha suppo s business ope a ions.
Al hough being a he o e on o echnology can make a company mo e compe i i e,
allowing he company o se s anda ds ha o he s ollow, i can also expose he company
o isks, and i equi es specialized knowledge and skills ha no all companies possess.
In he business wo ld, adop ing new echnologies usually in ol es adjus ing he ways
in which alue is c ea ed. These di icul ies come om shi ing new digi al unde akings
away om he long-es ablished, o en s ill analog, co e o he company, because o he
digi al ans o ma ion e o s. While di e si ying in o new a eas can b oaden and deepen
an o ganiza ion’s p oduc and se ice po olio, i o en equi es acqui ing new skills and
aking addi ional isks due o insu icien amilia i y wi h his new a ea. The heo y o p ac-
ice u ns in socie y p o ides he ounda ion o he s a egy-as-p ac ice app oach (Loonam
e al.,2018). I emphasizes he e e yday ac ions o people a di e en o ganiza ional le els
(Loonam e al.,2018) as i iews s a egy as some hing ha people and companies do a he
han ha e (Zúñiga-Vicen e & Vicen e-Lo en e,2006). This app oach now o e s a b oad pe -
spec i e o analyze many o he phenomena in ol ed in s a egy o mula ion. Ra he han
ocusing speci ically on he dynamics o s a egy, i p o ides an analysis o i s cons uc ion.
The se ice sec o is cha ac e ized by in angibili y, he e ogenei y, and pe ishabili y. As
P ahalad and Ha (2005) indica e, we can ind ha se ice indus ies h i e in co-c ea ing
alue wi h cus ome s. He e, cus ome in e ac ions a e c ucial. And he sec o ’s need o
cus omiza ion and esponsi eness d i es i o de elop dynamic capabili ies ha a e essen-
ial o success. To mee his need, companies mus de elop some hing called cus ome
ela ionship managemen , o CRM o sho . This is a p e y s aigh o wa d concep , eally.
I is abou unde s anding you cus ome s and de eloping a plan o main aining a posi i e
ela ionship wi h hem o e he e m o you en u e. Deli e ing eal- ime cus ome se ice
is ano he “capabili y” ha is necessa y o he sec o . In con as , he manu ac u ing sec o
is mo e conce ned wi h p oducing angible hings. Bu e en he e, we ind some hing
in e es ing. In acco dance wi h De Ca olis e al. (2017), he dynamic capabili ies o i ms
in manu ac u ing a e no jus abou e iciency, scalabili y, o main aining quali y con ol.
They a e also abou making echnological inno a ions and op imizing wha is called he
supply chain.
2.1. Achie ing Digi al Ma u i y by A aining Dynamic Capabili ies
Se e al de ini ions exis o he no ion o dynamic capabili ies, some o which ela e o
skills o abili ies and p ocesses o esul s. Acco ding o Ba e o (2010), “Dynamic powe
can be de ined as he abili y o an o ganiza ion o p e en ac ions and sol e p oblems
e ec i ely and sys ema ically”. These me hods a e desc ibed o allow he o ganiza ion o
iden i y and es oppo uni ies so ha we can iden i y and mi iga e isks. In addi ion, i is
possible o use he company’s abili y o make decisions abou oppo uni ies in he ma ke ,
as well as i s abili y o adap as needed in u u e ope a ions. Acco ding o K aa z and Zajac
(2001), dynamic capabili ies can be conside ed mul idimensional. The ou -way in e ac ion
o in e ac ion be ween ha acili a es and c ea es oppo uni ies o he ading cen e , and
i is he d i ing o ce behind he dynamics o he ma ke . Wha is being p esen ed he e is a
concep . The e m “ o med wo d” e y adequa ely speci ies and shows he ela ionships
be ween he in eg a ed cons uc and a ou -dimensional cons uc . Indeed, his is complex
Adm. Sci. 2025,15, 21 6 o 28
(K aa z & Zajac,2001;Wes e man & Mca ee,2012). Ins ead o being a wide- anging concep
a icula ed ac oss se e al dimensions, like he la en o supe o dina e cons uc , his speci ic
cons uc consis s o ou clea -cu dimensions.
The ocus o ou s udy goes beyond he ypical a iances and co a iances ha a e
p esen ac oss all dimensions, such as hose ound in he la en cons uc . We also ex-
amine a iances unique o speci ic dimensions, as well as co a iances ha a e unique o
ce ain dimensions (Wes e man & Mca ee,2012). The e o e, i can be concluded ha his
cons uc canno be adequa ely ep esen ed by a single dimension. P e ious esea ch on
dynamic capabili ies has shown he bene i s o conside ing all dimensions. The e o e, i is
ecommended o also do so in his amewo k. Fo example, he e ec i eness o esou ce
ans e is a ec ed by he decision-making p ocess o an o ganiza ion (Tallon & Ca oll,
2007). Simila ly, decision making plays a ole when an o ganiza ion iden i ies oppo uni-
ies and h ea s (Gill & Vanboski k,2016). Mo eo e , he impac o es uc u ing may be
e en g ea e when combined wi h business decision making (Schumache & Sihn,n.d.).
Fu he mo e, i is essen ial o poin ou ha he ou ac o s conside ed ep esen di e en
componen s o a cons uc ha , when combined, o m a single ac o (K aa z & Zajac,2001).
I is impo an o emphasize ha , unlike he la en case, his concep ualiza ion does no
se any condi ions o he ela ionship be ween he di e en measu emen a iables. In
ac , some ac o s show s ong o mode a e co ela ions (Wes e man & Mca ee,2012). Fo
example, acco ding o Neill e al. (2007), agile o ganiza ions a e able o make decisions
quickly and adap acco dingly. Mul iple componen s o an o ganiza ion’s capabili ies,
such as echnical capabili ies, digi al pla o m capabili ies, and echnological inno a ion,
a e he subjec o a e iew by P o oge ou e al. (2012). In many o he in es iga ions, he
pa played by he modi ying agen s in digi al ans o ma ion p ocesses has been eluci-
da ed wi h g ea e cla i y. Wa ne and Wäge (2019) in es iga ed o ganiza ions’ need
o de elop a capabili y amewo k o hei e icien digi al ans o ma ion. A s udy by
Ma a azzo e al. (2021) exposed how digi al ools can unlock new po en ial o businesses.
The e ec i e use o hese ools was iden i ied as being in eg al o he c ea ion o alue
o cus ome s. Soluk and Kamme lande (2021) ca ied ou a s udy on he pa played
by a ious esou ce equi emen s a a ious poin s in he digi al ans o ma ion p ocess,
wi h a ocus on how hese apply o SMEs. Acco ding o Telukda ie e al. (2022), ocusing
on he challenges o adop ing SME digi al ans o ma ion boils down o he ollowing:
I is he lack o money ha keeps SMEs om ecei ing he igh kind o IT help and he
digi al ools hey need, as SMEs ail in digi al ans o ma ion and he de elopmen o
expe ise, he gaps in digi aliza ion s emming om c i ical digi al in as uc u e, skills, and
wi h inancial de iciencies hampe ing ou e o s owa d digi aliza ion. Being unawa e o
he ad an ages and inclusion o digi al echnologies c ea es p oblems, and SME digi al
s a egies a e impac ed by a lack o us in online pla o ms and he isk o dependency
on hem. “Small and medium-sized en e p ises” (SMEs) can close he demand–supply
gap in e-comme ce h ough digi al ma ke ing. Compa ed o la ge i ms, SMEs ind i
mo e di icul o a ac skilled employees, and aining ha is ailo ed o speci ic needs is
expensi e and ha d o implemen in small companies.
