An Assessment of Digital Transformation Strategies in Traditional Businesses: A Case Study of Real Estate Firms in Plateau State
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Background of the Study
Digital transformation involves the integration of digital technologies into traditional business operations to enhance efficiency, improve customer experiences, and drive innovation. In the real estate sector, digital transformation has revolutionized how properties are marketed, managed, and sold. Tools such as virtual tours, property management software, and online listing platforms have reshaped the industry's landscape (Ibrahim & Musa, 2023).
In Plateau State, real estate firms are gradually adopting digital tools to remain competitive and cater to evolving consumer preferences. However, the pace of adoption varies due to challenges such as high costs, inadequate infrastructure, and limited digital literacy. Research by Adeyemi and Hassan (2024) highlights that digital transformation is essential for businesses aiming to thrive in a competitive environment. This study examines how real estate firms in Plateau State are implementing digital transformation strategies and their impact on business operations.
Statement of the Problem
While digital transformation presents numerous opportunities, many traditional real estate firms in Plateau State face obstacles in its effective implementation. Issues such as resistance to change, lack of technical expertise, and high implementation costs hinder the full potential of digital tools. As a result, these firms risk losing market share to more digitally agile competitors.
Despite the recognized importance of digital transformation, limited research exists on its application within the real estate sector in Plateau State. This study seeks to address this gap by assessing the effectiveness of digital transformation strategies in enhancing operational efficiency and customer satisfaction among real estate firms in the region.
Objectives of the Study
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To evaluate the extent of digital transformation adoption in real estate firms in Plateau State.
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To identify challenges faced by real estate firms in implementing digital transformation strategies.
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To recommend effective strategies for successful digital transformation in the real estate sector.
Research Questions
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What is the extent of digital transformation adoption in real estate firms in Plateau State?
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What challenges do real estate firms face in implementing digital transformation strategies?
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What strategies can enhance digital transformation in the real estate sector?
Research Hypotheses
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Digital transformation significantly enhances operational efficiency in real estate firms.
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Lack of digital literacy negatively impacts the implementation of digital transformation strategies.
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Effective digital transformation strategies improve customer satisfaction and business performance.
Scope and Limitations of the Study
This study focuses on real estate firms in Plateau State, assessing their digital transformation strategies and the associated outcomes. It excludes firms outside the real estate sector or other states. Limitations include variations in digital readiness and the availability of resources among firms.
Definitions of Terms
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Digital Transformation: The integration of digital technologies into business operations to enhance performance.
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Traditional Businesses: Established firms operating in conventional industries such as real estate.
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Real Estate Firms: Businesses involved in property management, sales, and development.
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