A credible source of information, this article is based on past research on digital transformation in retail, business model innovation, and leadership.To provide leaders with evidence-based advice, it relies on academic literature and practitioner sources.

How do I synthesis the following refrerences for essay below

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• Dutta, S., & Sandhane, R. (2022). Digital transformation in Retail Industry.Cardiometry,(24), 859-866. https://doi.org/10.18137/cardiometry.2022.24.859866
• Henderikx, M., & Stoffers, J. (2022). An Exploratory Literature Study into Digital Transformation and Leadership: Toward Future-Proof Middle Managers.Sustainability,14(2), 687.https://doi.org/10.3390/su14020687
• Ivani, L.,Vuki, V. Bosilj, &Spremi, M.(2019).Mastering the Digital Transformation Process: Business Practices and Lessons Learned.Technology Innovation Management Review, 9(2): 36-50. http://doi.org/10.22215/timreview/1217
• Leclerc, A., Guihur, I., & Marcoux, G. (2020). Co-operative Difference and Organizational Commitment: The Role of High-performance Work Practices.Management Review: An International Journal,15(2), 4-52. http://library.capella.edu/login?qurl=https%3A%2F%2Fwww.proquest.com%2Fscholarly-journals%2Fco-operative-difference-oganizational-commitment%2Fdocview%2F2479482100%2Fse-2%3Faccountid%3D27965
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Leaders' Response to Digital Transformation.

Leaders in the retail industry have had to adapt to the changes to remain competitive due to digital transformation. Several factors have impacted organizations due to digital transformation, such as staff reductions, mobility, incentive pay, and skill development programs. Several for-profit, public, and non-profit organizations have implemented high-performance leadership practices to improve competitiveness, innovation, and flexibility (Leclerc et al., 2020). Several positive aspects of leaders' responses to digital transformation have been identified, including improved efficiency, increased revenue, and enhanced customer experience. Digital transformation of the corporate environment has brought about significant changes in the retail sector. These changes have significantly impacted how retail companies operate, requiring them to focus more on customer needs and expectations. Due to digital transformation, companies now have to have a greater understanding of customer needs and preferences and be nimble enough to adjust their strategies to keep up with the rapidly-changing market (Ivani et al., 2019). This requires them to focus more on customer experience, creating a better customer journey, and developing innovative products and services that meet customer needs. According to a study, brands that excel in customer experience generate 5.7 times more revenue than those that lag in customer experience. 73% of consumers say a good experience is vital in influencing brand loyalty (Morgan, 2022). By embracing digital transformation and investing in new technology and data analytics, leaders have streamlined operations, reduced costs, and made data-driven decisions. Leaders have taken advantage of new opportunities to increase their competitive edge in the retail industry. Leaders in the industry have had to deal with both the good and bad aspects of these developments.

Pros and Cons

The following beneficial characteristics of digital transformation for leaders have been established due to their application. Digital technology is being used to develop individualized experiences for consumers, which, in turn, leads to a higher level of customer engagement and loyalty due to the enhanced customer experience (Jenneboer et al., 2022). As a result of the proliferation of digital technology, retail operations are becoming more efficient due to increased operational efficiency.This technology can achieve a more efficient supply chain and cost savings (Gurbaxani & Dunkle, 2019; Ivani et al., 2019). Retailers can avoid costly delays by reducing the time it takes to identify and respond to supply chain disruptions through artificial intelligence (AI) and machine learning (ML). Data analytics capabilities have been expanded to meet the business's needs. With the help of data analytics, leaders can gain insight into customers' behavior and preferences, allowing them to make better decisions based on this information (Leclerc et al., 2020). Data analytics can, for example, identify which segments of customers are more likely to purchase a particular product or service, allowing companies to tailor their marketing efforts accordingly.

On the other hand, there are negative aspects of digital transformation. Digital technology has resulted in the entry of new firms into the market, which has increased competition, making it more difficult for market leaders to maintain their dominant position in the market. For example, technology companies such as Apple and Amazon have forced traditional retailers to innovate and adapt to survive. Since retail businesses rely heavily on digital technology to operate, they are susceptible to cybersecurity threats that may damage their reputations and cause financial losses. To protect their businesses, retailers must invest in security tools, protocols, and best practices to mitigate these risks. They should also regularly train their employees to recognize threats and take precautions.

Additionally, retailers should plan to address any security breaches promptly (Perwej et al., 2021). Changes brought about by digital technology require leaders to acquire new skills and competencies, which may be a challenge for some. To effectively manage these changes and potential risks, leaders must be willing to learn and adapt and implement the necessary protocols and procedures (Perwej et al., 2021). digital transformation can lead to job loss and displacement of employees as roles are automated and processes are streamlined. Digital transformation also requires organizations to be flexible and nimble to keep up with the rapid pace of technological change.