This me hodology can he e o e p o ide insigh s in o he impo ance o imagina ion
in a dynamic amewo k. Consequen ly, ma u e companies ha e a decisi e compe i i e
ad an age, and his con i ms he i s , second, hi d, and ou h hypo heses.
Hypo hesis 1. Digi al ma u i y is posi i ely in luenced by he dynamic capabili y o sensing
oppo uni ies and h ea s o a i m.
Hypo hesis 2. Digi al ma u i y is posi i ely in luenced by he dynamic capabili y o he p opensi y
o make imely decisions o a i m.
Adm. Sci. 2025,15, 21 7 o 28
Hypo hesis 3. Digi al ma u i y is posi i ely in luenced by he dynamic capabili y o he p opensi y
o make ma ke -o ien ed decisions o a i m.
Hypo hesis 4. Digi al ma u i y is posi i ely in luenced by he dynamic capabili y o he p opensi y
o change he esou ce base o a i m.
2.2. Achie ing S a egic Planning and Compe i i e Ad an ages by A aining Digi al Ma u i y
Digi al ans o ma ion deno es a comp ehensi e echnological adjus men in an o ga-
niza ion; using digi al echnologies o enhance cu en ope a ions can lead o imp o ed
e iciencies and esul s. Howe e , his basic applica ion o digi al ools pales in compa ison
o wha some o ganiza ions a e a emp ing, as hey use digi al inno a ions o explo e
undamen ally new ways o conduc ing business. In his endea o , digi al expe imen a-
ion holds g ea p omise. The p ocess o digi al de elopmen is he blending o digi al
echnologies wi h physical componen s, esul ing in meaning ul new digi al p oduc s
(Be ghaus & Back,2016). The digi al ans o ma ion p ocess impac s mul iple aspec s o
a company’s ope a ions simul aneously, in ol ing mul iple s akeholde s esponsible o
he de elopmen o a ans o ma ion plan. Depa men s like ma ke ing, IT, s a egy o
he de elopmen o a p oduc , and HR may be in ol ed. I is e y impo an o all hese
g oups o each a sha ed mindse abou wha needs o be achie ed i s and wha can
wai ega ding digi al ans o ma ion. Mo eo e , he digi al ans o ma ion phenomenon
a ec s a ious indus ies in di e en ways. Rega ding he digi al wo ld e a, o ganiza ions
ha concen a e on cus ome s and ollow a business- o-consume app oach a e ypically
a ec ed soone and expe ience a g ea e o ganiza ional impac han indi idual en i ies ha
ollow a business- o-business app oach. The inc easing signi icance o digi al echnology
o business is now equi ing he IT unc ion o mimic hese de elopmen s and o aim
o s a egies ha enable he in eg a ion o IT in o business. Indeed, IT has o make he
ansi ion om a supply side o an ou come side pe spec i e ha deli e s he kinds o
payo s p omised om he uni ica ion o in o ma ion echnology and comme ce (Song
e al.,2011). In line wi h Ma e al. (2015), s a egies o alignmen aim o uni y and me ge
business and IT s a egies. Con e sely, he s a egy o digi al ans o ma ion equi es
hinking ahead, unde aking a g ea deal o planning, commi ing bo h emo ionally and
inancially o change, and execu ing he o ganiza ional change p ocess o achie e com-
pe i i e ad an age. The p ocess o ans o ming an o ganiza ion s a egically necessi a es
de ining a ision ha is clea and concise; he de elopmen o plans ha a e bo h s a egic
and ac ical; and he execu ion o hose plans (Song e al.,2011). Despi e he impo ance ha
many p o essionals a ach o digi al ans o ma ion, many decision make s ind i di icul
o de elop a iable s a egy. In nume ous indus ies, manage s mus delinea e he ac ion
ields o he “ ans o ma ion oadmap”. They need o p io i ize a ious di e en asks and
come up wi h a s a egic ision ha is sui able o he digi al age. Gi en he o ganiza ional
ans o ma ion o he las ew decades, a huge p opo ion o he wo ld’s popula ion has
been exp essing a subs an ially inc eased in e es in he digi al e a, wi h many people
wholly emb acing i (Be ghaus & Back,2016). I has allowed businesses o le e age eme g-
ing applica ions and inco po a e digi al echnologies in o hei ope a ional wo k lows (Ma
e al.,2015). The no ion o being digi ally ma u e was in oduced in a ecen academic pape
(S ahn e al.,n.d.), and (Yi e al.,2023) o de ine he abili y o e ec i ely cope wi h digi al
dis up ions. The digi al ma u i y o an o ganiza ion en ails ensu ing ha he componen s
o ha o ganiza ion wo k oge he owa d a common pu pose, in line wi h he demands o
a apidly e ol ing digi al en i onmen . The idea is g ounded in he psychological no ion
o “ma u i y”, which e e s o he de eloped skill o adjus ing and e ec i ely in e ac ing
wi h he en i onmen . The newly p oposed digi al ans o ma ion model o consul ing
i ms includes he implemen a ion o new inno a i e echnology solu ions, which se e
Adm. Sci. 2025,15, 21 8 o 28
as he basic building blocks o ha ans o ma ion. Howe e , he key o consul ing i ms’
new digi al model is alignmen . The consul an s asse ha he basic componen s o a
i m’s s a egy, cul u e, s uc u e, and p ocedu es should wo k in unison o mee he digi al
needs o a i m’s a ious cons i uen s, bo h in e nal (like employees) and ex e nal (like
cus ome s). Thus, companies ha ha e achie ed a high le el o ma u i y demons a e
impo an s a egic planning capabili ies and compe i i e ad an ages, con i ming he i h
and six h hypo heses.
Hypo hesis 5. Digi al ma u i y is posi i ely in luenced by he s a egic planning o a i m.
Hypo hesis 6. Digi al ma u i y is posi i ely in luenced by he compe i i e ad an ages o a i m.
2.3. The Media ing Deg ee o Digi al Ma u i y in Achie ing E ec i e S a egic Planning Th ough
Dynamic Capabili ies
Digi al s a egy is cha ac e ized by a “join ision” ha aligns bo h he in o ma ion
sys ems (IS) s a egy and he business plan. As asse ed by Bha adwaj e al. (2013), he
adi ional di ision be ween business s a egy and in o ma ion sys ems (IS) s a egy can
become mu ky. As highligh ed by Yeow (2019), he concep o digi al s a egy includes
business- ocused elemen s as well as echnology-inspi ed elemen s. This dis inguishes i
om he o ganiza ional pe spec i e o in o ma ion sys ems (IS) s a egy, which ocuses on IS
in es men , implemen a ion, use, and managemen , as discussed by Fi zge ald e al. (2013).
