THE DEVELOPMENT OF INNOVATIVE DIGITAL ENTERPRISES IN THE ERA OF TRANSFORMATIONAL ECONOMIC CHANGES

##plugins.themes.bootstrap3.article.main##

##plugins.themes.bootstrap3.article.sidebar##

Published: Oct 31, 2024

  Andrii Vakulenko

  Olga Garafonova

Abstract

The objective of this article is to examine the role of digital transformation processes in enhancing competitive advantages and accelerating economic growth. The objective is to demonstrate how the utilisation of digital technologies and the fulfilment of external environment requirements facilitate the innovation of products and services. The methodology entails an examination of the concept of digital transformation within the context of Ukraine's economy. This encompasses an investigation of the integration of production and distribution factors, an evaluation of the potential of digital enterprises, and the formulation of a model for the transformation of enterprises into innovative business entities. The findings indicate that digital transformation is a crucial factor in attaining competitive advantages and stimulating economic growth. The study identifies digital enterprises, equipped with end-to-end digital technologies and services, as a crucial factor in the implementation of effective digital changes. Furthermore, it offers a model for the transformation of traditional businesses into digital enterprises. The practical implications of this study are that businesses must address the barriers to digital change in order to achieve qualitative transformations. The findings indicate that the systematic overcoming of these barriers can facilitate successful digital transformations, which can enhance business performance and innovation. The article's value lies in its contribution to the understanding of how digital transformation can be integrated into business operations in a systematic manner, with a view to fostering innovation and growth. The study's originality lies in its proposal of a model for enterprise transformation and its identification of key barriers and strategies for effective digital change, tailored specifically to the Ukrainian economic context.

How to Cite

Vakulenko, A., & Garafonova, O. (2024). THE DEVELOPMENT OF INNOVATIVE DIGITAL ENTERPRISES IN THE ERA OF TRANSFORMATIONAL ECONOMIC CHANGES. Economics & Education, 9(3), 43-51. https://doi.org/10.30525/2500-946X/2024-3-6
Article views: 49 | PDF Downloads: 23

##plugins.themes.bootstrap3.article.details##

Keywords

digital transformation, competitive advantage, economic growth, innovation, digital enterprises, integration of production and distribution, barriers to digital change

References

Bodnar, D., & Semeniuk, S. (2022) Competitiveness of enterprises in the context of the digital economy. In Digital economy as a factor of innovation and sustainable development of society: Proceedings of the III International Scientific and Practical Conference of Scientists and Students (pp. 5–7). Ternopil.

Zrybnieva, I. P. (2020) Decision-making on the formation of competitive potential of innovation entrepreneurship entities. Intellect XXI, 5, 150–156. E-source: http://www.intellect21.nuft.org.ua/journal/2020/2020_5/31.pdf

Kovalenko, N., & Gambarov, Z. (2022) Implementation of ARM as a management element of the airport complex. In Management and administration in the context of countering hybrid threats to national security: Proceedings of the International Scientific and Practical Conference (pp. 207–209). Kyiv, Ukraine.

Komandrovska, V. Y. (2020) The use of innovative blockchain technologies in the commercial activities of airlines. Economic Space, 162, 79–83. DOI: https://doi.org/10.32782/2224-6282/162-14

Lazebnyk, L. L., & Voitenko, V. O. (2020) Information infrastructure in digitalization of business processes in enterprises. Scientific Bulletin of the International Humanitarian University, 42, 18–22. DOI: https://doi.org/10.32841/2413-2675/2020-42-3

Obikhod, S. V. (2021) Implementation of information and communication technologies in the business process management system of domestic enterprises in the context of digital economy development. Economics, Management and Administration, 4(98), 10–17. DOI: https://doi.org/10.26642/jen-2021-4(98)-10-17

Rudenko, M. V. (2018) Problems and prospects of digitalization of agricultural enterprises. In Strategy for the development of the agro-industrial complex in the context of integration processes: Proceedings of the Conference (pp. 197–200). Kyiv: NNC "IAE".

Tokmakova, I. V., Cherednychenko, O. Y., Voitov, I. M., & Palamarchuk, Y. S. (2019) Digital transformation of railway transport as a factor of its innovative development. Bulletin of Transport Economics and Industry, 68, 125–134. DOI: https://doi.org/10.18664/338.47:338.45.v0i68.189068

Charkina, T. Y., & Orlovska, O. V. (2022) Digitalization of transport processes as a priority direction for the development of railway transport. In Science, Innovations and Education: Problems and Prospects: Proceedings of the 10th International Scientific and Practical Conference (pp. 555–559). Tokyo, Japan: CPN Publishing Group.

Shakhayev, S. V., & Suntsova, O. O. (2020) Management and analysis of competitiveness of agricultural enterprises in the context of the digital economy formation. Scientific Works of Students of UDFSU, 2(1). E-source: https://www.researchgate.net/profile/Olesia-Suntsova-3/publication/366958466_Upravlinna_ta_analiz_konkurentospromoznosti_silskogospodarskogo_pidpriemstva_v_umovah_formuvanna_cifrovoi_ekonomiki

Shevchenko, O. L., & Strylets, A. Y. (2022) Digitalization of business processes during wartime. In Business, Innovations, Management: Problems and Prospects: Collection of Abstracts and Reports of the III International Scientific and Practical Conference (pp. 246–247). Kyiv, Ukraine.

Shklyar, V., & Petyukhov, A. (2022) The role of digital technologies in managing foreign economic activities of enterprises. In Management and Administration in the Context of Countering Hybrid Threats to National Security: Proceedings of the International Scientific and Practical Conference (pp. 232–235). Kyiv, Ukraine.

International Air Transport Association. (n.d.). Future of airline industry 2035. E-source: https://www.iata.org/contentassets/086e8361b2f4423e88166845afdd2f03/iatafuture-airline-industry.pdf

Yankovoi, R., Stadniichuk, R., Zhosan, H., Garafonova, O., Biriukov, I. (2024) Innovative transformation of a financial institution in the context of digitalisation and its impact on social conflict management. Financial and Credit Activity: Problems of Theory and Practice, 2(55), 75–88. DOI: https://doi.org/10.55643/fcaptp.2.55.2024.4386