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Bridging the Gap Between Traditional Business Models and Technological Innovation: A Multidisciplinary Framework
Authors
-
Grace Idowu
Abstract
The rapid advancement of technology has presented both opportunities and challenges for traditional business models. As technological innovations disrupt industries, many traditional businesses struggle to integrate these advancements into their established practices, often due to cultural, structural, or operational barriers. This paper presents a multidisciplinary framework aimed at bridging the gap between traditional business models and technological innovation. Drawing on insights from management, economics, information technology, and organizational psychology, this paper explores the key drivers and challenges of technological integration and provides strategies to facilitate a smoother transition. The framework addresses critical areas such as leadership, organizational culture, strategy, and innovation ecosystems. Additionally, the paper offers practical recommendations for organizations to thrive in an era of rapid technological change.
Article information
Journal
Journal of Multidisciplinary Research and Innovation
Volume (Issue)
1 (1)
Pages
1-9
Published
Copyright
Copyright (c) 2023 Grace Idowu (Author)
Open access
This work is licensed under a Creative Commons Attribution 4.0 International License.
How to Cite
References
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