The idea o a digi al (business) s a egy e e s o an o ganiza ional s a egy ha uses digi al
ools o c ea e a ce ain kind o alue (Bha adwaj e al.,2013). The “Digi al T ans o ma ion
S a egy (DTS)” has se o h a se o objec i es ha se e as a beacon o he o ganiza ion,
and hese objec i es ligh he way owa ds a ully ealized digi al u u e, as hey p o ide no
jus in o ma ion bu also inspi a ion o he ask o c ea ing a cohe en and comp ehensi e
digi al s a egy o he en e p ise (Ma e al.,2015). I is ce ainly undamen al o poin
ou ha DTS, as such, does no supe sede any p e ious echniques; you will ha e o
in eg a e hem. In he mode n e a, cha ac e ized by an inc easing dependence on digi al
echnologies, e en o ganiza ions ope a ing p ima ily in physical sec o s do no begin
hei digi al ans o ma ion e o s om a s a e o comple e non-exis ence o insigni icance.
Howe e , many companies a e now explo ing s a egies ha le e age digi al in o ma ion
h ough he implemen a ion o in e ac i e websi es, imp o ed cus ome se ice, and
enhanced consume expe ience. They a e also building c i ical ope a ional capabili ies
such as online pla o ms and digi al sys ems o acking supply chain ac i i ies. F om his
pe spec i e, he me hodology o a co po a ion’s s a egy owa ds ans o ma ion can be
elucida ed. S a egic planning in ol es a sys ema ic p ocedu e used o de ise a s a egy
and decide how o dis ibu e he esou ces equi ed o ca y i ou , wi h he ul ima e goal o
achie ing he o ganiza ion’s objec i es. The p ocedu al aspec s mainly di ec he c ea ion,
applica ion, and assessmen o plans o digi al ans o ma ion s a egies. Howe e , because
o i s inno a i e na u e, i is impo an o ini ially iden i y speci ic con en elemen s o be
included in digi al ans o ma ion s a egies. The ollowing ou co e componen s and
he esul ing o e all amewo k we e de i ed om p elimina y esea ch ha included an
analysis o he ele an li e a u e.
To engage in e ec i e s a egic planning and o ully g asp he p esen s a e o a ai s,
companies mus de elop an all-encompassing unde s anding o he kind o o ces ha
a ec i . This equi es ac i e pa icipa ion and he use o he in e p e i e skills o a ious o -
ganiza ional membe s. The use o he e m “capabili ies” by Teece e al. (1997) concen a es
on he s a egic alue o managemen .
Consis en wi h his pe spec i e, many ui ul lines o academic esea ch ha e p obed
he basic dynamic capabili ies and he compe i i e ad an age ela ionship. In hese lines o
Adm. Sci. 2025,15, 21 15 o 28
Table 2. Con .
Cons uc Sou ce S a emen Indica o Loadings CR AVE VIF
Li and Liu (2014)“Unde many ci cums ances, we can make imely
decisions o deal wi h s a egic p oblems.” DCP_MTD2 0.902 4.914
Li and Liu (2014)“Usually, we can emedy quickly o unsa is ac o y
cus ome s, mal unc ions o se ice eques s.” DCP_MTD3 0.888 0.907 0.754 4.038
Li and Liu (2014)“Usually, we can econ igu e esou ces in ime o add ess
en i onmen al change.” DCP_MTD4 0.901 4.831
Li and Liu (2014)“Usually, ou s a egic changes can be e icien ly
ca ied ou .” DCP_MTD5 0.741 1.570
Li and Liu (2014)“Usually, we analyze he ac ual use o ou se ices
and p oduc s.” DCP_MOD1 0.831 2.053
Li and Liu (2014)“Usually, ou o ganiza ion is s ong in dis inguishing
di e en g oups o use s and ma ke segmen s.” DCP_MOD2 0.883 0.898 0.761 2.672
Li and Liu (2014)“We change ou p ac ices when cus ome eedback gi es
us a eason o change.” DCP_MOD3 0.907 3.212
Li and Liu (2014)
“Usually, we ha e mee ings o discuss he ma ke demand
on a egula basis.” DCP_MOD4 0.868 2.519
Li and Liu (2014)“Digi al-speci ic IT a chi ec u e suppo s ou business
agili y h ough lexible ools and suppo ing p ocesses.” DM_P1 0.845 4.571
Li and Liu (2014)“Thi d-pa y se ices a e being in eg a ed and suppo ed
by ou digi al en e p ise IT a chi ec u e and ela ed ools.”
DM_P2 0.835 4.848
Li and Liu (2014)
“The deg ee o au oma ion in mass p ocesses (e.g.,
in oicing, B2B-p ocu emen p ocesses, se lemen wi h
o he ma ke communica ion membe s) is high.”
DM_P3 0.852 4.734
Li and Liu (2014)“In ou o ganiza ion we ha e ully analyzed p ocesses
ega ding hei digi iza ion possibili ies.” DM_P4 0.803 4.722
Li and Liu (2014)“Ou echnical in as uc u e is sui able o
digi al inno a ions.” DM_P5 0.742 4.431
Li and Liu (2014)
“In ou o ganiza ion we ha e al eady analyzed indi idual
new echnologies (e.g., cloud-compu ing, big da a, mobile
compu ing, blockchain) ega ding hei
applica ion possibili ies.”
DM_T1 0.784 3.726
Adm. Sci. 2025,15, 21 16 o 28
Table 2. Con .
Cons uc Sou ce S a emen Indica o Loadings CR AVE VIF
“Digi al Ma u i y”
Li and Liu (2014)
“Collabo a ion wi h o he ecosys em pa ne s ega ding
he use o new echnologies and digi al ans o ma ion is
well es ablished in ou o ganiza ion.”
DM_T2 0.853 4.199
Li and Liu (2014)
“Analy ics echnologies a e being used o op imiza ion o
se ices and p ocesses.” DM_T3 0.829 4.386
Li and Liu (2014)“Pilo s a e cons an ly conduc ed o es new digi al ools
and pla o ms in ou o ganiza ion.” DM_T4 0.817 0.901 0.653 3.684
Li and Liu (2014)“We egula ly use ad anced echnology o analyze
ma ke dynamics.” DM_T5 Wi hin mul icollinea i y, his a iable is elimina ed
Li and Liu (2014)“In ou o ganiza ion we ha e a comp ehensi e,
c oss-sec o al digi iza ion s a egy.” DM_S1 0.785 4.294
Li and Liu (2014)“A common digi al s a egy is sha ed ac oss ou
o ganiza ion a all le els.” DM_S2 0.726 4.581
Li and Liu (2014)“Ou digi al s a egy is well de eloped and d i es ou
o ganiza ion’s s a egical di ec ion.” DM_S3 0.813 4.677
Li and Liu (2014)“Ou digi al s a egy has o some ime been d i ing
managemen and in es men decisions.” DM_S4 0.823 4.125
Li and Liu (2014)“Digi al ini ia i es ha e been implemen ed ac oss ou
o ganiza ion, including c oss-depa men al p ojec s.” DM_S5 0.836 4.910
Li and Liu (2014)
“In ou o ganiza ion we egula ly held mee ings in which
he digi iza ion s a e is eco ded and con olled.” DM_C1 0.733 2.745
Li and Liu (2014)“The in e es o ou employees/my colleagues o ac i ely
shape he digi iza ion o ou o ganiza ion is high.” DM_C2 0.792 3.652
Li and Liu (2014)
“Managemen is con inuously communica ing he digi al
s a egy and ad ances in i s implemen a ion ac oss he
whole o ganiza ion.”
