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| Digital transformation of management tools, management methods and management theory

According to McKinsey (2021), 85% of the digital transformation project fails or does not provide the desired business interests. Such high failure rates are often associated with a focus on technology and a lack of focus on human and organizational aspects, such as change management (Boston Consulting Group 2021). In many cases, the unintended consequences of the implementation of digital transformation are hampering the expected gains from these technologies. Digital transformation suffers from both a "productivity paradox" and an "implementation gap", which hinders the potential business benefits claimed by technology providers.

Therefore, more applied research is needed on how to better manage the implementation of digital transformation.

The ECR CONFERENCE is committed to integrating dialogue between business managers, renowned universities and academic research scholars. Its goals are threefold. The first goal is to gain a deeper understanding of business issues among business managers. The second goal is to solve problems in the enterprise through different management tools, management methods and management theories.The third goal is to exchange and share experience and practical knowledge among managers. The relevance of management tools, methods and theories through academic discussion helps entrepreneurs redefine these business issues.

The ECR CONFERENCE was successfully held on July 3. The conference focused on helping companies and institutions that need to succeed in digital transformation, and provided a voice for company and institution managers and an opportunity for academics to have a Q&A discussion to improve the success of digital transformation.

At the beginning of the event, Dr. Jiang Yuewei, President of UCMT and President of the World Council for Lifelong Education (CMA) Asia, gave a wonderful opening speech. Prof. John, current professor of Universite Paris IX, Vice President of UCMT (Shanghai), Chair of AOM Division, and Professor of the Academy of Management,USA introduced ECR and held the first group discussion with the students.

After that, Professor Ron WEBER, Emeritus Professor of the University of Queensland and former President of Monash University South Africa, delivered his keynote speech on "What is digital transformation and its nature" and "How to identify possible opportunities in digital transformation".

Professor Ron

On "How to identify possible opportunities in digital transformation", Professor Ron describes five models that can be encountered in digital transformation, and expands the description from a macro, overall development perspective of the company.

Model1: a socio-economic approach to management

Model2: transaction - costs and found

Model3: Resource-based value theory

Model4: knowledge-based value theory

Model5: Service Dominant Logic-based theory

As for the "transaction-costs theory", Professor Ron said that transaction-costs theory has a long history for enterprises, but it can help us analyze the company's decisions and reduce the costs associated with market transactions. For example, when there is uncertainty or transaction costs are high, ransaction cost theory can help us make decisions, such as whether to insource or outsource.

After explaining the theoretical knowledge, Professor Ron also made a case study and held a question and answer discussion with the students.

Next, Fred Niederman, Professor of St. Louis University and editor-in-chief of Communications of AIS, talked about architecture. Professor Niederman believes that architecture can be divided into two main aspects.

Professor Fred

The first point, can a business or institution use technology to do morecustomer-facingapplications. Customer acceptance of application users is very important for the enterprise, most enterprises face ot only technical problems, but the problems in the organization structure and institution, so the establishment of all infrastructure must balance the two, that is to say, we have to do planning in advance, creating a good environment to help enterprises to improve the efficiency.

Here's a tip for everyone: in the process of our reform, don't just look at the update of technology or data processing, but also look at the accumulation and construction of human infrastructure, organizational skills, and professional knowledge.

The second point is the theoretical model, we need to maintain a balance between the theoretical model, when the opportunity comes, focus on technology and infrastructure, but also pay attention to the balance between department.we do not need to rebuild them in every adjustment, a good bottom model is to ensure more effective work at the top.

"Digital transformation will continue until there is a perfect integration of people and digitalization, and that's what we're working on right now," he said.

Later, Professor Huang Cheng, associate professor and doctoral advisor of Antai School of Economics and Management of Shanghai Jiao Tong University, director of the Institute of Health Economics and Management of China Hospital Development Institute of Shanghai Jiao Tong University, and three students had a discussion on "digital health technology".

Professor Ying Xiaohua, professor and doctoral advisor of Health Economics of Fudan University, director of the Department of Health Economics of Fudan University, deputy director of the Key Laboratory of Health Technology Assessment of the National Health Commission, and four students had a discussion on "digital hospital".

Dr. Sun Min, a researcher of UCMT Sino-European Research Center, an expert in strategic transformation and digital operation, and an industrial researcher of Tsinghua University, introduced the background of digital transformation of the company and the opportunities and challenges encountered, and discussed with the four students on "digital manufacturing of large companies".

Xu Xianlong, associate professor and deputy director of the Department of Educational Information Technology of East China Normal University, discussed and answered questions about "Digital services" with five students.

Finally, Professor Devinder Thapa, a member of the editorial board of ISJ, EJISDC, CAIS and IJIM Data Insights from Agder University, Norway, shared with the students two perspectives of controllability theory and institutional logic.

Professor Devinder

Professor Devinder said that digital transformation is actually a paradigm shift, it is about the business model, business process and other aspects of the transformation, including not only business decisions, but also the overall thinking, corporate culture, tools used and so on, it is a comprehensive change.

After the theme discussion, the participants and professors had a more in-depth discussion on the problems encountered by enterprises and their understanding of digital transformation. The professors shared their theoretical essences and the students shared their experience obtained in practice. Today's discussion is just a short journey on the road of management. We need to continuously practice and feed back on the understanding and planning of management efficiency, optimization of organization and process, and digitalization.

This is the end of the ECR activity, ECR will always accompany you in the future, to help entrepreneurs and managers get really valuable cognitive improvement.

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