Unveiling Critical Drivers for Effective Digital Transformation Leadership and its Influence on Corporate Economic Performance: A Conceptual Model and Empirical Analysis in the Landscape of Emerging Economies

This paper aims to conceptualize the success factors of a digital transformation (DT) strategy and analyze its impact on a company's economic performance. We explore the concepts that affect the field of DT definition and the key drivers that lead to successful DT. Through these key drivers considered as success factors, we propose a research framework linking these drivers to the DT strategy and then corporate economic performance in emerging markets. To test the research model empirically and provide a contextualized interpretation of the results, we adopted a sequential explanatory design. Initially, we performed a quantitative study through a survey among companies listed on the Casablanca Stock Exchange in Morocco. We then analyzed the collected data using the structural equation method. Next, to explain the results, we conducted a qualitative analysis through interviews with semi-structured questions. The findings show that in an emerging economy context such as Morocco, placing the customer at the core of the DT strategy, aligning the organization with the DT strategy, adopting a value system imbued with DT values, and establishing an operational roadmap to drive the change can enhance the company’s digital transformation. These drivers contribute to 59.5% of the implementation of the DT strategy. Driving a DT strategy has a significant impact on companies' economic performance, contributing to 21.5% of their commercial and financial outcomes. This study highlights that the maintenance of a "phygital" business model, which mixes digital and physical business models, and the lack of human resources involvement in the DT process are specific to the emerging market context studied.