DM_C3 0.824 4.362
Li and Liu (2014)“Ou digi al s a egy has o some ime been d i ing
managemen and in es men decisions.” DM_C4 0.824 4.069
Li and Liu (2014)“Ou o ganiza ion is lexible and adap s o changes in he
ma ke in an agile way.” DM_C5 0.821 4.112
Adm. Sci. 2025,15, 21 17 o 28
Table 2. Con .
Cons uc Sou ce S a emen Indica o Loadings CR AVE VIF
“S a egic Planning”
Song e al. (2011)“In ou s a egic business uni , ou company aims and
ambi ions a e clea and documen ed.” SP_1 0.900 3.562
Song e al. (2011)“In ou s a egic business uni , ou company s a egy has
been p oduced using a obus app oach.” SP_2 0.894 4.082
Song e al. (2011)“In ou s a egic business uni , ou company s a egy is
egula ly and o mally e iewed and upda ed.” SP_3 0.926 0.898 0.830 4.916
Song e al. (2011)
“In ou s a egic business uni , ou company s a egy
p o ides he basis o he annual business plans
and p io i ies.”
SP_4 0.923 4.670
Song e al. (2011)
“In ou s a egic business uni , ou company s ikes he
igh balance be ween sho , medium- and
longe - e m planning.”
SP_5 0.912 4.435
Li and Liu (2014)“Compa ed wi h ou compe i o s, we ha e a highe
p o i ma gin.” CA_1 0.878 3.321
Compe i i e Ad an ages
Li and Liu (2014)“Compa ed wi h ou compe i o s, we ha e a highe
e enue g ow h.” CA_2 0.902 4.813
Li and Liu (2014)“Compa ed wi h ou compe i o s, we ha e lowe
ope a ing cos s.” CA_3 0.897 0.900 0.810 4.337
Li and Liu (2014)
“Compa ed wi h ou compe i o s, we ha e be e p oduc
and se ice quali y.” CA_4 0.867 3.153
Li and Liu (2014)
“Compa ed wi h ou compe i o s, we ha e an inc easingly
highe ma ke sha e.” CA_5 Wi hin mul icollinea i y, his a iable is elimina ed
Li and Liu (2014)“Compa ed wi h ou compe i o s, we ha e mo e
sa is ied cus ome s.” CA_6 Wi hin mul icollinea i y, his a iable is elimina ed
No e: “Model i s a is ics: SRMR = 0.074, Chi-squa e(X2) = 4818.303, NFI = 0.605. CR = Composi e Reliabili y; AVE = A e age Va iance Ex ac ed; VIF = Va iance In la ion Fac o . Wi hin
mul icollinea i y, he ollowing a iables a e elimina ed: DCP_SOT_1, DM_T5, CA_5, CA_6”. S ongly Disag ee (SD) = [i] o S ongly Ag ee (SA) = [VII]; DCP_SOT: “Dynamic Capabili y
P opensi y o Sense Oppo uni ies and Th ea s”; DCP_MTD: “ Dynamic Capabili y P opensi y o Make Timely Decisions”; DCP_MOD: “Dynamic Capabili y P opensi y o Make
Ma ke -O ien ed Decisions”; DCP_CRB: “Dynamic Capabili y P opensi y o Change he Resou ce Base”; DM_P: “Digi al Ma u i y P ocesses”; DM_T: “Digi al Ma u i y Technologies”;
DM_S: “Digi al Ma u i y S a egy”; DM_C: “Digi al Ma u i y Cul u e”, SP: “S a egic Planning”, CA: “Compe i i e Ad an ages”.
Adm. Sci. 2025,15, 21 18 o 28
Table 3. Fo nell–La cke c i e ion.
CA
DCP_CRB DCP_MOD DCP_MTD DCP_SOT
DM SP
CA 0.900
DCP_CRB
0.474 0.874
DCP_MOD
0.560 0.853 0.873
DCP_MTD
0.537 0.596 0.641 0.868
DCP_SOT
0.495 0.420 0.461 0.755 0.868
DM 0.541 0.839 0.860 0.665 0.482 0.827
SP 0.549 0.694 0.705 0.508 0.277 0.808 0.901
No e: “Diagonal alues (bold) a e he squa e oo s o AVE”. DM = “Digi al Ma u i y”; CA = “Compe i i e Ad-
an age”; SP = “S a egic Planning”; DCP = “Dynamic Capabili y P opensi y” (DCP_SOT: “Dynamic Capabili y
P opensi y o Sense Oppo uni ies and Th ea s”; DCP_MTD: “Dynamic Capabili y P opensi y o Make Timely
Decisions”; DCP_MOD: “Dynamic Capabili y P opensi y o Make Ma ke -O ien ed Decisions”; DCP_CRB:
“Dynamic Capabili y P opensi y o Change he Resou ce Base”).
Table 4. He e o ai –mono ai a io (HTMT).
CA DCP_CRB
DCP_MOD DCP_MTD
DCP_SOT DM
CA
DCP_CRB 0.615
DCP_MOD
0.512 0.908
DCP_MTD 0.586 0.641 0.890
DCP_SOT 0.553 0.466 0.519 0.830
DM 0.568 0.879 0.707 0.70 0.515
SP 0.588 0.733 0.785 0.541 0.302 0.858
No e: DM = “Digi al Ma u i y”; CA = “Compe i i e Ad an age”; SP = “S a egic Planning”; DCP = “Dy-
namic Capabili y P opensi y” (DCP_SOT: “Dynamic Capabili y P opensi y o Sense Oppo uni ies and Th ea s”;
DCP_MTD: “Dynamic Capabili y P opensi y o Make Timely Decisions”; DCP_MOD: “Dynamic Capabili y
P opensi y o Make Ma ke -O ien ed Decisions”; DCP_CRB: “Dynamic Capabili y P opensi y o Change he
Resou ce Base”).
Adm. Sci. 2025, 15, x FOR PEER REVIEW 13 o 28
(abo e 0.70), in acco dance wi h p e ious s udies (Hai e al., 2017). Consequen ly, acco d-
ing o he model, “composi e eliabili y” (CR) is less han 0.7 in he ac oss-i em condi ion
(Dijks a & Hensele , 2015). This low sensi i i y is e idence o he accu acy o ou model.
In addi ion, he ac o loadings in ou model had an “a e age a iance ex ac ed” (AVE)
abo e he expec ed ac o le el o 0.5 (Sa s ed e al., 2021). This sugges s ha ou con-
s uc s a e highly con e gen in hei abili y o explain he a ious p ope ies o he a i-
ables, meaning ha he cons uc s a e mo e con e gen . Acco dingly, he ga den in ou
model componen s ep esen ed mo e han 50% o he a iance in he a iables we se-
lec ed. A e assessing con e gen alidi y, a child analysis was conduc ed o de e mine
he di e ences be ween he cons uc s. We used he “Fo nell–La cke c i e ion” (Fo nell
and La cke , 1981) and he ecen ly c ea ed he “He e o ai -mono ai he e o ype–mono-
ype es (HTMT)” o he analysis (Dijks a & Hensele , 2015). The esul s o ou analysis,
as shown in Table 3, indica e ha all alues a e below 0.90. The calcula ions a e based on
he Fo nell–La cke c i e ion along wi h he we lime model, which yield alues ha sug-
ges su icien di e gen alidi y among he cons uc s. Looking closely a Table 4, we can
see ha he co ela ion alues o he chosen a iables and hei squa e oo ans o -
ma ions a e no as high as hose we ob ained wi h he independen a iables. Thus, i can
be a gued ha only one a iable explains some hing else. Gi en he da a ob ained using
he Fo nell–La cke model (Dijks a & Hensele , 2015), a me hod o es ing he cons uc
alidi y o he HTMT was de eloped. Dijks a and Hensele (2015) s a ed ha an HTMT
alue signi ican ly below 0.90 is an app op ia e h eshold o ensu ing cons uc alidi y.
