Table 3 Incumbents' challenges Challenge... | Emerald Publishing

Table 3

Incumbents' challenges

Challenge	Type	Count
Current workflows are inefficient	Operational	45
Shortage of manpower	Social	37
Lack of resources and their high cost	Economic	36
New entrants are changing the industry’s mindset	Commercial	35
Very weak digital capabilities	Technological	30
Intuitive and habitual decision-making and workflows	Operational	23
Increasing regulation	Political	22
Customers' expectations are rising	Commercial	21
Profits are diminishing	Economic	20
Lack of interoperability	Technological	18
Need for holistic solutions	Technological	18

Challenge	Type	Count
Current workflows are inefficient	Operational	45
Shortage of manpower	Social	37
Lack of resources and their high cost	Economic	36
New entrants are changing the industry’s mindset	Commercial	35
Very weak digital capabilities	Technological	30
Intuitive and habitual decision-making and workflows	Operational	23
Increasing regulation	Political	22
Customers' expectations are rising	Commercial	21
Profits are diminishing	Economic	20
Lack of interoperability	Technological	18
Need for holistic solutions	Technological	18

Note(s): Since the last two items had the same count, we presented 11 challenges

Source(s): Authors' own work