scholarly journals Recursive and Convergence Methodology of the Investment Management of the Enterprise Digitalization Processes

2021 ◽  
Vol 29 (1) ◽  
pp. 14-19
Author(s):  
Volodymyr Tkachenko ◽  
Maryna Klymchuk ◽  
Iryna Tkachenko
Keyword(s):  
Digital Technologies ◽  
Component Model ◽  
Management Theory ◽  
Information Support ◽  
Investment Management ◽  
It Risk Management ◽  
Coherent Sequence ◽  
Constituent Elements ◽  
External Connections ◽  
It Risk

AbstractThe article investigates the problems of the investment management digital transformations at the enterprise, where the instrumental basis based on the system economic theory and integrated IT risk management theory are allocated. The purpose of the study is to develop a recursive and convergence methodology of the investment management of the enterprise digitalization processes. The components of the process of investment digitalization of enterprises are structurally reflected and a deterministic 5-component model of developing a recursive and convergence management methodology based on the digital economy is formed. It is determined that the recursive and conversion methodology is based on the understanding of investment management digital transformations at an enterprise as a complex system, characterized primarily by the diversity and heterogeneity of the constituent elements, numerous internal and external connections, which causes a variety of their interaction, changes in the composition and state of the system. The recursive model provides management of the investment of digitalization in the enterprise as a sequential transition between processes of one level only after all the cycles provided for the current process are implemented. However, such a coherent sequence is possible at the expense of effective information support of each process, which should be implemented on a convergence basis. The precondition for its implementation in the field of digital technologies is civilizational development, consequences of globalization and digitalization.

scholarly journals Influence of Risk Management on the Formation of the Enterprise’s Business Process Management Strategy in the Digital Economy: The International Experience

2021 ◽  
Vol 1 (516) ◽  
pp. 272-278
Author(s):  
M. M. Klymchuk ◽  
◽  
I. A. Achkasov ◽  
S. A. Klymchuk ◽  
O. P. Poliak ◽  
...  
Keyword(s):  
Economic Theory ◽  
Risk Management ◽  
Digital Technologies ◽  
Digital Economy ◽  
Digital Transformation ◽  
Management Theory ◽  
Economic Systems ◽  
It Risk Management ◽  
Production Economic ◽  
It Risk

The publication is aimed at examining the influence of risk management on the formation of a strategy for the development of enterprise in the digital economy. At this, the instrumental part of the research is based on the integrated theory of IT risk management and the global risk management practice both at the national and international levels. Intensification of the pace of digital transformation at all levels of the economic system, increased competition in the domestic and foreign markets, limited traditional growth resources determine relevance of the problem of ensuring the sustainable development of the production-economic systems. Determining the factors of advancing development, scientists are unanimous in the opinion that the key to economic growth of enterprise is the introduction of digital technologies. That is why the key condition for the development of the production-economic systems is the management of investment in the digitalization. The systematization and generalization of scientific developments of leading domestic and foreign scholars made it possible to distinguish the directions of digital technologies development, the advantages of their incorporation into the production-commercial activities of enterprise, and present the theoretical-instrumental basis for the research on the problems of investing in the digitalization process. The theoretical basis for managing the investment of digital transformations at the enterprise in the context of an integrated approach were the systemic economic theory and the integrated IT risk management theory. The problematics of digital transformation investment management at the enterprise is studied, whereby the instrumental basis is distinguished, which on his part is based on the systemic economic theory and the integrated IT risk management theory, as well as on the complex-system and the spatial-vector approaches. The model of development of recursive-convergence methodology of formation of the strategy of enterprise development on the basis of digital economy is presented. The model of formation of the development strategy of enterprises taking into account the digital economy is proposed, where the concepts of digitalization management and options for financing digital transformations are systematized within the terms of the implementation of four strategies: innovative, investment, market and functional.