In o de o minimize he co ela ions be ween componen s, Sa s ed e al. (2021) p oposed
he exis ence o a “spa ial in la ion ac o ” o he componen s. The s udy ound ha an
inc ease in he dispe sion in la ion ac o (VIF) om 1 o 5 indica es poo collinea i y. Ta-
ble 2 shows ha ou model is no collinea , and his is con i med by Figu e 2.
Figu e 2. Sca e plo esidual.
Figu e 2. Sca e plo esidual.
4.2. S uc u al Model Tes ing
Once he model measu emen s had been con i med, we u ned ou a en ion o e alu-
a ing he s uc u al model es s. We s a ed by a i icially in la ing he da ase o 5000 cases.
Then, we employed a boo s apping me hod o es ima e he pa h coe icien s’ s a is ical
Adm. Sci. 2025,15, 21 19 o 28
signi icance (Hai e al.,2017). A alue e lec ing he goodness o model compa ibili y
equi alen o 0.070 indica es ha ou model i s excellen ly. The esul coincides wi h he
ecommenda ion o Hai e al. (2017), who p oposed ha a h eshold below 0.08 is sa is ac-
o y o a “pa ial leas squa es pa h model”. In addi ion, we es ima ed he “no malized
i index” (NFI), as ecommended by Hensele e al. (2016). These au ho s indica e ha
alues nea 1 sugges a well- i ing model as a as his c i e ion is conce ned. Al hough
ou esul (0.605) is e y close o 1, i is impo an o be cau ious in in e p e ing he NFI
due o i s limi ed use, as emphasized by Hensele e al. (2016). In o de o mi iga e any bias
in ou s udy, i is necessa y o conside he “common me hod bias” and i s consequences.
Kock (2017) p oposed ha , in he con ex o PLS-SEM analysis, he common me hod bias
should be conside ed when in e p e ing esul s. One migh conside his when using VIF
alues, which a e p oduced when one speci ies “1” is he o al numbe o componen s o
he model being e alua ed. The VIF keeps ack o how much he a iance o an indi idual
componen (in his case, an indi idual i em) is in la ed because o i s linea ela ionship
wi h o he componen s (i.e., o he i ems) in he model. The VIF alues ob ained om ou
analysis, as shown in Table 2, indica e ha ou model aligns wi h he p emise ha he
VIF alues ough o all be ween 1 and 5. This indica es ha he model does no con ain
he kinds o s anda d me hodological bias e o ha o en a ec o he models. Mo eo e ,
we also ca ied ou an assessmen o analyze how much a iabili y in he explana ion
o he model’s a iables exis ed wi hin he model. We accomplished his by employing
he de e mina ion coe icien (R
2
). The DCP has a a iance o abou 79.6% o explaining
“digi al ma u i y,” as can be seen in he esul s ep esen ed in Figu e 3. The a iance in
he dependen a iable ha he independen a iable (SP) can accoun o is equi alen
o 68.9%. In he same way, he cu en analysis (AC) demons a es ha he independen
a iable accoun s o he pe cen age o a iance in he dependen a iable, known as he
explained a iance o coe icien o de e mina ion (DCP), which is 29.3%. In a compa able
way, DM p o ided an explana ion ega ding he 68.9% alue in he con ex o s a egic
planning, as shown in Figu e 3. In alignmen wi h he case made by Hensele e al. (2016),
i is impo an o assess he signi icance o he pa h coe icien by conside ing he e ec size
(
2
). The indings p esen ed in ou s udy demons a e ha DCP_CRB, DCP_MOD, and
DCP_MTD ha e a s ong e ec size on DM (0.171, 0.244, and 0.039, espec i ely). Du ing
he execu ion o DCP_SOT, a week e ec size on DM (0.000) was obse ed, and ou s udy
shows ha DM has a s ong e ec size on CA (0.413) and SP (2.167), as displayed in Table 5.
Adm. Sci. 2025, 15, x FOR PEER REVIEW 19 o 28
p emise ha he VIF alues ough o all be ween 1 and 5. This indica es ha he model
does no con ain he kinds o s anda d me hodological bias e o ha o en a ec o he
models. Mo eo e , we also ca ied ou an assessmen o analyze how much a iabili y in
he explana ion o he model’s a iables exis ed wi hin he model. We accomplished his
by employing he de e mina ion coe icien (R
2
). The DCP has a a iance o abou 79.6%
o explaining “digi al ma u i y,” as can be seen in he esul s ep esen ed in Figu e 3. The
a iance in he dependen a iable ha he independen a iable (SP) can accoun o is
equi alen o 68.9%. In he same way, he cu en analysis (AC) demons a es ha he
independen a iable accoun s o he pe cen age o a iance in he dependen a iable,
known as he explained a iance o coe icien o de e mina ion (DCP), which is 29.3%. In
a compa able way, DM p o ided an explana ion ega ding he 68.9% alue in he con ex
o s a egic planning, as shown in Figu e 3. In alignmen wi h he case made by Hensele
e al. (2016), i is impo an o assess he signi icance o he pa h coe icien by conside ing
he e ec size (
2
). The indings p esen ed in ou s udy demons a e ha DCP_CRB,
DCP_MOD, and DCP_MTD ha e a s ong e ec size on DM (0.171, 0.244, and 0.039, e-
spec i ely). Du ing he execu ion o DCP_SOT, a week e ec size on DM (0.000) was ob-
se ed, and ou s udy shows ha DM has a s ong e ec size on CA (0.413) and SP (2.167),
as displayed in Table 5.
Figu e 3. Tes ing esul model (*** means s a is ical signi icance a he p < 0.01 le el, and ** means
s a is ical signi icance a he p < 0.05 le el).
Table 5. Analysis o he e ec size.
In e ac ion S a is ical (
2
)
DCP_CRP
→
DM
0.171
DCP_MOD
→
DM
0.244
DCP_MTD
→
DM
0.039
DCP_SOT
→
DM
0.000
DM
→
CA
0.413
DM
→
SP
2.167
No e: DM = “Digi al Ma u i y”; CA = “Compe i i e Ad an age”; SP = “S a egic Planning”; DCP =
“Dynamic Capabili y P opensi y” (DCP_SOT: “Dynamic Capabili y P opensi y o Sense Oppo u-
ni ies and Th ea s”; DCP_MTD: “Dynamic Capabili y P opensi y o Make Timely Decisions”;
DCP_MOD: “Dynamic Capabili y P opensi y o make Ma ke -O ien ed Decisions”; DCP_CRB:
“Dynamic Capabili y P opensi y o Change he Resou ce Base”).
Figu e 3. Tes ing esul model (*** means s a is ical signi icance a he p< 0.01 le el, and ** means
s a is ical signi icance a he p< 0.05 le el).
