A Critical Review of the Adaptability of Strategic Management Theory in the Digital Economy Era

Abstract

Digital transformation is reshaping the competitive landscape for businesses, challenging traditional strategic management theories. This study conducts a critical review of the adaptability of strategic management theories in the digital economy era. The research employs a historical analysis approach, tracing the evolution from industrial organization theory to dynamic capabilities theory. Through comparative analysis, the study highlights the limitations of traditional theories in explaining new phenomena such as digital business models, platform competition, and ecosystem strategies. Simultaneously, the research acknowledges the continued relevance of certain core concepts from traditional theories, such as the fundamental logic of value creation and competitive advantage. Based on these analyses, the study proposes a framework for integrating traditional theories with emerging digital strategic thinking, emphasizing the importance of interdisciplinary research. Finally, the study outlines potential future directions for strategic management theory, including innovative areas such as AI-assisted strategic decision-making. This research provides new insights for the innovative development of strategic management theory in the digital age.