Discussion

This dissertation thesis addressed the question why firms sometimes struggle on digital transformation through business model innovation and what specific characteristics of German private family and publicly listed non-family firms can influence struggling in firms’ digital transformation. My focus was on the mismatch between traditional paths and the opportunities arising from new, digital technologies (and digitalization), and on corporate governance. The central finding based on my observations is, that firms’ digital transformation and business model innovation are primarily about people. Following my analysis, it appears essential for owners, chief executive officers, top management teams, and boards of directors to support digital transformations completely, and to possess the highest possible digital capabilities to be able asking the right questions about their firm’s digital transformation. Concerning the employees, it seems the owners’, CEOs’, and top executives’ responsibility to create appropriate framework conditions and to support the firms’ digital transformations through ensuring open communication and transparency.