Digitalization and competitive advantage: Insights from manufacturing sector

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Abstract

The study explores the critical role of digitalization in enhancing the competitive advantage of Albanian manufacturing firms amidst a rapidly changing business environment (Guo et al., 2023). It examines various data sources to understand how digital transformation influences firm performance and strategies in Albania. The findings reveal that digitalization significantly boosts profitability, market share, and innovation in these firms, enabling a faster response to market shifts and customer needs. Key drivers for digital adoption in the Albanian manufacturing sector include market trends, competitive pressures, and technological advancements. However, challenges such as financial constraints, skill gaps in the workforce, and data security issues are also prevalent (Kalaj et al., 2022). The research concludes that digitalization is a strategic necessity for Albanian manufacturing firms aiming to establish themselves as industry leaders. By effectively leveraging digital technologies and overcoming related hurdles, these firms can excel in the global market. This condensed summary presents the essence of the original text, focusing on the main findings and conclusions of the research on digitalization in the Albanian manufacturing industry.

Keywords: Digitalization, Competitive Advantage, Manufacturing, Albanian Firms, Innovation, Workforce Development

Authors’ individual contribution: Conceptualization — S.G. and B.T.; Methodology — S.G. and D.L.; Validation — S.G.; Formal Analysis — S.G., D.L., and B.T.; Investigation — D.L.; Resources — S.G. and D.L.; Writing — Original Draft — S.G. and D.L.; Writing — Review & Editing — S.G. and B.T.; Visualization — D.L.; Supervision — S.G., D.L., and B.T.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: L25, O14, O33

Received: 30.11.2023
Accepted: 27.06.2024
Published online: 01.07.2024

How to cite this paper: Gashi, S., Liça, D., & Trebicka, B. (2024). Digitalization and competitive advantage: Insights from manufacturing sector. Corporate & Business Strategy Review, 5(3), 94–105. https://doi.org/10.22495/cbsrv5i3art9