TRANSFORMING FAMILY-OWNED BUSINESSES WITH DIGITAL TECHNOLOGIES FOR OPTIMAL BUSINESS OUTCOMES

Abstract

With increasing access to customer data, businesses are exploring new ways to manage and leverage this data for better decision-making. However, several challenges remain in effectively collecting, managing, and synthesizing customer data into management decisions. This special issue aims to expand current understanding of data utilization and management for business through a series of articles that highlight promising approaches to data collection, disclosure, and privacy, use, and analysis methods. Additionally, the study examines the application of blockchain technology in managing contextualized and agile risks in China. The findings suggest that blockchain technology can increase risk management by controlling sharp risks through trust-inspiring systems. Moreover, the contributions of emerging economies in Asia, such as India, in shaping their recent policies through technological advancements like digitalization, artificial intelligence, the Internet of Things (IoT), and blockchain are explored. Finally, the document examines how family-owned emerging market multinational enterprises (EMMNEs) working in the digital media industry can improve their business models for optimal business outcomes. By highlighting emerging trends and providing insights into leveraging technology for better business management, this special issue contributes to expanding the knowledge base for businesses and researchers alike