Strategy and Governance in a Digital World
Strategy and Governance in a Digital World: Implications for Project Teams in the COVID-19 Period
The 21st century has experienced a lot of changes to the way businesses are set up as well as in how these organizations relate to the consumers through technological advancements. Particularly, Linkov et al. (2018) point to how the digital world has lessened the distance between organizations and other organizations and the same for consumers and businesses. As a result, strategy and governance have also been affected, tending to incorporate digital technologies in policy formulation and in activities that attempt to attain the bottom line. Erkut (2020) found that business change and technology are accelerating, calling for an update of governance practices and policies in order to remain competitive and relevant for the digital age. Furthermore, the increased connectivity of the society is noted by Lee & Trimi (2021) to be an advantage for the business world, for example in the current COVID-19 pandemic, businesses are heavily relying on the digital technologies to remain afloat, to conduct e-commerce, to connect with consumers, to reach their stakeholders, and even to govern using remote technologies. Therefore, the advantages of a digital world is that businesses are governed better, it informs strategy, enhances communication, trade, and services, and allows the organization to reach a wider audience.
Innovative enterprises are now fully embedded in the use of digital technologies as a mainstream approach to governance and strategy. Project teams are better managed when an organization has a digital infrastructure that is in line with the changes in business today (Whyte, 2019). For example, connecting with employees remotely, conducting e-meetings, and remaining interconnected despite issues such as the COVID-19 pandemic and the guidelines that have followed. Project teams require a digital platform to be able to systematically and effectively manage a project to completion (Falco & Kleinhans, 2018). Today, the role of digital technologies cannot be overemphasized, especially in the governance and strategy formulation for project teams. It has allowed easier management of projects and allowed troubleshooting in real-time in a way that increases efficiency.
Erkut, B. (2020). From digital government to digital governance: are we there yet?. Sustainability, 12(3), 860.
Falco, E., & Kleinhans, R. (2018). Beyond technology: Identifying local government challenges for using digital platforms for citizen engagement. International Journal of Information Management, 40, 17-20.Lee, S. M., & Trimi, S. (2021). Convergence innovation in the digital age and in the COVID-19 pandemic crisis. Journal of Business Research, 123, 14-22.
Linkov, I., Trump, B. D., Poinsatte-Jones, K., & Florin, M. V. (2018). Governance strategies for a sustainable digital world. Sustainability, 10(2), 440.
Whyte, J. (2019). How digital information transforms project delivery models. Project management journal, 50(2), 177-194.
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