Adm. Sci. 2025,15, 21 20 o 28
Table 5. Analysis o he e ec size.
In e ac ion S a is ical ( 2)
DCP_CRP →DM 0.171
DCP_MOD →DM 0.244
DCP_MTD →DM 0.039
DCP_SOT →DM 0.000
DM →CA 0.413
DM →SP 2.167
No e: DM = “Digi al Ma u i y”; CA = “Compe i i e Ad an age”; SP = “S a egic Planning”; DCP = “Dy-
namic Capabili y P opensi y” (DCP_SOT: “Dynamic Capabili y P opensi y o Sense Oppo uni ies and Th ea s”;
DCP_MTD: “Dynamic Capabili y P opensi y o Make Timely Decisions”; DCP_MOD: “Dynamic Capabili y
P opensi y o make Ma ke -O ien ed Decisions”; DCP_CRB: “Dynamic Capabili y P opensi y o Change he
Resou ce Base”).
E en ually, o e alua e he hypo heses p oposed in ou esea ch s udy, we pe o med
a pa h analysis o asce ain whe he he pa h coe icien s we e signi ican and meaning ul.
Ou hypo heses a e demons a ed in a clea and s aigh o wa d manne in Tables 6and 7
and in Figu e 1. The s uc u e o he hypo heses allows he di ec in e p e a ion o he
s a is ical signi icance o he esul s. The in o ma ion gi en in Table 6and displayed in
Figu e 3indica es ha he hypo hesis ela ionship be ween DCP_SOT and DM is no
co obo a ed by he ou comes (
β
=
−
0.003, = 0.065); he indings o ou s udy did no
gi e su icien p oo ega ding he null hypo hesis H1 being alse. Thus, we mus conclude
ha he e is no appa en , di ec ela ionship be ween DCP_SOT and DM. Meanwhile,
DCP_MTD, DCP_MOD, and DCP_CRB we e shown o ha e signi ican di ec e ec s on
SD (
β
= 0.163, = 2.014), (
β
= 0.451, = 4.823), and (
β
= 0.359, = 3.915), espec i ely, a
a con idence le el below 1%. The e o e, we accep he al e na i e hypo hesis (H2, H3,
and H4) and come o he conclusion ha he e exis s a bene icial ela ionship be ween
DCP_MTD, DCP_MOD, and DCP_CRB and DM. Simila ly, ou indings p o ide suppo
o H2, H3, and H4, and his can be explained in a s a is ical signi icance sense and h ough
he coe icien s a o ing he ela ionship be ween DM and CA (
β
= 0.541, = 9.210) as well
as DM and SP (
β
= 0.830, = 24.308). The e o e, we accep he al e na i e hypo hesis (H5
and H6) and conclude ha he e is a posi i e ela ionship be ween CA, SP, and DM.
Table 6. Hypo hesis es ing analysis.
Hypo hesis In e ac ion S a is ic βT-S a is ics p-Values Decision
H1 DCP_SOT -> DM −0.003 0.065 0.948 No Suppo ed
H2 DCP_MTD -> DM 0.163 2.014 0.044 Suppo ed
H3 DCP_MOD -> DM 0.451 4.823 0.000 Suppo ed
H4 DCP_CRB -> DM 0.359 3.915 0.000 Suppo ed
H5 DM -> CA 0.541 9.210 0.000 Suppo ed
H6 DM -> SP 0.830 24.308 0.000 Suppo ed
No e: DM = “Digi al Ma u i y”; CA = “Compe i i e Ad an age”; SP = “S a egic Planning”; DCP = “Dy-
namic Capabili y P opensi y” (DCP_SOT: “Dynamic Capabili y P opensi y o Sense Oppo uni ies and Th ea s”;
DCP_MTD: “Dynamic Capabili y P opensi y o Make Timely Decisions”; DCP_MOD: “Dynamic Capabili y
P opensi y o Make Ma ke -O ien ed Decisions”; DCP_CRB: “Dynamic Capabili y P opensi y o Change he
Resou ce Base”).
Adm. Sci. 2025,15, 21 21 o 28
Table 7. Media ion es ing analysis.
Indi ec E ec βT
S a is ic p-Value Decision
H7a, H7b
Dynamic Capabili y
Dimensions
DCP_SOT -> CA −0.002 0.066 0.948 No media ion
DCP_SOT -> SP −0.003 0.065 0.948 No media ion
DCP_MTD -> CA 0.088 1.971 0.049 Pa ial
media ion
DCP_MTD -> SP 0.135 2.047 0.038 Pa ial
media ion
DCP_MOD -> CA 0.244 4.328 0.000 Media ion
DCP_MOD -> SP 0.375 4.764 0.000 Media ion
DCP_CRB -> CA 0.195 3.523 0.000 Media ion
DCP_CRB -> SP 0.297 3.709 0.000 Media ion
No e: DM = “Digi al Ma u i y”; CA = “Compe i i e Ad an age”; SP = “S a egic Planning”; DCP = “Dy-
namic Capabili y P opensi y” (DCP_SOT: “Dynamic Capabili y P opensi y o Sense Oppo uni ies and Th ea s”;
DCP_MTD: “Dynamic Capabili y P opensi y o Make Timely Decisions”; DCP_MOD: “Dynamic Capabili y
P opensi y o Make Ma ke -O ien ed Decisions”; DCP_CRB: “Dynamic Capabili y P opensi y o Change he
Resou ce Base”).
The s udy also in es iga ed some media ing e ec s, and he esul s a e shown in
Table 7. The esul s show ha a media ed ela ionship exis s be ween DCP_MOD,
DCP_CRB, and SP and CA, wi h DM se ing as he media o be ween DCP_MOD and
CA (indi ec e ec = 0.244, = 4.328), DCP_MOD and SP (indi ec e ec = 0.375, = 4.764),
DCP_CRB and CA (indi ec e ec = 0.195, = 3.523), and DCP_CRB and SP (indi ec e -
ec = 0.297, = 3.709), suppo ing hypo heses H7a and H7b. The esul s indica e ha
he e is pa ial media ion ela ionship be ween DCP_MTD and CA (indi ec e ec = 0.088,
= 1.971) and DCP_MTD and SP (indi ec e ec = 0.135, = 2.047). The esul s show ha
he e is no media ed ela ionship be ween SCP_SOT and CA (
β
=
−
0.002, = 0.066) and SP
(β=−0.003, = 0.065), explaining H7a and H7b, as displayed in Table 7.
5. Discussion, Limi a ions, and Fu u e Lines o Resea ch
The dynamics o he digi al ma ke place in Pales ine a e no hing sho o s unning.
