IMPORTANCE OF BUSINESS MODEL
EXPLORATORY ANALYSIS ON THE IMPORTANCE OF BUSINESS MODEL INNOVATIONS (BMIS) AND DIGITAL TRANSFORMATION IN GLOBAL MANAGEMENT CONSULTING FORMS (MCFS)


Syed Rizwan Haider Bukhari | Hira Anwer |
Iqra University | Gulshan Campus | Karachi |
Volume: 1 | Issue : 1 (2023/02/17)

Abstract

Business model innovations (BMIs) are an art of increasing advantages and creativity by mutually supporting the changes in the organization and the customer's value in its underlying operational models. Management consulting firms (MCFs) help their advisory or implementing services to improve the business model strategies and organizational and operational performances in their required capacity. Digital transformation is the perfect bridge between BMIs and MCFs. The current research is an exploratory study that has been conducted to analyze the effect of digital transformation on business model innovation when management consulting firms explore and implement their ideas using advanced business through information technology (IT) to improve and satisfy their customers. The research highlighted that by adopting digital transformation, management consulting firms could find innovative technology to improve operational performance by developing strategies and digital impact transformation. Management consulting firms, through digital technology, redefine the business model innovation that fulfils the global market requirements and technology upgradation. The global market realizes e-commerce and advanced technology to increase their global customers. Hence, the research concluded that information technology innovation has the ability to make the business model comply with customers' activities and strategies accordingly.


Keywords: Digital Transformation, Business Model Innovation, management consulting firms