Digital Technology Adoption In The Context Of Asset Management : Organizational change and the impact of managers

Abstract: Digitalization and adaptation of technology are the current and future areas for organizations to gain efficiency within. Nevertheless, in a context where digitalization is an uprising trend, this research is needed now more than ever due to the COVID 19 Pandemic in the world. Many companies are having a hard time with the complexity of the digital age, facing challenges, and searching for support. This research will aim to solve these obstacles by collaborating with company X, who currently are in a similar situation. In order to understand the reasons of managerial resistance to adapt to new digital technology, the investigation also looked at the impact of managers and how it affects the digital technology adoption in the organization. This is done by considering the specific context of asset management (AM) since AM systems substitute to part of the control that is used by managers to support operations and maintenance processes. The research was explorative in the research approach in order to delimit the study after analysing the findings. The research is conducted through a literature review and empirical data that was conducted through a pre-study and interviews with company X. Many theories from the literature and findings from the analysis of the interviews shed some light on the contingency factors influencing the adoption of digitalization in the context of AM. The empirical and theoretical findings also supported the impact that managers have towards an organization's ability to go towards a more digitalized organization. The conclusion from this research found that the factors that affect the adoption of technologies are organizational capabilities and the underlying factors of task complexity and internal capability. The second factor is the organizational culture with the underlying factors of decision-making and management by fear. And lastly, the organization's business model with the underlying factor of customer orientation. All these factors are overlapping each other, and are essential to focus on in a changing environment in order to manage a digital transformation. The conclusion that was drawn for managers' implications that are Managerial behavior and Managerial communication, and therefore stated that they have an impact. This research recommends steps for a company to leverage the identified factors that affect the ability to adapt to digitalization. These were first to go toward a digital transformation, by revising work methods. Then to construct a global IT strategy in order to strategize the internal strategies. Then in order to align the strategy and bridge the gap between business and IT, it is through a balanced scorecard. Another critical step is to involve middle managers in decision making by implementing a change management plan. Benefit management will help to engage the entire organization towards change. Lastly, all steps need to be supported with digital solutions by taking into consideration the established actions as analysing risks, creating a digital roadmap, identifying a clear process owner, following up on digital interventions, and working with customers and politicians towards an integrated AM solution.