The innovative space as the most important element of theregional socio-economic space

2019 ◽  
pp. 60-70
Author(s):  
Larysa Gromozdova ◽  
Inna Stenicheva
Keyword(s):  
Basic Element ◽  
Information Support ◽  
Space Region ◽  
Regional Innovation ◽  
Economic Space ◽  
Mechanisms Of Formation ◽  
Innovation Space ◽  
Space Mechanisms ◽  
Constituent Elements

Purpose of the article: to determine the essence of different elements ofsocio-economic space of the region. Construction of the structure and isolationof individual elements of socio-economic space as a multi-vector formation.This article highlights the essence and different approaches to defining theconcepts, structure and mechanisms of formation of economic and social spacesof the region, innovation space as a basic element of socio-economic space.Research Methods: The methodological basis of the research is the fundamentalprinciples of economic theory, regional economy, scientific views and approachesof foreign and domestic scientists. To achieve the purpose of the study, themethods used at the empirical and theoretical levels were used: axiomatic,abstract, system-structural analysis, analogies and comparisons, graphoanalytic,by which the characterization of the nature of the concepts of space, socioeconomic space, as well as innovation space region. Their general properties,structure and functions are described.The criteria of optimality and balancesof interests in the formation of different types of space in the region areconsidered. The classification of the regional space is proposed, and the networkconnections of the innovation space according to components and elements arerevealed, which allows to study deeply the social, economic and other problemsof development of the region.Scientific novelty: the classification of regionalspace by separate constituent elements is proposed. The concept of “innovationspace” was introduced into scientific circulation, the scheme of networkconnections of the innovation space with other elements of the regional socioeconomic space was developed. Conclusions and Prospects for Further Research:In today’s context, it is possible to significantly improve the economic stateof development of Ukrainian regions by using a scientifically sound andcomprehensive approach to defining and studying the concepts of socioeconomic and innovative space.In the further study it is necessary to considerin detail the mechanism of organizational activity of innovation space in theregion. It is very important to pay attention to information support for theformation of the innovation space, the creation of a regional legal field ofinnovation space, mechanisms for coordinating regional innovation activitieswithin the innovation space, as well as the influence of internal and externalfactors on the formation and development of the innovation space.

scholarly journals Design an IT Policy Implementation Plan

2021 ◽  
Author(s):  
Saman Sarraf ◽  
Milton Kabia
Keyword(s):  
Machine Learning ◽  
Policy Implementation ◽  
Data Driven ◽  
Collaborative Effort ◽  
Leadership Roles ◽  
Implementation Plan ◽  
Communication Plan ◽  
It Risk Management ◽  
Control Framework ◽  
It Risk

Information technology (IT) companies implement multi-dimensional policy plans that include procedures, sub-plans, and instructions to outline their business scopes, targets, and communications. This work outlined the IT policy implementation plan designed by an imaginary company with a random name called Northcentral Cloud Consulting Firm (NCCF), containing proposed IT policies, milestones and roadmaps, control framework, stakeholder responsibilities, knowledge transfer plan, and leadership roles. As NCCF’s major customers seek data-driven solutions in cloud computing, the NCCF IT policy plan provides various data policies, including security and proper usage of machine learning services. The plan offers a detailed roadmap of its financial, geographical, and reputational expansion within three years. The IT policy plan also compromises an IT risk management, contingency, and emergency communication plan, mainly for protecting data and business continuity. Stakeholder responsibilities are incorporated into the IT policy plan, as NCCF considers any engagement with its customers as a collaborative effort in which both parties have and share several responsibilities.

Board and Management-Level Factors Affecting the Maturity of IT Risk Management Practices

2018 ◽  
Vol 33 (3) ◽  
pp. 117-135
Author(s):  
Nishani Edirisinghe Vincent ◽  
Julia L. Higgs ◽  
Robert E. Pinsker
Keyword(s):  
Risk Management ◽  
Internal Control ◽  
Management Practices ◽  
Factors Affecting ◽  
Management Level ◽  
It Risk Management ◽  
Top Managers ◽  
Risk Oversight ◽  
The Impact ◽  
It Risk

ABSTRACT The Securities and Exchange Commission's 2009 enhanced proxy disclosure requirements and the updated Committee of Sponsoring Organizations' (COSO) Internal Control Framework have caused organizations to increase their focus on risk management and consider the impact of information technology (IT) in enterprise risk management. Our study examines whether board involvement, board expertise, and top management's risk culture affect the maturity of IT risk management practices (maturity) in firms. We find that board involvement positively influences maturity while top managers' risk-taking behavior is associated with lower maturity. Even though board expertise influences maturity, board involvement is more important in explaining maturity. Maturity is higher in firms where risk oversight lies with a board-level, rather than a management, committee. However, the maturity of ITRM practices does not differ among firms whether risk oversight lies with the overall board, or any other board committee. The findings contribute to an under-researched area in IT governance.

