The stakeholders’ perspective of the digital transformation phenomenon

Abstract

Digital transformation is the most buzzing topic, widely discussed among all business practitioners as well in academia, as every business sector is largely at the precipice of adapting itself to the dynamic evolution of technology. Despite of the available expertise and resources, the many of the organisations fail to achieve success in Digital Transformation (DT). This research paper digs in deeper to explore the reasons for these failures by applying the qualitative approach to conduct this research, this study aims to explore the reasons of current state of DT in the Wealth Management companies (WM), through stakeholder perspectives exploring their lived experiences of the digital transformation journey. The research uses the interpretive method with a phenomenological approach to explore the human perspectives from wider hierarchical layers in the chosen case study firms of the Wealth Management sector. The study finds a few major gaps such as a polarised understanding of digital transformation strategies, calibration issues in capability and agility mechanisms within the chosen sector. This research makes recommendations for business practices, which can facilitate a in charting the frictionless investment journey to their ultimate end customers.