Leader's Adaptability and Strategies with Business Model Innovation

Leaders adapt to business problems with business model innovation in the digital age by integrating research and business information, reports, and company examples. They solve business problems by building solutions based on scientific and business information. Industry leaders are turning to new approaches to develop business models in the modern era to solve these issues. This entails incorporating scientific knowledge, business data, and firm examples into developing new business models that harness digital technology to achieve a competitive advantage. Industry leaders are implementing omnichannel retail strategies. These strategies combine traditional retail operations with e-commerce units to meet customers' demands to purchase products from any retailer they choose. Digital transformation requires retailers to reevaluate their strategies, incorporate creative capabilities, and plan for evolving objectives. AI has impacted the retail industry significantly, as customers seek time capacity, comfort, and adaptability. Retailers must meet shifting customer needs in stores and online to increase share gain, maintain client satisfaction, and boost share gain (Dutta & Sandhane, 2022).

Companies experiment with different business models, such as subscription-based services, to increase recurring revenue streams by incorporating more innovative business models. Besides engaging with customers via social media platforms, some companies use them to build brand loyalty and engage with them. Others, however, are working with technology companies to integrate cutting-edge technology and data analytics into their operations by partnering with those companies. Over the past few years, leaders have used these strategies to solve business problems and adapt to the digital age.

When used in a digital environment, it is possible to evaluate the success of leadership strategies used to generate a competitive advantage based on models, theories, and practices that exist within the field. For instance, a leader may use the resource-based view to identify and capitalize on a firm's strengths and weaknesses within the competitive landscape to create a competitive advantage.As a result, it is possible to create an accurate picture of how effective these strategies are at achieving their goals. A practical method for promoting digital transformation in retail companies is to adopt a transformational leadership model that emphasizes the importance of motivating and energizing employees to achieve their goals, which can inspire and energize them to accomplish the company's objectives. Four distinct behaviors are characteristic of transformational leadership in terms of its style of vision-based leadership: inspirational motivation, intellectual stimulation, idealized influence, and individualized consideration (Matsunaga, 2021). Transformational leadership is essential for digital transformation, as it helps to create a shared vision for the organization, inspire innovation, motivate employees, and encourage collaboration. Transformational leadership enhances organizational agility, learning orientations, and service recovery performance through e-business adoption. Organizational agility and digital transformation are positively influenced by digital transformational leadership (AlNuaimi et al., 2022). This leadership model encourages employees to take ownership of their tasks and objectives. It communicates a clear vision that unifies the team and helps make digital transformation goals tangible. It also creates a culture of trust and collaboration, where everyone is empowered to speak up and contribute to the team's success. This model encourages innovation and employees to take risks and push boundaries to reach team goals.

Harvard Business Review Article Proposal

This article will discuss how retail executives can navigate the complicated digital ecosystem successfully and highlight the opportunities and challenges of digital transformation. To be successful in digital transformation in the retail business, leaders must embrace a customer-centric approach to innovation. The primary takeaway from this piece is the argument that for retail leaders to implement a digital transformation successfully, they must first innovate their business models, integrate scientific data, company case studies, and business reports; and finally, they must employ effective leadership strategies.

`For retailers to remain competitive in today's marketplace, managers need to understand the importance of effective leadership in driving digital transformation initiatives. Managers who fail to adapt to the changing business environment risk being left behind. This article provides managers with practical advice on how to successfully navigate digital transformation initiatives in their organizations. It emphasizes the importance of effective leadership. Retail leaders should first develop creative business models that use digital technologies to gain a competitive advantage before implementing digital transformation, according to the article. The idea is important, valuable, unique, or counterintuitive. In light of the fact that many executives may believe that embracing digital technology is necessary to achieve digital transformation, this is a paradoxical proposition. For retail executives looking to develop a competitive edge in a digital environment, this article will provide practical insights on best practices in digital transformation. This article provides examples of best practices for digital transformation.

Retail managers who want to successfully steer their organizations through digital transformation should read this article since it explains how and why they should apply what they learn. To achieve digital transformation, this article provides actionable guidance on implementing business model innovation, incorporating scientific information, business reports, and company examples, and using effective leadership strategies.

A credible source of information, this article is based on past research on digital transformation in retail, business model innovation, and leadership.To provide leaders with evidence-based advice, it relies on academic literature and practitioner sources.

As well as their professional experience working with retail organizations, the author draws on his academic expertise in digital transformation, business model innovation, and leadership. Additionally, the author draws on their own retail experience.