Digital darwinism : the influence of technology pace, tempo and direction on Maltese businesses

Abstract

The phenomenon of Digital Darwinism is a looming destiny that intimidates the majority of businesses today in almost every industry. Digital Darwinism is the occurrence describing the rapid evolution of technology and society, faster than an organization can adapt to. Companies must not only strive for the temporary needs of today but also for the unforeseeable and unexpected future. Certainly, there are a variety of reasons why this is so; some of which are emphasised and stressed in this study. As a result, every strand in a company is stretched thin due to various internal and external stimuli which make this race against time tougher to win. This rationale forms the basis of this research. A survey was designed and distributed to several Maltese businesses for company executives to take part in. Additionally, a set of interviews were conducted with company executives from diverse businesses in which participants expressed their views on the phenomenon and their current mission to stay in the game. An in-depth study of these results establishes that for companies to move forward and adapt to the digital challenge, it is critical that the adoption of new technology and continuous personnel skill improvement within businesses are adopted and taken forward concurrently. Furthermore, it is imperative that senior management establish a transformative image of their agendas; else, departmental managers will tend to only enhance locally, that is, within their domain of authority. The study also provides rigorous research insight of this digital transformational change which should give a better understanding of the digital business world’s fate. By hypothesising companies’ direction and functions, technology and people become part of the solution rather than part of the problem.