How to Create Business Value Through Technological Innovations Using ICCT Underlying Technologies

Abstract

Purpose: Organizations are struggling to sustain and grow in the 21^st century due to many challenges and uncertainties while doing their business. Long-term sustaining in the business needs retaining the existing customers and attracting new customers through various strategies for satisfying, delighting, and enlightening existing customers, and creating overwhelming demand through business value creation for attracting new customers. It is a challenge for all the decision-makers to find out how to create business value to retain existing customers and attract new customers. Here, a conceptual and exploratory analysis is made of how the innovations using technology create business value for organizations in general.

Methodology: This conceptual analysis uses an exploratory research method. The information is collected using Google, Google Scholar, and Artificial Intelligence GPT search engines using appropriate keywords and prompt engineering respectively and the collected, analysed, compared, evaluated, and interpreted towards creating business value using technology with special emphasis on the use of ICCT underlying technologies. The advantages, benefits, constraints, and disadvantages of business value creation using ICCT underlying technologies for business value creation are listed from stakeholders’ points of view.

Outcome: The role of twelve ICCT Underlying Technologies including AI, Blockchain, Business intelligence, Cloud computing, Cyber security, 3D printing, IoT, Quantum computing, Mobile marketing, Information storage technology, Ubiquitous education technology, and VR & AR for Business Value Creation like Innovation and Differentiation, Customer focus, Operational efficiency, Strategic Partnerships and Alliances, Talent Management, Effective Marketing and Branding, Financial Performance and Growth, Sustainability and Corporate Social Responsibility, and Adaptability and Agility.

Originality/Value: New knowledge and interpretation are presented on how to create business value for long time sustainability by organizations in every industry. 

Type of Paper: Exploratory Research Analysis