Digital Transformation Background: The Development and Exploration of Innovative Technology Enterprises -- Take Xiaomi as an Example

Abstract

With the rapid development of information technology, the real economy has entered a new economic form characterized by digitalization. Digital transformation is the only way for enterprises to achieve sustainable development. The digital transformation of enterprises is a high-level transformation based on the digital transformation and digital upgrading of the enterprise, which further touches the company's core business and aims to establish a new business model. Under the background of digital transformation, this paper comprehensively studies the development path of innovative enterprises represented by Xiaomi, including the influence of Xiaomi enterprises on the whole industry and the big environmental economy, and analyzes the evolution of its business model and unique product matrix. Using the SWOT analysis method, this paper summarizes its successful experience, the reasons for its past failures, its development prospects and the current threats. This paper aims to provide other innovative technology companies with reference ideas to achieve profitability and sustainable development.