The Impact of Digital Transformation on Performance of Pharmaceutical Enterprise - Take Yunnan Baiyao as an Example
Year: 2024
Type: article
Abstract: With the rapid development of digital technology, traditional innovation management theories and practices are facing great changes. Digital technologies have not only changed the way innovation is done, but also reshaped the environment in which companies operate. Digital transformation is considered by many organizations as the fastest way to change their own predicament. However, up to now, the vast majority of successful transformation of enterprises are financial or manufacturing-related, pharmaceuticals, as a closely related to human life industry, its digital transformation process has been stagnant. Therefore, this paper chooses Yunnan Baiyao, one of the earliest successful companies in this field, as a case study, and summarizes the company's transformation path and its impact on its performance, providing reference value for those companies which fail to do so. After qualitative research and calculation, this paper prove that digital transformation has a positive impact on its performance growth. Especially stepping into the stage of intelligence and digital intelligence, thanks to reasonable control of costs and accurate digital strategy development, the company revenue and overall operational efficiency has been greatly improved.
Author: Jiayi Qin
Institution: University College London
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4405589988