Management of Digital Innovation

Abstract

Digital technologies are putting tremendous pressure on businesses to renew and transform their business models. The transformation of business models using digital technologies will lead the businesses to innovate themselves digitally. To improve operational efficiency, customer engagement, and launch successful new products, every organization must innovate. The application of new digital technologies to solve existing business problems and improve organizational practices is known as digital innovation. Digital innovation has become critical to the long-term viability and growth of businesses. To stay relevant and competitive, any company aiming for long-term success should embrace digital innovation. This chapter tries to find out the existing definitions of digital innovation from socio-technical perspectives regarding product, service, process, digital system, organizational innovation, and business models and tries to develop a framework to organize digital innovation research.