And hey can ully explain he occu ence o ull media ion. The s udy u he enhances he
unde s anding o he sho - e m ou comes o dynamic capabili ies, ou comes ha ce ainly
me i mo e in-dep h sc u iny in u u e s udies. This esea ch expands ou knowledge o
how dynamic capabili ies impac o ganiza ional pe o mance and places a g ea emphasis
on he signi icance o digi al ma u i y in eaching s a egic planning and “compe i i e
ad an age”. In his sys em, “dynamic capabili ies” uly a e a d i e o he o ma ion
o use ul esou ces and compe encies oge he , e e ed o as digi al asse s ha boos an
o ganiza ion’s pe o mance. We p esen p ac i ione s wi h wo impo an c i e ia ha
ha e p ac ical implica ions. The i s s ep o e ec i ely manage ex e nal shocks and
dis up i e dynamics is o ecognize and al e he deg ee o dynamic capabili ies. This
p ocess se es as a undamen al basis and p e equisi e o success in add essing such
challenges. Addi ionally, as a as he in ica e web o digi al ans o ma ions goes, he
delica e p ocess o s age ecogni ion and acknowledgmen in digi al ma u i y in ol es
knowing when o shi gea s. Knowing when o ad ance om one le el o he nex is
i ally impo an o no jus su i ing bu also h i ing in a compe i i e landscape. I
specialis s wan o enhance hei digi al ma u i y, hey need o ocus on mo e han jus he
applica ion. In eg a ing digi al elemen s in o an o e all s a egy, o ganiza ional cul u e,
and business model is wha companies mus do wi h espec o digi al echnologies and he
digi iza ion o business p ocesses. They canno jus in oduce new echnologies o digi ize
Adm. Sci. 2025,15, 21 22 o 28
p ocesses and expec digi al ans o ma ion o occu . To e ec i ely add ess he challenges o
digi al dis up ion, i is impe a i e ha o ganiza ions adop a digi al mindse ha is deeply
ing ained in hei co po a e cul u e. This in ol es de eloping a comp ehensi e, decision-
o ien ed digi al s a egy ha spans mul iple depa men s and unc ions. In addi ion,
os e ing collabo a ion wi h ex e nal ecosys em pa ne s and implemen ing digi al business
models a e key componen s o his app oach.
These pa ame e s, among o he s, a e essen ial o e ec i ely na iga e he complexi ies
o digi al dis up ion. The indings o ou s udy indica e ha digi al ma u i y signi ican ly
in luences how dynamic capabili ies ela e o pe o mance esul s in a as -e ol ing digi al
economy. The e o e, o ganiza ions mus es ablish a digi al ans o ma ion s a egy ha is
dynamic and speci ic o hei con ex s, enabling hem o use hei unique se o dynamic
capabili ies o pi o owa d wo hwhile digi al ini ia i es. The conside a ion o bo h
dynamic capabili ies and in e media e goals like digi al ma u i y should be a op p io i y
o manage s o main ain sus ainabili y. Kla in (2018) ocuses on balancing he ollowing
h ee pilla s o sus ainabili y: he en i onmen al, social, and economic ac o s. I we do
no main ain his balance, we isk allowing one a ea o become “sus ainable” while he
o he s de ol e in o p ac ices ha will no las long o ha may ac ually cause ha m. We
ha e o le nondu able p ac ices in any a ea se e as a wa ning o us ha wha we a e
wo king owa ds in he supposedly sus ainable a ea has no eally been sus ainable in any
meaning ul way (Kla in,2018).
The digi al wo ld is h owing an e e -inc easing numbe o ex e nal o ces a o ganiza-
ions o o ce hem o change. T ans o ming nea ly all o ganiza ions in o agile, esponsi e
en i ies in a digi al en i onmen is i al. Howe e , a clea ly de ined bu limi ed g oup o
companies is pe o ming he ha d wo k o building digi al ma u i y. These companies
seem o unde s and ha signi ican ans o ma ion is equi ed and ha his ans o ma ion
is necessa y o s ay compe i i e and achie e sus ainabili y, as businesses mus s i e o
he ad an age o e hei compe i o s. This esea ch aimed o look a how digi al ma u i y
in luences he ela ionship be ween dynamic capabili ies and ha ing he uppe hand in
compe i ion and s a egic planning in businesses. I achie ed his by s udying a sample o
i ms based in Pales ine. To g asp how digi al ans o ma ion can embolden a company’s
compe i i e edge, we look a he dynamic capabili y amewo k. Using his well-wo n ool
om he s a egy li e a u e, we apply i o a con empo a y con ex o be e unde s and
digi al ans o ma ion, along wi h he success ac o s ha de e mine whe he a company
is likely o achie e i . This analysis lays ba e he signi icance o being no only digi ally
ma u e bu also capable o an elusi e combina ion ha , as we shall see, necessa ily in-
ol es a deg ee o dynamism. Why is such a combina ion i al? Because, as he e idence
o e whelmingly sugges s, i co ela es wi h he g ow h o o ganiza ions in an inc easingly
su i al-o - he- i es digi al wo ld. This s udy o e s e i ica ion o pu o wa d he con-
jec u e ha businesses exhibi ing ele a ed le els o digi al ma u i y pe o m in a supe io
way o hei compe i o s. Ou indings sugges ha businesses possessing a g ea e le el
o digi al ma u i y deli e be e inancial e u ns. This esea ch demons a es ha digi al
ma u i y posi i ely in luences he a ainmen o “compe i i e ad an age”. Consequen ly,
his esea ch adds o he cu en ly a ailable s ock o e idence ha is based on obse a-
ion o expe ience a he han heo y, demons a ing he posi i e e ec digi al ma u i y
has on business pe o mance (Kane,2019;Schwe ne ,2017;Wes e man & Mca ee,2012).
Mo eo e , i also helps us unde s and he easons behind success in he con ex o digi al
e olu ion. Ou s udy’s indings a i m he p e ailing managemen ecommenda ions ha
emphasize he bene i s o inc easing companies’ digi al ma u i y, especially in ola ile
ma ke condi ions. The esul s we ob ained no only emphasize how impo an digi al
ans o ma ion is whe e a aining a compe i i e edge is conce ned bu also e eal ha
Adm. Sci. 2025,15, 21 23 o 28
he mos digi ally ad anced companies ac ually possess a signi ican ly enhanced abili y
o deploy dynamic capabili ies compa ed o hei less digi ally ma u e coun e pa s. Es-
ablishing a link be ween dynamic capabili ies and digi al ma u i y can in o m us abou
he di ec ion needed o each he summi o digi al ma u i y. Achie ing digi al ma u i y
demands ha business leade s cons an ly and con inuously e hink and e-examine e e y
aspec o hei ope a ions. This s udy shows ha in o de o ad ance hei digi al ma u i y,
companies need o ac i ely implemen and in eg a e he dynamic capabili ies inhe en
in hei o ganiza ional s uc u e. This esul aligns wi h ea lie concep s and esea ch
conduc ed in he con ex o a ious o he ma ke s (P o oge ou e al.,2012). The clea and
subs an ially a o able e ec s seen in his s udy can be aced o he unusual and dis inc i e
na u e o his business, wi h i s high deg ee o ma ke ola ili y and as -paced changes ha
keep i on an e e -e ol ing cou se. Th ough ou s udy, we ound ha companies wi h mo e
de eloped dynamic capabili ies ha e p og essed u he along he pa h o digi al ma u i y
han hei pee s. Dynamic capabili ies appea o be a pa hway o e ec i e digi al shi s in a
speci ic indus ial en i onmen . The plausibili y o his inding is due o he ecogni ion
ha digi al ans o ma ion p ocesses a e inhe en ly changing p ocesses. Mo eo e , he
p esence o s ong digi al dynamics in he Pales inian con ex can be seen as an ex e nal
shock ha inc eases he desi e o companies o success ully ocus on digi al ansi ion,
which is now c ucial no only o su i al bu also o achie ing a compe i i e edge.