A Step-by-Step Procedural Methodology for Improving an Organization's IT Risk Management System

2018 ◽  
pp. 236-257
Author(s):  
Shanmugapriya Loganathan
Keyword(s):  
Risk Management ◽  
Data Security ◽  
Vital Role ◽  
Transfer System ◽  
Business Systems ◽  
It Risk Management ◽  
It Organization ◽  
Security Network ◽  
Business Cost ◽  
It Risk

Risks in IT are described as a form of threat in context with data security, network transfer, system scheduled processes, critical applications, and business procedures. IT risk management is broadly defined as the process of managing IT risks, and must be executed on a regular basis. It is neither a product nor a purchase, but a policy of an organization implements to protect its business systems. Managing IT risk plays a vital role in administering any business in today's world. Irrespective of the business, deep knowledge of IT risk leads to increased data security, reduced business cost, and greater compliance. This chapter deals with methodologies to improve risk management in an IT organization, their impact, and some examples.

Global IT Risk Management Strategies

2008 ◽  
pp. 285-298 ◽  
Author(s):  
Chrisan Herrod
Keyword(s):  
Risk Management ◽  
Financial Risk ◽  
Best Practice ◽  
New Technologies ◽  
Management Strategies ◽  
Regulatory Compliance ◽  
It Risk Management ◽  
Reputational Risk ◽  
Risk Management Strategies ◽  
It Risk

This chapter describes why it is important for organizations to develop and implement an IT risk management function and use best practice risk assessment methodologies that provide a standard to measure and assess risk within organizations. Information technology risk management is a significant new function that can help companies achieve world class IT service. IT risk management includes regulatory compliance, information security, disaster recovery, and project risks. IT risk management should be part of a company’s risk management strategy on an equal footing with financial risk management and reputational risk management. As the complexity of IT infrastructures increases and as businesses continue to rely upon the Internet as the communication backbone for e-business, the associated risks increase. For these reasons, deciding upon and implementing a risk management process and a standard methodology will greatly reduce the risks associated with the introduction of new technologies that support the mission of the business.

Risk of adopting mission-critical OSS applications: an interpretive case study

2014 ◽  
Vol 34 (4) ◽  
pp. 477-512 ◽  
Author(s):  
Placide Poba-Nzaou ◽  
Louis Raymond ◽  
Bruno Fabi
Keyword(s):  
Risk Management ◽  
Open Source ◽  
Resource Planning ◽  
Adoption Process ◽  
Content Type ◽  
It Risk Management ◽  
Interpretive Case Study ◽  
Mission Critical ◽  
It Risk

Purpose – This study aims to explore the process of open source software (OSS) adoption in small- and medium-sized enterprises (SMEs), and more specifically open source enterprise resource planning (ERP) as a “mission critical” OSS application in manufacturing. It also addresses the fundamental issue of ERP risk management that shapes this process. Design/methodology/approach – The approach is done through an interpretive case study of a small Canadian manufacturer that has adopted an open source ERP system. Findings – Interpreted in the light of the IT risk management, OSS and packaged application adoption literatures, results indicate that the small manufacturer successfully managed the adoption process in a rather intuitive manner, based on one guiding principle and nine practices. In analyzing the data, diffusion of innovation theory appeared to fit rather well with the situation observed and to offer rich insights to explain the mission-critical OSS adoption process. Research limitations/implications – A single case study of successful IT adoption should be eventually counterbalanced by future cases considered to be partial or total failures, using a wider multiple case study approach for comparative purposes. And this should include alternative theoretical interpretations and more detailed empirical work on the extent to which the distinctive features of OSS make its adoption more or less risk-laden. This initial effort should also be followed by further research on mission-critical OSS adoption in contexts other than SMEs (e.g. healthcare organizations) and other than ERP (e.g. customer-relationship management). Practical implications – This research confirms that open source is a credible alternative for SMEs that decide willingly or under external pressure to adopt a mission-critical system such as ERP. Moreover, it suggests that a high level of formalization is not always necessary. Originality/value – The authors argue that rich insights into the dynamics of the mission-critical OSS adoption process can be obtained by framing this process within an IT risk management context.

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