This esea ch u he backs up p io empi ical esea ch ha has looked in o how dy-
namic capabili ies a ec company pe o mance. F om a pe spec i e g ounded in esou ces,
we deduce ha dynamic capabili ies build upon he ounda ional compe encies o a i m’s
esou ce base and p o ide he basis o achie ing a pe o mance impac ha is di icul
o compe i o s o eplica e. In pa icula , i shows ha a company’s compe i i e edge is
boos ed by a s ong se o dynamic capabili ies. Companies ha ha e dynamic capabili ies
ha su pass hose o hei compe i o s a e adep a spo ing and seizing oppo uni ies
and a coun e ing and dealing wi h h ea s in he Pales inian ma ke . Thei e iciency and
e ec i eness win ou hose o less capable i ms. These esul s align wi h hose o Makadok
(2010) and Fang and Zou (2009). In a ious ma ke s, his kind o lexibili y has been shown
o lead o ei he inc eased e enue o dec eased cos s. Consequen ly, i has been shown o
con ibu e o “compe i i e ad an age” (D ne ich & K iauciunas,2011). This s udy ound
a signi ican posi i e impac on pe o mance. One iable explana ion is ha companies
displaying a subs an ial deg ee o dynamism (and especially hose wi h a s ong ma ke
o ien a ion) a e able o employ hei supe io unde s anding o consume ma ke s and
he cu en business clima e o boos hei o e all pe o mance (Neill e al.,2007). Gi en
he p e ailing dynamics in he Pales inian ma ke , i is impe a i e ha companies adop
a comp ehensi e ma ke o ien a ion in esponse o changing cus ome expec a ions and
beha io . Financial e u ns a e cha ac e ized by dynamism, which a o s o ganiza ions
wi h signi ican le els o dynamic capabili ies. These i ms a e p epa ed o espond wi h
e en g ea e speed, e iciency, and e ec i eness o he as -changing en i onmen (Tallon &
Ca oll,2007). This s udy examines he ela ionships be ween mul iple concep s and in e -
ac ions, highligh ing a mul i-s age causal chain. Speci ically, i explo es how being digi ally
ma u e a ec s he o ma ion o s a egic plans and how he de elopmen o compe i i e
ad an ages a ises om he in e wined aspec s o dynamic capabili ies and “sensing”,
“seizing”, and “ econ igu ing”. The s udy e eals a s ong media ion e ec , indica ing ha
digi al ma u i y ac s as a causal ac o in cla i ying how and why a company’s pe o mance
is in luenced by i s dynamic capabili ies in he con ex o a digi al business model. The
s udy ound ha digi al ma u i y ully media es he ela ionships be ween compe i i e ad-
an age, dynamic capabili ies, and s a egic planning. In o he wo ds, he ways compe i i e
ad an age is a ec ed by dynamic capabili ies o s a egic planning a e no signi ican when
Adm. Sci. 2025,15, 21 24 o 28
we con ol a i m’s digi al ma u i y. This esul is impo an because p io esea ch has
poin ed o o he media o s ha explain how dynamic capabili ies in luence pe o mance
(P o oge ou e al.,2012).
This s udy in ended o in es iga e he connec ions among he dimensions o “dynamic
capabili y” and “digi al ma u i y”. The esea ch ou comes s ongly linked h ee dynamic
capabili y dimensions wi h digi al ma u i y. These capabili y dimensions exhibi ed ei he
a clea o linea ela ionship wi h digi al ma u i y, and hey we e s a is ically signi ican .
Fo ins ance, he pa h om DCP_CRB, DCP_MOD, and DCP_MTD o “Digi al Ma u i y”
yielded he espec i e s a is ically signi ican p- alues (
β
= 0.359, p= 0.000), (
β
= 0.451,
p= 0.000), and (
β
= 0.163, p= 0.044), indica ing a s ong, eliable pa h exis s be ween hem.
In co obo a ion wi h p e ious indings, hese ou comes sugges he p opensi ies o change
esou ce bases as ele an indica o s o digi al ma u i y; he indings a e co obo a ed
by (Bha adwaj e al.,2013). The esea ch ou comes poin o a s ong and well-de ined
ela ionship be ween “digi al ma u i y” and “s a egic planning”, and he s a is ical da a
we ob ained suppo s his inding. In a s ic ly s a is ical sense, he p- alue we ound yields
a highly signi ican esul (
β
= 0.830, p= 0.000). We also ound a di ec and signi ican ela-
ionship be ween digi al ma u i y and s a egic planning ha has impo an implica ions
o he digi al u u e o o ganiza ions. The cu en s udy’s esul s exhibi consis ency wi h
he p io esea ch o Ma e al. (2015), bu hey also ex end he p io indings by o e ing
a mo e ecen pe spec i e and a s onge emphasis on di ec signi icance. The esea ch
indings show a clea link be ween digi al ma u i y and compe i i e ad an ages. Using
s a is ical e idence, we could clea ly ell ha digi al ma u i y has a s ong and meaning ul
ela ionship wi h he compe i i e ad an ages i possesses. We ound his o be ue o a
high deg ee o ce ain y (
β
= 0.541, p= 0.000). Ou esea ch builds on and adds o ea lie
esea ch pe o med by Teece e al. (1997).
The p esen s udy has ce ain limi a ions. Because i employs a esea ch me hodology
ha has some weaknesses, gene al conclusions abou he Pales inian inancial sec o canno
be con iden ly d awn. The e o e, i would bene i his esea ch o b oaden i s ho izons
and include addi ional coun ies, indus ies, o ma ke s, as well as o inc ease he sample
size. The p ocess o p e-selec ing he senio i y le el ensu es ha signi ican knowledge
ela ed o sensi i e in o ma ion is ob ained. The p ecision o he measu emen s could be
imp o ed by eplica ing his s udy, in which he esponses o mul iple employees om
one company a e combined o ob ain agg ega e sco es o company-speci ic cons uc s.
In his speci ic si ua ion, i is o schola ly in e es o look a how he senio i y le el o
employees who ake pa in he ep esen a ion migh in luence hei sel -assessmen s o
he cons uc s. This could be achie ed by conduc ing mul i-le el s udies, which p o ide
a aluable app oach o del ing deepe in o he undamen al componen s o dynamic
capabili ies. To inc ease pa icipan engagemen and educe da a sensi i i y, his s udy
used sel - epo ed ela i e da a as a means o assessing compe i i e ad an age. To elimina e
po en ial biases a ising om he p e ailing esea ch me hodology and mi iga e he inhe en
pe cep ual bias associa ed wi h sel - epo ed da a, a speci ic possible di ec ion o u u e
esea ch would be o b oaden he cu en s udy by inco po a ing annual epo s as a
dependen a iable. Annual epo s could se e as a ich sou ce o da a o bo h he
con ol and expe imen al g oups, and in e ec , hey could double he equisi e numbe o
obse a ions. Fu he mo e, he assessmen o dynamic capabili ies and he digi al ma u i y
le el o an o ganiza ion can be enhanced when he e alua o s ga he pe spec i es om a
a ie y o indi iduals h oughou he o ganiza ion. A momen ous ans o ma ion is aking
place in he inancial sec o , spu ed by echnology and he de elopmen o new digi al
ools. Ye , i is no jus echnology ha is d i ing his change, bu also changing consume
needs and p e e ences. O ganiza ions ocused on inancial se ices canno a o d o si s ill
